Tronox Holdings PLC (NYSE:TROX) Director Acquires $99,991.50 in Stock

Key Points

• Jean Francois Turgeon, a director at Tronox Holdings PLC, purchased 31,150 shares of the company's stock at an average cost of $3.21 per share, increasing his total holdings by 4.20%.
• Tronox reported a loss of ($0.28) earnings per share for the last quarter, missing analysts' expectations and marking a year-over-year revenue decline of 10.9%.
• The company's stock has seen a recent dividend cut, with a declared dividend of $0.05, resulting in a yield of 629.0%, while its current payout ratio stands at -31.65%.

Tronox Holdings PLC (NYSE:TROX - Get Free Report) Director Jean Francois Turgeon acquired 31,150 shares of Tronox stock in a transaction on Thursday, August 7th. The shares were bought at an average price of $3.21 per share, with a total value of $99,991.50. Following the purchase, the director directly owned 772,572 shares in the company, valued at approximately $2,479,956.12. The trade was a 4.20% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Tronox Price Performance

TROX stock traded up $0.28 during trading on Wednesday, hitting $3.72. The stock had a trading volume of 2,101,539 shares, compared to its average volume of 2,915,800. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.10 and a quick ratio of 0.52. Tronox Holdings PLC has a twelve month low of $2.95 and a twelve month high of $15.07. The stock has a market capitalization of $588.90 million, a P/E ratio of -2.34 and a beta of 1.35. The company's 50-day moving average price is $5.16 and its two-hundred day moving average price is $6.20.

Tronox (NYSE:TROX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.24). Tronox had a negative return on equity of 4.83% and a negative net margin of 8.48%. The firm had revenue of $731.00 million during the quarter, compared to analyst estimates of $802.03 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The company's quarterly revenue was down 10.9% on a year-over-year basis. As a group, research analysts predict that Tronox Holdings PLC will post 0.49 EPS for the current fiscal year.

Tronox Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, October 3rd. Stockholders of record on Tuesday, August 12th will be given a $0.05 dividend. The ex-dividend date is Monday, August 11th. This represents a dividend yield of 629.0%. Tronox's dividend payout ratio is -12.66%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TROX. Truist Financial set a $5.00 price objective on Tronox in a research note on Monday, August 4th. BMO Capital Markets lowered Tronox from a "market perform" rating to an "underperform" rating and cut their price target for the company from $7.00 to $3.00 in a research note on Monday, June 30th. Alembic Global Advisors restated an "overweight" rating and issued a $5.00 price target on shares of Tronox in a research note on Monday. UBS Group lowered Tronox from a "buy" rating to a "neutral" rating and cut their price target for the company from $8.00 to $3.60 in a research note on Monday, August 4th. Finally, Wall Street Zen lowered Tronox from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $5.01.

Institutional Investors Weigh In On Tronox

A number of large investors have recently made changes to their positions in the stock. Capital International Investors grew its position in shares of Tronox by 14.8% in the fourth quarter. Capital International Investors now owns 6,060,943 shares of the company's stock valued at $61,034,000 after purchasing an additional 781,223 shares in the last quarter. Primecap Management Co. CA grew its position in shares of Tronox by 192.2% in the second quarter. Primecap Management Co. CA now owns 4,252,502 shares of the company's stock valued at $21,560,000 after purchasing an additional 2,797,002 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. grew its position in shares of Tronox by 2.5% in the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,868,837 shares of the company's stock valued at $20,197,000 after purchasing an additional 69,726 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Tronox by 15.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,832,510 shares of the company's stock valued at $19,941,000 after purchasing an additional 375,643 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Tronox by 1.1% in the second quarter. Geode Capital Management LLC now owns 2,826,014 shares of the company's stock valued at $14,329,000 after purchasing an additional 31,538 shares in the last quarter. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

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.