Tronox (NYSE:TROX) Hits New 52-Week Low – What’s Next?

Tronox Holdings plc (NYSE:TROX) reached a new 52-week low during trading on Tuesday . The stock traded as low as $6.59 and last traded at $6.71, with a volume of 248232 shares. The stock had previously closed at $7.04.

Analyst Upgrades and Downgrades

TROX has been the subject of a number of analyst reports. Morgan Stanley dropped their price objective on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Mizuho cut their price target on shares of Tronox from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. The Goldman Sachs Group reduced their price target 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. Truist Financial lowered their price objective on Tronox from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Finally, UBS Group reduced their target price on Tronox from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Tronox has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

Tronox Price Performance

The stock has a 50 day moving average price of $8.24 and a two-hundred day moving average price of $10.59. 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 firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -22.10 and a beta of 1.64.

Tronox (NYSE:TROX) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. As a group, analysts expect that Tronox Holdings plc will post 0.49 EPS for the current year.

Tronox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 3rd will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.50 annualized dividend and a yield of 7.30%. Tronox’s dividend payout ratio is presently -161.29%.

Insider Transactions at Tronox

In related news, Director Stephen J. Jones acquired 30,000 shares of the stock in a transaction dated Tuesday, March 18th. The stock was acquired at an average cost 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 in the company, valued at $215,100. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Tronox

A number of large investors have recently modified their holdings of TROX. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Tronox by 34.6% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company’s stock worth $96,000 after purchasing an additional 1,683 shares in the last quarter. Stifel Financial Corp raised its position in shares of Tronox by 1.9% during the 4th quarter. Stifel Financial Corp now owns 101,264 shares of the company’s stock worth $1,020,000 after acquiring an additional 1,891 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Tronox by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,532 shares of the company’s stock valued at $680,000 after purchasing an additional 2,201 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Tronox by 9.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,548 shares of the company’s stock valued at $399,000 after purchasing an additional 2,488 shares in the last quarter. Finally, KBC Group NV increased its stake in Tronox by 59.4% in the fourth quarter. KBC Group NV now owns 6,949 shares of the company’s stock valued at $70,000 after purchasing an additional 2,590 shares during 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.