Tronox (NYSE:TROX) Trading Down 8.7% – Here’s What Happened

Tronox Holdings PLC (NYSE:TROX) shares were down 8.7% on Friday . The company traded as low as $6.57 and last traded at $6.6450. Approximately 1,116,478 shares changed hands during trading, a decline of 73% from the average daily volume of 4,103,436 shares. The stock had previously closed at $7.28.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Truist Financial upped their target price on Tronox from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Tronox in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $8.00 target price on shares of Tronox in a report on Tuesday, January 27th. UBS Group upped their price target on Tronox from $5.25 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Finally, The Goldman Sachs Group raised their price objective on Tronox from $5.50 to $7.50 and gave the stock a “buy” rating in a report on Thursday, January 29th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.35.

Tronox Trading Down 11.5%

The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -2.16 and a beta of 1.11. The company has a quick ratio of 0.67, a current ratio of 2.46 and a debt-to-equity ratio of 2.16. The business has a 50 day moving average price of $6.37 and a 200-day moving average price of $4.82.

Tronox (NYSE:TROX) last posted its quarterly earnings data on Wednesday, February 18th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.17). The firm had revenue of $730.00 million for the quarter, compared to analysts’ expectations of $730.22 million. Tronox had a negative net margin of 16.22% and a negative return on equity of 14.75%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 EPS. As a group, research analysts expect that Tronox Holdings PLC will post 0.49 EPS for the current fiscal year.

Tronox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, February 23rd will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, February 23rd. This represents a $0.20 annualized dividend and a yield of 3.1%. Tronox’s payout ratio is currently -6.73%.

Institutional Investors Weigh In On Tronox

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. lifted its position in shares of Tronox by 2.5% during the fourth quarter. Osaic Holdings Inc. now owns 60,004 shares of the company’s stock worth $250,000 after purchasing an additional 1,480 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Tronox by 27.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,576 shares of the company’s stock worth $48,000 after buying an additional 2,496 shares during the last quarter. Pilgrim Partners Asia Pte Ltd grew its position in shares of Tronox by 18.1% in the 4th quarter. Pilgrim Partners Asia Pte Ltd now owns 19,600 shares of the company’s stock worth $82,000 after acquiring an additional 3,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Tronox by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,574 shares of the company’s stock valued at $497,000 after acquiring an additional 3,042 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Tronox by 38.3% during the third quarter. Public Employees Retirement System of Ohio now owns 13,619 shares of the company’s stock worth $55,000 after purchasing an additional 3,775 shares during the last quarter. Institutional investors own 73.36% of the company’s stock.

Tronox Company Profile

Tronox Holdings plc is a vertically integrated global producer of titanium dioxide (TiO?) pigment and specialty materials. The company’s operations encompass the full supply chain for TiO?, from mining and processing titanium-bearing ores—such as ilmenite and rutile—to the production of high-purity pigment for use in paints, coatings, plastics, paper and other industrial applications. In addition to TiO?, Tronox’s product portfolio includes zircon, rare earth byproducts and other specialty minerals that serve a range of industrial markets.

Tronox operates a network of mines, processing facilities and pigment plants located across North America, Europe, the Middle East, Australia and South Africa.