Tronox (NYSE:TROX) Trading 12.5% Higher After Insider Buying Activity

Tronox Holdings plc (NYSE:TROX)’s stock price shot up 12.5% during mid-day trading on Monday following insider buying activity. The stock traded as high as $5.92 and last traded at $5.91. 945,059 shares changed hands during trading, a decline of 37% from the average session volume of 1,500,490 shares. The stock had previously closed at $5.25.

Specifically, SVP Jeffrey N. Neuman purchased 10,266 shares of Tronox stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $4.89 per share, with a total value of $50,200.74. Following the completion of the transaction, the senior vice president now directly owns 10,266 shares in the company, valued at $50,200.74. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com downgraded shares of Tronox from a “hold” rating to a “sell” rating in a report on Monday, May 5th. BMO Capital Markets restated a “market perform” rating and set a $7.00 target price (down from $13.00) on shares of Tronox in a report on Wednesday, May 7th. UBS Group lowered their price objective on shares of Tronox from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Morgan Stanley decreased their target price on shares of Tronox from $12.00 to $8.00 and set an “equal weight” rating for the company in a research note on Monday, May 5th. Finally, Mizuho reduced their price objective on shares of Tronox from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.64.

Tronox Stock Performance

The stock’s 50-day moving average price is $6.08 and its 200-day moving average price is $8.87. The company has a market cap of $915.25 million, a P/E ratio of -18.73 and a beta of 1.40. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.47 and a quick ratio of 0.90.

Tronox (NYSE:TROX) last announced its earnings results on Wednesday, April 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The business had revenue of $738.00 million during the quarter, compared to the consensus estimate of $745.96 million. Tronox had a negative net margin of 1.56% and a negative return on equity of 0.63%. The company’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS. Equities analysts anticipate that Tronox Holdings plc will post 0.49 EPS for the current year.

Tronox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, May 19th will be given a $0.125 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 8.63%. Tronox’s payout ratio is presently -52.63%.

Institutional Investors Weigh In On Tronox

Institutional investors have recently modified their holdings of the business. Stifel Financial Corp raised its stake in Tronox by 1.9% in the fourth quarter. Stifel Financial Corp now owns 101,264 shares of the company’s stock valued at $1,020,000 after purchasing an additional 1,891 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Tronox by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,532 shares of the company’s stock valued at $680,000 after purchasing an additional 2,201 shares in the last quarter. Investors Research Corp raised its stake in Tronox by 16.4% in the first quarter. Investors Research Corp now owns 16,300 shares of the company’s stock valued at $115,000 after purchasing an additional 2,300 shares in the last quarter. SG Americas Securities LLC raised its holdings in Tronox by 6.2% in the 1st quarter. SG Americas Securities LLC now owns 42,677 shares of the company’s stock valued at $300,000 after buying an additional 2,482 shares during the last quarter. Finally, KBC Group NV raised its holdings in Tronox by 59.4% in the 4th quarter. KBC Group NV now owns 6,949 shares of the company’s stock valued at $70,000 after buying an additional 2,590 shares during the last quarter. Institutional investors own 73.36% of the company’s stock.

About Tronox

Tronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines; and engages in beneficiation and smelting operations. It offers TiO2 pigment; ultrafine specialty TiO2; zircon; feedstock; pig iron; monazite; titanium tetrachloride; and other products.