Tronox (NYSE:TROX) Downgraded by BMO Capital Markets to "Underperform"

BMO Capital Markets downgraded shares of Tronox (NYSE:TROX - Free Report) from a market perform rating to an underperform rating in a research note issued to investors on Monday, Marketbeat Ratings reports. BMO Capital Markets currently has $3.00 price objective on the stock, down from their previous price objective of $7.00.

TROX has been the subject of several other research reports. The Goldman Sachs Group cut their price objective on Tronox from $11.50 to $7.50 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Wall Street Zen downgraded shares of Tronox from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Truist Financial lowered their price objective on shares of Tronox from $14.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Barclays reduced their target price on shares of Tronox from $13.00 to $8.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 28th. Finally, UBS Group decreased their price target on shares of Tronox from $10.00 to $8.50 and set a "buy" rating on the stock in a research note on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $7.63.

Tronox Price Performance

NYSE:TROX traded up $0.05 during trading hours on Monday, reaching $5.58. The company had a trading volume of 1,690,451 shares, compared to its average volume of 1,791,019. The company has a quick ratio of 0.61, a current ratio of 2.28 and a debt-to-equity ratio of 1.61. The stock has a 50-day moving average of $5.44 and a two-hundred day moving average of $7.24. Tronox has a one year low of $4.35 and a one year high of $17.45. The firm has a market capitalization of $884.21 million, a PE ratio of -5.87 and a beta of 1.37.

Tronox (NYSE:TROX - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.17). The firm had revenue of $738.00 million during the quarter, compared to analyst estimates of $745.96 million. Tronox had a negative net margin of 4.94% and a negative return on equity of 1.57%. The firm's revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) EPS. Analysts forecast that Tronox will post 0.49 earnings per share for the current year.

Tronox Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Monday, May 19th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 8.96%. The ex-dividend date of this dividend was Monday, May 19th. Tronox's dividend payout ratio (DPR) is -52.63%.

Insider Transactions at Tronox

In other Tronox news, SVP Jeffrey N. Neuman bought 10,266 shares of the stock in a transaction on Wednesday, May 7th. The stock was purchased at an average price of $4.89 per share, with a total value of $50,200.74. Following the acquisition, the senior vice president owned 10,266 shares of the company's stock, valued at approximately $50,200.74. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Deutsche Bank AG lifted its stake in Tronox by 52.8% in the fourth quarter. Deutsche Bank AG now owns 101,764 shares of the company's stock valued at $1,025,000 after buying an additional 35,146 shares during the period. Sei Investments Co. grew its position in shares of Tronox by 39.9% during the 4th quarter. Sei Investments Co. now owns 284,353 shares of the company's stock worth $2,863,000 after buying an additional 81,078 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Tronox in the 4th quarter valued at about $701,000. Bank of New York Mellon Corp raised its holdings in Tronox by 26.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,630,144 shares of the company's stock worth $26,486,000 after purchasing an additional 551,645 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Tronox during the 4th quarter worth $254,000. Institutional investors and hedge funds 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.