Insider Buying: Tronox Holdings PLC (NYSE:TROX) Director Buys 7,000 Shares of Stock

Key Points

• Stephen J. Jones, Director of Tronox Holdings PLC, has acquired an additional 7,000 shares of the company, increasing his total ownership to 43,000 shares, following a transaction on August 6th.
• Tronox reported a quarterly loss of ($0.28) EPS, which missed analysts' expectations, and its revenue fell by 10.9% compared to the same quarter last year.
• The company has announced a dividend of $0.05 per share, to be paid on October 3rd, despite having a negative dividend payout ratio of -12.66%.

Tronox Holdings PLC (NYSE:TROX - Get Free Report) Director Stephen J. Jones purchased 7,000 shares of Tronox stock in a transaction on Wednesday, August 6th. The stock was bought at an average price of $3.20 per share, with a total value of $22,400.00. Following the transaction, the director owned 43,000 shares of the company's stock, valued at approximately $137,600. This represents a 19.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Tronox Price Performance

NYSE TROX traded up $0.02 during trading on Monday, hitting $3.16. 3,083,411 shares of the stock traded hands, compared to its average volume of 5,237,048. The company has a market capitalization of $500.13 million, a P/E ratio of -2.00 and a beta of 1.35. The firm has a 50-day simple moving average of $5.20 and a 200-day simple moving average of $6.22. The company has a quick ratio of 0.52, a current ratio of 2.10 and a debt-to-equity ratio of 1.64. Tronox Holdings PLC has a 12-month low of $2.95 and a 12-month high of $15.07.

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

Tronox Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, October 3rd. Stockholders of record on Tuesday, August 12th will be paid a $0.05 dividend. This represents a dividend yield of 629.0%. The ex-dividend date of this dividend is Monday, August 11th. Tronox's dividend payout ratio (DPR) is presently -31.65%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wall Street Zen cut Tronox from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Barclays reduced their price target on Tronox from $13.00 to $8.00 and set an "overweight" rating for the company in a research report on Wednesday, May 28th. BMO Capital Markets cut Tronox from a "market perform" rating to an "underperform" rating and reduced their price target for the stock from $7.00 to $3.00 in a research report on Monday, June 30th. Truist Financial set a $5.00 price target on Tronox in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. upgraded Tronox from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $5.00 to $7.00 in a research report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $5.01.

Institutional Investors Weigh In On Tronox

Several institutional investors have recently modified their holdings of TROX. Sterling Capital Management LLC lifted its stake in shares of Tronox by 832.6% in the 4th quarter. Sterling Capital Management LLC now owns 3,805 shares of the company's stock valued at $38,000 after purchasing an additional 3,397 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Tronox by 48.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,844 shares of the company's stock valued at $50,000 after purchasing an additional 3,231 shares during the last quarter. Amplius Wealth Advisors LLC bought a new stake in shares of Tronox in the 2nd quarter valued at approximately $64,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Tronox in the 2nd quarter valued at approximately $64,000. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Tronox by 763.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 9,127 shares of the company's stock valued at $65,000 after purchasing an additional 8,070 shares during the last quarter. 73.36% of the stock is owned by 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.