Tronox (NYSE:TROX) Stock Price Down 4.6% – What’s Next?

Tronox Holdings PLC (NYSE:TROX)’s share price traded down 4.6% during trading on Wednesday. The company traded as low as $3.26 and last traded at $3.2350. Approximately 272,827 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 3,076,645 shares. The stock had previously closed at $3.39.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Truist Financial dropped their price target on Tronox from $7.00 to $4.00 and set a “hold” rating on the stock in a research note on Tuesday. The Goldman Sachs Group reduced their price objective on Tronox from $6.50 to $4.00 and set a “sell” rating for the company in a research note on Friday, October 9th. JPMorgan Chase & Co. cut Tronox from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $7.00 to $5.00 in a research note on Thursday, August 13th. Zacks Research downgraded Tronox from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Finally, Mizuho lowered their target price on Tronox from $5.50 to $4.50 and set an “underperform” rating on the stock in a research report on Wednesday, September 30th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, Tronox currently has a consensus rating of “Reduce” and an average target price of $5.33.

Tronox Stock Performance

The company’s 50 day moving average price is $4.44 and its 200-day moving average price is $6.48. The stock has a market cap of $553.36 million, a P/E ratio of -1.00 and a beta of 0.92. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.81 and a current ratio of 2.55.

Tronox (NYSE:TROX) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.13). Tronox had a negative net margin of 17.96% and a negative return on equity of 24.34%. The firm had revenue of $868.00 million for the quarter, compared to the consensus estimate of $832.59 million. During the same period in the previous year, the business earned ($0.28) earnings per share. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. Equities analysts forecast that Tronox Holdings PLC will post -1.44 EPS for the current fiscal year.

Tronox Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Monday, August 10th were paid a $0.05 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.20 annualized dividend and a yield of 5.8%. Tronox’s dividend payout ratio (DPR) is -5.78%.

Hedge Funds Weigh In On Tronox

Several hedge funds have recently modified their holdings of TROX. Bank of New York Mellon Corp grew its holdings in shares of Tronox by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 500,461 shares of the company’s stock valued at $4,890,000 after acquiring an additional 3,225 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Tronox by 6.3% during the first quarter. Lazard Asset Management LLC now owns 64,985 shares of the company’s stock worth $635,000 after acquiring an additional 3,861 shares during the period. Swiss National Bank lifted its holdings in Tronox by 2.6% during the first quarter. Swiss National Bank now owns 235,300 shares of the company’s stock worth $2,299,000 after acquiring an additional 5,900 shares during the period. CoreCap Advisors LLC purchased a new position in Tronox in the third quarter worth $30,000. Finally, Quantinno Capital Management LP boosted its position in Tronox by 6.7% in the first quarter. Quantinno Capital Management LP now owns 167,851 shares of the company’s stock worth $1,640,000 after purchasing an additional 10,595 shares during the last quarter. Institutional investors own 73.36% of the company’s stock.

About Tronox

Tronox Holdings plc (NYSE:TROX) is a global producer of titanium dioxide pigment and other titanium products. Its titanium dioxide is used to provide whiteness, brightness and opacity in paints and coatings, plastics, paper, inks and related applications. The company also produces zircon and other mineral sands products used in ceramics, refractories, foundries and industrial applications.

Tronox operates an integrated business that includes the mining of mineral sands, production of titanium-bearing feedstocks, and manufacture of titanium dioxide pigment and specialty products.