Tronox Holdings PLC (NYSE:TROX) Sees Significant Growth in Short Interest

Tronox Holdings PLC (NYSE:TROX - Get Free Report) was the target of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 11,030,000 shares, a growth of 43.6% from the May 15th total of 7,680,000 shares. Approximately 9.6% of the company's shares are sold short. Based on an average daily volume of 3,070,000 shares, the short-interest ratio is currently 3.6 days.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TROX shares. BMO Capital Markets restated a "market perform" rating and issued a $7.00 price objective (down from $13.00) on shares of Tronox in a report on Wednesday, May 7th. Morgan Stanley decreased their price target on Tronox from $12.00 to $8.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. JPMorgan Chase & Co. upgraded Tronox from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $5.00 to $7.00 in a report on Friday, May 30th. The Goldman Sachs Group decreased their price target on Tronox from $11.50 to $7.50 and set a "buy" rating for the company in a report on Tuesday, May 6th. Finally, UBS Group decreased their price target on Tronox from $10.00 to $8.50 and set a "buy" rating for the company in a report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Tronox currently has a consensus rating of "Hold" and a consensus price target of $8.13.

Insider Activity at Tronox

In related news, SVP Jeffrey N. Neuman acquired 10,266 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average cost of $4.89 per share, for a total transaction of $50,200.74. Following the completion of the acquisition, the senior vice president now directly owns 10,266 shares of the company's stock, valued at approximately $50,200.74. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tronox

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp boosted its position in shares of Tronox by 1.9% during the 4th quarter. Stifel Financial Corp now owns 101,264 shares of the company's stock worth $1,020,000 after purchasing an additional 1,891 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Tronox by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,532 shares of the company's stock valued at $680,000 after acquiring an additional 2,201 shares in the last quarter. Investors Research Corp lifted its position in Tronox by 16.4% in the 1st quarter. Investors Research Corp now owns 16,300 shares of the company's stock valued at $115,000 after acquiring an additional 2,300 shares in the last quarter. SG Americas Securities LLC lifted its position 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 acquiring an additional 2,482 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in 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 acquiring an additional 3,397 shares in the last quarter. Institutional investors own 73.36% of the company's stock.

Tronox Stock Up 0.5%

Shares of TROX stock traded up $0.03 on Thursday, reaching $5.52. 2,530,917 shares of the company were exchanged, compared to its average volume of 1,745,203. The company has a market cap of $873.91 million, a price-to-earnings ratio of -5.81 and a beta of 1.42. The company has a 50-day moving average of $5.42 and a 200-day moving average of $7.62. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.28 and a quick ratio of 0.61. Tronox has a one year low of $4.35 and a one year high of $18.84.

Tronox (NYSE:TROX - Get Free Report) last released its quarterly earnings data 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 company had revenue of $738.00 million for the quarter, compared to the consensus estimate of $745.96 million. Tronox had a negative return on equity of 1.57% and a negative net margin of 4.94%. Tronox's revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the company earned ($0.05) EPS. Analysts anticipate that Tronox will post 0.49 earnings per share for the current year.

Tronox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $0.125 per share. The ex-dividend date is Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 9.07%. Tronox's dividend payout ratio (DPR) is presently -52.63%.

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.