Tronox (NYSE:TROX) Stock Price Up 9.5% - Time to Buy?

Tronox Holdings PLC (NYSE:TROX - Get Free Report) shot up 9.5% during mid-day trading on Tuesday . The company traded as high as $5.66 and last traded at $5.73. 463,866 shares traded hands during trading, a decline of 74% from the average session volume of 1,799,253 shares. The stock had previously closed at $5.23.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TROX. Wall Street Zen downgraded Tronox from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Barclays decreased their target price on Tronox from $13.00 to $8.00 and set an "overweight" rating for the company in a research note on Wednesday, May 28th. Morgan Stanley decreased their target price on Tronox from $12.00 to $8.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. The Goldman Sachs Group reduced their price objective on Tronox from $11.50 to $7.50 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, UBS Group reduced their price objective on Tronox from $10.00 to $8.50 and set a "buy" rating for the company in a research report on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $7.63.

Tronox Stock Performance

The firm has a 50 day moving average of $5.43 and a 200-day moving average of $7.10. The stock has a market capitalization of $903.22 million, a PE ratio of -6.00 and a beta of 1.37. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.61 and a current ratio of 2.28.

Tronox (NYSE:TROX - Get Free Report) last announced 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). The business had revenue of $738.00 million during the quarter, compared to analysts' expectations of $745.96 million. Tronox had a negative return on equity of 1.57% and a negative net margin of 4.94%. The firm's revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. Research analysts forecast that Tronox Holdings PLC will post 0.49 earnings per share for the current year.

Tronox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Monday, May 19th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 8.77%. The ex-dividend date was Monday, May 19th. Tronox's dividend payout ratio is currently -52.63%.

Insider Transactions at Tronox

In other news, SVP Jeffrey N. Neuman purchased 10,266 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was 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 of the company's stock, valued at approximately $50,200.74. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Tronox

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC raised its stake in shares of Tronox by 46.9% during the 1st quarter. Voya Investment Management LLC now owns 466,356 shares of the company's stock worth $3,283,000 after purchasing an additional 148,913 shares in the last quarter. Inspire Investing LLC raised its stake in shares of Tronox by 20.2% during the 1st quarter. Inspire Investing LLC now owns 48,115 shares of the company's stock worth $339,000 after purchasing an additional 8,086 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Tronox by 93.2% during the 1st quarter. Jane Street Group LLC now owns 118,637 shares of the company's stock worth $835,000 after purchasing an additional 57,237 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Tronox by 12.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 366,203 shares of the company's stock worth $2,578,000 after purchasing an additional 41,092 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Tronox by 1.6% during the 1st quarter. Empowered Funds LLC now owns 739,720 shares of the company's stock worth $5,208,000 after purchasing an additional 11,438 shares in the last quarter. 73.36% of the stock is owned by hedge funds and other institutional investors.

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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