Tronox (NYSE:TROX) Shares Down 7.5% on Analyst Downgrade

Shares of Tronox Holdings plc (NYSE:TROX - Get Free Report) fell 7.5% during trading on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $11.50 to $7.50. The Goldman Sachs Group currently has a buy rating on the stock. Tronox traded as low as $4.90 and last traded at $4.91. 593,672 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 2,201,118 shares. The stock had previously closed at $5.31.

A number of other equities analysts have also recently issued reports on the stock. StockNews.com cut shares of Tronox from a "hold" rating to a "sell" rating in a research report on Monday. Morgan Stanley lowered their price objective on shares of Tronox from $12.00 to $8.00 and set an "equal weight" rating on the stock in a report on Monday. Truist Financial decreased their target price on shares of Tronox from $14.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, April 14th. UBS Group lowered their price objective on Tronox from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Mizuho dropped their price target on shares of Tronox from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $9.64.

Insider Buying and Selling

In related news, Director Stephen J. Jones purchased 30,000 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was bought at an average price of $7.17 per share, for a total transaction of $215,100.00. Following the purchase, the director now directly owns 30,000 shares in the company, valued at approximately $215,100. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tronox

Several large investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its position in Tronox by 832.6% during the fourth quarter. Sterling Capital Management LLC now owns 3,805 shares of the company's stock worth $38,000 after purchasing an additional 3,397 shares during the period. KBC Group NV boosted its holdings in Tronox by 59.4% in the 4th quarter. KBC Group NV now owns 6,949 shares of the company's stock worth $70,000 after buying an additional 2,590 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Tronox by 763.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 9,127 shares of the company's stock worth $65,000 after buying an additional 8,070 shares during the period. Mariner LLC purchased a new position in Tronox in the 4th quarter valued at approximately $105,000. Finally, CWM LLC raised its holdings in Tronox by 1,186.7% during the 1st quarter. CWM LLC now owns 10,731 shares of the company's stock valued at $76,000 after acquiring an additional 9,897 shares during the period. Hedge funds and other institutional investors own 73.36% of the company's stock.

Tronox Stock Down 7.8 %

The stock has a fifty day moving average price of $6.21 and a 200 day moving average price of $9.07. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.47 and a quick ratio of 0.90. The stock has a market capitalization of $773.11 million, a P/E ratio of -15.82 and a beta of 1.40.

Tronox (NYSE:TROX - Get Free Report) last issued 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). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. The business had revenue of $738.00 million during the quarter, compared to analysts' expectations of $745.96 million. During the same quarter last year, the business posted ($0.05) EPS. The company's quarterly revenue was down 4.7% on a year-over-year basis. On average, research analysts forecast that Tronox Holdings plc will post 0.49 earnings per share for the current year.

Tronox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, May 19th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 10.21%. Tronox's dividend payout ratio (DPR) is -52.63%.

Tronox Company Profile

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.

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