Tronox (NYSE:TROX) Stock Price Down 7.6% – What’s Next?

Tronox Holdings PLC (NYSE:TROX)’s stock price fell 7.6% on Monday. The company traded as low as $3.41 and last traded at $3.3550. Approximately 597,647 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 3,110,396 shares. The stock had previously closed at $3.63.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TROX shares. Mizuho lowered their target price on shares of Tronox from $5.50 to $4.50 and set an “underperform” rating on the stock in a research note on Wednesday, September 30th. UBS Group reduced their price target on shares of Tronox from $7.00 to $4.50 and set a “neutral” rating for the company in a research note on Monday, October 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tronox in a report on Friday, August 7th. JPMorgan Chase & Co. cut shares of Tronox from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $7.00 to $5.00 in a report on Thursday, August 13th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $4.00 price objective on shares of Tronox in a research report on Friday. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $5.83.

Tronox Stock Down 7.3%

The company has a quick ratio of 0.81, a current ratio of 2.55 and a debt-to-equity ratio of 2.62. The company has a market cap of $537.39 million, a P/E ratio of -0.97 and a beta of 0.92. The company has a fifty day moving average of $4.93 and a 200 day moving average of $6.85.

Tronox (NYSE:TROX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.13). Tronox had a negative net margin of 17.96% and a negative return on equity of 24.34%. The firm had revenue of $868.00 million for the quarter, compared to analysts’ expectations of $832.59 million. During the same quarter last year, the company posted ($0.28) EPS. The firm’s revenue was up 18.7% compared to the same quarter last year. On average, research analysts anticipate that Tronox Holdings PLC will post -1.37 earnings per share for the current fiscal year.

Tronox Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Monday, August 10th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.9%. Tronox’s dividend payout ratio (DPR) is presently -5.78%.

Institutional Trading of Tronox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CoreCap Advisors LLC purchased a new stake in Tronox during the third quarter valued at approximately $30,000. Marnell Management LLC purchased a new position in shares of Tronox during the 4th quarter worth $83,000. Alpine Global Management LLC boosted its stake in shares of Tronox by 897.4% during the 4th quarter. Alpine Global Management LLC now owns 21,531 shares of the company’s stock worth $90,000 after acquiring an additional 24,231 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Tronox during the 2nd quarter valued at $114,000. Finally, Abel Hall LLC bought a new stake in shares of Tronox during the 1st quarter valued at $121,000. 73.36% of the stock is owned by hedge funds and other institutional investors.

Tronox Company Profile

Tronox Holdings plc (NYSE:TROX) is a global producer of titanium dioxide pigment, a white pigment used to provide brightness, opacity and durability in products such as paints and coatings, plastics, paper and specialty materials. The company also produces titanium feedstocks, including titanium slag and synthetic rutile, as well as zircon and other mineral-sands products.

Tronox operates an integrated business that spans the mining and processing of mineral sands, the production of titanium feedstocks and the manufacture of titanium dioxide pigment.