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

Tronox Holdings plc (NYSE:TROX - Get Free Report)'s share price was down 4.2% during mid-day trading 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. Approximately 298,043 shares changed hands during trading, a decline of 82% from the average daily volume of 1,612,835 shares. The stock had previously closed at $5.12.

Several other brokerages have also recently commented on TROX. Wall Street Zen cut shares of Tronox from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Truist Financial reduced their target price on shares of Tronox from $14.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, April 14th. UBS Group decreased their target price on shares of Tronox from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Mizuho decreased their price objective on Tronox from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Finally, The Goldman Sachs Group dropped their target price on Tronox from $11.50 to $7.50 and set a "buy" rating for the company in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Tronox presently has a consensus rating of "Hold" and an average price target of $8.31.

Insider Activity

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

Institutional Trading of Tronox

A number of large investors have recently modified their holdings of TROX. Sterling Capital Management LLC grew its holdings in Tronox by 832.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,805 shares of the company's stock worth $38,000 after acquiring an additional 3,397 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Tronox by 763.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 9,127 shares of the company's stock worth $65,000 after purchasing an additional 8,070 shares during the last quarter. KBC Group NV boosted its position in Tronox by 59.4% during the fourth quarter. KBC Group NV now owns 6,949 shares of the company's stock valued at $70,000 after purchasing an additional 2,590 shares in the last quarter. CWM LLC boosted its holdings in shares of Tronox by 1,186.7% in the 1st quarter. CWM LLC now owns 10,731 shares of the company's stock valued at $76,000 after buying an additional 9,897 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Tronox by 1,070.2% in the first quarter. GAMMA Investing LLC now owns 11,257 shares of the company's stock worth $79,000 after purchasing an additional 10,295 shares during the last quarter. Hedge funds and other institutional investors own 73.36% of the company's stock.

Tronox Trading Up 11.8%

The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 2.47. The stock has a market capitalization of $903.23 million, a PE ratio of -18.39 and a beta of 1.40. The company has a 50 day moving average of $5.48 and a two-hundred day moving average of $8.18.

Tronox (NYSE:TROX - Get Free Report) last posted 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 business 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 business's quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) earnings per share. Sell-side analysts predict that Tronox Holdings plc will post 0.49 EPS for the current year.

Tronox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Monday, May 19th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a yield of 8.77%. Tronox's payout ratio is -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.