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 changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TROX. Mizuho lowered their price target on Tronox from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Wall Street Zen lowered Tronox from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Barclays dropped their price target on shares of Tronox from $13.00 to $8.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 28th. BMO Capital Markets lowered shares of Tronox from a "market perform" rating to an "underperform" rating and reduced their price objective for the company from $7.00 to $3.00 in a research report on Monday. Finally, UBS Group lowered their price objective 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 equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $7.63.

Tronox Stock Performance

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 firm has a market capitalization of $855.68 million, a PE ratio of -5.68 and a beta of 1.37. The firm has a fifty day moving average price of $5.44 and a 200 day moving average price of $7.26.

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

Tronox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Monday, May 19th will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.50 annualized dividend and a dividend yield of 9.26%. Tronox's dividend payout ratio (DPR) is presently -52.63%.

Insider Buying and Selling

In other news, SVP Jeffrey N. Neuman bought 10,266 shares of the business's stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company's stock.

Institutional Trading of Tronox

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC lifted its stake in Tronox by 832.6% in 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 increased its holdings in shares of Tronox by 763.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 9,127 shares of the company's stock valued at $65,000 after purchasing an additional 8,070 shares during the period. Mariner LLC acquired a new position in shares of Tronox in the 4th quarter valued at about $105,000. CWM LLC lifted its position in shares of Tronox by 1,186.7% in the first quarter. CWM LLC now owns 10,731 shares of the company's stock worth $76,000 after purchasing an additional 9,897 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of Tronox in the fourth quarter worth approximately $112,000. Institutional investors and hedge funds own 73.36% of the company's stock.

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.