Tronox (NYSE:TROX) Sets New 52-Week Low – Here’s What Happened

Shares of Tronox Holdings plc (NYSE:TROX) hit a new 52-week low on Monday . The stock traded as low as $9.44 and last traded at $9.45, with a volume of 359089 shares changing hands. The stock had previously closed at $9.49.

Analyst Ratings Changes

TROX has been the topic of a number of recent analyst reports. UBS Group upgraded Tronox from a “neutral” rating to a “buy” rating and increased their price target for the stock from $17.00 to $19.00 in a research report on Thursday, October 10th. The Goldman Sachs Group reduced their price objective on shares of Tronox from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday. BMO Capital Markets dropped their target price on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Finally, Barclays reduced their price target on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.40.

Tronox Trading Down 3.1 %

The company has a current ratio of 2.72, a quick ratio of 0.90 and a debt-to-equity ratio of 1.42. The firm has a market cap of $1.45 billion, a PE ratio of -19.08 and a beta of 1.62. The business has a fifty day moving average price of $11.12 and a 200 day moving average price of $13.17.

Tronox (NYSE:TROX) last released its quarterly earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). The firm had revenue of $804.00 million for the quarter, compared to analysts’ expectations of $790.63 million. Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) EPS. Analysts forecast that Tronox Holdings plc will post -0.04 EPS for the current year.

Tronox Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 11th were paid a $0.125 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.50 annualized dividend and a yield of 5.46%. Tronox’s dividend payout ratio is currently -104.17%.

Institutional Investors Weigh In On Tronox

A number of institutional investors have recently added to or reduced their stakes in TROX. Quantbot Technologies LP grew its position in Tronox by 98.6% during the third quarter. Quantbot Technologies LP now owns 174,922 shares of the company’s stock worth $2,559,000 after buying an additional 86,852 shares during the period. Royce & Associates LP grew its holdings in shares of Tronox by 20.8% in the 3rd quarter. Royce & Associates LP now owns 493,543 shares of the company’s stock worth $7,221,000 after acquiring an additional 84,830 shares during the period. Geode Capital Management LLC increased its stake in Tronox by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,713,606 shares of the company’s stock valued at $39,708,000 after purchasing an additional 22,165 shares in the last quarter. Algert Global LLC raised its holdings in Tronox by 127.2% during the second quarter. Algert Global LLC now owns 309,051 shares of the company’s stock worth $4,849,000 after purchasing an additional 173,054 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Tronox by 54.6% during the third quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock worth $22,497,000 after purchasing an additional 543,091 shares in the last quarter. Hedge funds and other institutional investors own 73.36% of the company’s stock.

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.