Stephen J. Jones Purchases 6,000 Shares of Tronox Holdings PLC (NYSE:TROX) Stock

Key Points

• Director Stephen J. Jones purchased 6,000 shares of Tronox Holdings PLC stock at an average price of $3.32 per share, increasing his total holdings to 36,000 shares, valued at $119,520.
• Tronox reported a quarterly loss of ($0.28) earnings per share, missing estimates and reflecting a 10.9% year-over-year revenue decline of $731 million.
• Analysts have lowered their price targets for Tronox, with recent estimates ranging between $3.60 and $8.00, reflecting caution about the stock's performance amidst ongoing challenges.

Tronox Holdings PLC (NYSE:TROX - Get Free Report) Director Stephen J. Jones purchased 6,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were acquired at an average cost of $3.32 per share, with a total value of $19,920.00. Following the completion of the acquisition, the director directly owned 36,000 shares in the company, valued at $119,520. The trade was a 20.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Tronox Price Performance

Shares of TROX traded down $0.08 on Friday, reaching $3.15. The stock had a trading volume of 4,457,251 shares, compared to its average volume of 5,100,524. The firm has a market capitalization of $499.15 million, a PE ratio of -1.99 and a beta of 1.35. The company has a quick ratio of 0.52, a current ratio of 2.10 and a debt-to-equity ratio of 1.64. The firm has a 50-day moving average of $5.25 and a 200 day moving average of $6.32. Tronox Holdings PLC has a twelve month low of $2.95 and a twelve month high of $15.07.

Tronox (NYSE:TROX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.24). The company had revenue of $731.00 million for the quarter, compared to analyst estimates of $802.03 million. Tronox had a negative net margin of 8.48% and a negative return on equity of 4.83%. Tronox's quarterly revenue was down 10.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.07 EPS. Sell-side analysts expect that Tronox Holdings PLC will post 0.49 EPS for the current year.

Tronox Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, October 3rd. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.05 per share. This represents a dividend yield of 629.0%. The ex-dividend date of this dividend is Monday, August 11th. Tronox's dividend payout ratio is currently -31.65%.

Wall Street Analyst Weigh In

TROX has been the subject of several research reports. Morgan Stanley reduced their target price on Tronox from $8.00 to $4.00 and set an "equal weight" rating for the company in a report on Wednesday. Barclays reduced their price objective on Tronox from $13.00 to $8.00 and set an "overweight" rating for the company in a research note on Wednesday, May 28th. Truist Financial set a $5.00 target price on Tronox in a research report on Monday. BMO Capital Markets cut Tronox from a "market perform" rating to an "underperform" rating and dropped their target price for the stock from $7.00 to $3.00 in a research report on Monday, June 30th. Finally, The Goldman Sachs Group dropped their target price on Tronox from $7.00 to $4.50 and set a "buy" rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $5.01.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Tronox by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 12,650,443 shares of the company's stock worth $127,390,000 after purchasing an additional 193,895 shares during the period. Capital International Investors raised its position in shares of Tronox by 14.8% in the 4th quarter. Capital International Investors now owns 6,060,943 shares of the company's stock worth $61,034,000 after buying an additional 781,223 shares during the period. Van Lanschot Kempen Investment Management N.V. raised its position in shares of Tronox by 2.5% in the 1st quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,868,837 shares of the company's stock worth $20,197,000 after buying an additional 69,726 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Tronox by 15.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,832,510 shares of the company's stock worth $19,941,000 after buying an additional 375,643 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Tronox by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,826,014 shares of the company's stock worth $14,329,000 after buying an additional 31,538 shares during the period. Hedge funds and other 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.