Tronox (NYSE:TROX) Shares Down 4.2% Following Analyst Downgrade

Tronox Holdings plc (NYSE:TROX - Get Free Report) traded down 4.2% on Wednesday after Barclays lowered their price target on the stock from $13.00 to $8.00. Barclays currently has an overweight rating on the stock. Tronox traded as low as $4.85 and last traded at $4.90. 298,043 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 1,612,835 shares. The stock had previously closed at $5.12.

Several other equities research analysts have also recently issued reports on TROX. Mizuho cut their price target on Tronox from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Wall Street Zen downgraded Tronox from a "hold" rating to a "sell" rating in a report on Monday, May 5th. BMO Capital Markets restated a "market perform" rating and issued a $7.00 target price (down previously from $13.00) on shares of Tronox in a report on Wednesday, May 7th. UBS Group decreased their price target on Tronox from $11.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, The Goldman Sachs Group dropped their price target on Tronox from $11.50 to $7.50 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $8.31.

Insider Buying and Selling at Tronox

In other news, SVP Jeffrey N. Neuman acquired 10,266 shares of Tronox stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average cost of $4.89 per share, with a total value of $50,200.74. Following the transaction, the senior vice president now directly owns 10,266 shares of the company's stock, valued at $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 this link. Also, Director Stephen J. Jones acquired 30,000 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was purchased at an average cost of $7.17 per share, with a total value of $215,100.00. Following the purchase, the director now owns 30,000 shares of the company's stock, valued at $215,100. The trade was 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stifel Financial Corp lifted its holdings in Tronox by 1.9% during the fourth quarter. Stifel Financial Corp now owns 101,264 shares of the company's stock worth $1,020,000 after buying an additional 1,891 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Tronox by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,532 shares of the company's stock valued at $680,000 after buying an additional 2,201 shares during the last quarter. Investors Research Corp lifted its stake in Tronox by 16.4% in the 1st quarter. Investors Research Corp now owns 16,300 shares of the company's stock worth $115,000 after purchasing an additional 2,300 shares in the last quarter. SG Americas Securities LLC raised its stake in Tronox by 6.2% during the first quarter. SG Americas Securities LLC now owns 42,677 shares of the company's stock worth $300,000 after purchasing an additional 2,482 shares during the period. Finally, KBC Group NV grew its holdings in shares of Tronox by 59.4% during the 4th quarter. KBC Group NV now owns 6,949 shares of the company's stock worth $70,000 after purchasing an additional 2,590 shares during the period. 73.36% of the stock is currently owned by institutional investors.

Tronox Stock Performance

The company has a market capitalization of $903.23 million, a price-to-earnings ratio of -18.39 and a beta of 1.40. The stock's fifty day simple moving average is $5.48 and its 200-day simple moving average is $8.20. 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 released its quarterly earnings results 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 firm had revenue of $738.00 million for the quarter, compared to analysts' expectations 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 quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. Analysts predict that Tronox Holdings plc will post 0.49 EPS for the current year.

Tronox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Monday, May 19th will be paid a $0.125 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.50 annualized dividend and a yield of 8.77%. Tronox's dividend payout ratio is currently -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.