Tronox Holdings plc (NYSE:TROX) to Issue $0.13 Quarterly Dividend

Tronox Holdings plc (NYSE:TROX - Get Free Report) declared a quarterly dividend on Wednesday, May 7th, RTT News reports. Investors of record on Monday, May 19th will be paid a dividend of 0.125 per share on Wednesday, July 2nd. This represents a $0.50 dividend on an annualized basis and a yield of 9.52%. The ex-dividend date of this dividend is Monday, May 19th.

Tronox has raised its dividend payment by an average of 11.6% per year over the last three years. Tronox has a payout ratio of 54.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Tronox to earn $0.96 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 52.1%.

Tronox Stock Performance

Shares of TROX traded up $0.13 during midday trading on Friday, reaching $5.25. The stock had a trading volume of 3,196,173 shares, compared to its average volume of 1,498,725. The firm has a market cap of $829.17 million, a PE ratio of -16.93 and a beta of 1.40. The firm has a 50 day simple moving average of $6.08 and a 200-day simple moving average of $8.93. Tronox has a one year low of $4.35 and a one year high of $20.70. The company has a current ratio of 2.47, a quick ratio of 0.90 and a debt-to-equity ratio of 1.54.

Tronox (NYSE:TROX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.17). The business 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 0.63% and a negative net margin of 1.56%. The company's revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) EPS. As a group, sell-side analysts anticipate that Tronox will post 0.49 EPS for the current year.

Insiders Place Their Bets

In other Tronox news, SVP Jeffrey N. Neuman purchased 10,266 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were bought at an average price of $4.89 per share, for a total transaction of $50,200.74. Following the purchase, the senior vice president now owns 10,266 shares in the company, valued at approximately $50,200.74. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen J. Jones acquired 30,000 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were bought at an average price of $7.17 per share, with a total value of $215,100.00. Following the completion of the transaction, the director now owns 30,000 shares in the company, valued at $215,100. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Truist Financial cut their price target on Tronox from $14.00 to $10.00 and set a "buy" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group reduced their target price on shares of Tronox from $11.50 to $7.50 and set a "buy" rating for the company in a report on Tuesday. Mizuho lowered their price target on shares of Tronox from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Morgan Stanley decreased their target price on Tronox from $12.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Monday. Finally, StockNews.com cut Tronox from a "hold" rating to a "sell" rating in a report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tronox currently has an average rating of "Hold" and an average price target of $9.64.

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.