Tronox (NYSE:TROX) Shares Gap Down - Here's Why

Tronox Holdings PLC (NYSE:TROX - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $5.64, but opened at $5.03. Tronox shares last traded at $5.03, with a volume of 744,401 shares.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TROX. Morgan Stanley lowered their price objective on Tronox from $12.00 to $8.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. JPMorgan Chase & Co. upgraded Tronox from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $5.00 to $7.00 in a research note on Friday, May 30th. Barclays cut their price objective on Tronox from $13.00 to $8.00 and set an "overweight" rating for the company in a research report on Wednesday, May 28th. Mizuho reduced their target price on Tronox from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Finally, UBS Group lowered their price target on shares of Tronox from $10.00 to $8.50 and set a "buy" rating on the stock in a research note on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $7.63.

Tronox Trading Up 0.9%

The firm has a market cap of $884.21 million, a PE ratio of -5.87 and a beta of 1.37. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.28 and a quick ratio of 0.61. The business has a 50-day moving average price of $5.44 and a two-hundred day moving average price of $7.21.

Tronox (NYSE:TROX - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.17). Tronox had a negative net margin of 4.94% and a negative return on equity of 1.57%. The business had revenue of $738.00 million for the quarter, compared to analysts' expectations of $745.96 million. During the same quarter last year, the business posted ($0.05) earnings per share. The business's revenue was down 4.7% compared to the same quarter last year. Analysts forecast that Tronox Holdings PLC will post 0.49 EPS for the current year.

Tronox Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Monday, May 19th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 8.96%. The ex-dividend date of this dividend was Monday, May 19th. Tronox's payout ratio is currently -52.63%.

Insider Buying and Selling

In other Tronox news, SVP Jeffrey N. Neuman purchased 10,266 shares of Tronox stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $4.89 per share, with a total value of $50,200.74. Following the purchase, the senior vice president directly owned 10,266 shares in the company, valued at $50,200.74. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Tronox

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Tronox by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 12,650,443 shares of the company's stock worth $127,390,000 after purchasing an additional 193,895 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Tronox by 60.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company's stock worth $69,869,000 after purchasing an additional 2,616,804 shares during the last quarter. Capital International Investors lifted its holdings in Tronox by 14.8% during the 4th quarter. Capital International Investors now owns 6,060,943 shares of the company's stock worth $61,034,000 after buying an additional 781,223 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its stake in Tronox by 2.5% during the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,868,837 shares of the company's stock worth $20,197,000 after purchasing an additional 69,726 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Tronox by 15.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,832,510 shares of the company's stock valued at $19,941,000 after buying an additional 375,643 shares during the last quarter. 73.36% of the stock is currently owned by institutional investors and hedge funds.

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.