Tronox Sees Unusually High Options Volume (NYSE:TROX)

Tronox Holdings plc (NYSE:TROX - Get Free Report) saw unusually large options trading activity on Monday. Stock traders purchased 5,301 call options on the company. This represents an increase of 1,478% compared to the average volume of 336 call options.

Tronox Stock Performance

Shares of Tronox stock traded up $0.26 on Friday, hitting $5.75. The stock had a trading volume of 4,074,137 shares, compared to its average volume of 1,448,775. The stock has a market cap of $908.14 million, a price-to-earnings ratio of -18.55 and a beta of 1.53. The company has a current ratio of 2.47, a quick ratio of 0.90 and a debt-to-equity ratio of 1.54. Tronox has a 52-week low of $4.35 and a 52-week high of $20.70. The company's 50 day moving average price is $6.31 and its 200 day moving average price is $9.20.

Tronox (NYSE:TROX - Get Free Report) last announced its 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). 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 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% on a year-over-year basis. On average, research analysts anticipate that Tronox will post 0.49 EPS for the current year.

Tronox Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 8.70%. The ex-dividend date was Monday, March 3rd. Tronox's dividend payout ratio is presently -161.29%.

Insiders Place Their Bets

In related news, Director Stephen J. Jones acquired 30,000 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were acquired at an average price of $7.17 per share, with a total value of $215,100.00. Following the completion of the transaction, the director now owns 30,000 shares of the company's stock, valued at $215,100. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Kingsview Wealth Management LLC purchased a new position in Tronox in the 1st quarter valued at $331,000. Edgestream Partners L.P. purchased a new stake in shares of Tronox in the first quarter valued at about $3,620,000. CWM LLC increased its stake in shares of Tronox by 1,186.7% during the first quarter. CWM LLC now owns 10,731 shares of the company's stock worth $76,000 after acquiring an additional 9,897 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Tronox by 763.5% during the first quarter. Nisa Investment Advisors LLC now owns 9,127 shares of the company's stock worth $65,000 after acquiring an additional 8,070 shares during the period. Finally, Lightrock Netherlands B.V. raised its holdings in Tronox by 82.7% during the first quarter. Lightrock Netherlands B.V. now owns 1,657,579 shares of the company's stock worth $11,689,000 after purchasing an additional 750,145 shares in the last quarter. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TROX. Mizuho cut their price target on Tronox from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. UBS Group cut their target price on shares of Tronox from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday. Morgan Stanley decreased their price target on shares of Tronox from $16.00 to $12.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group dropped their price objective on shares of Tronox from $13.00 to $11.50 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Finally, Truist Financial decreased their price objective 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. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $12.21.

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.