Tronox Holdings PLC (NYSE:TROX) Stock Now Rated “Reduce” by Sell-Side Brokerages

Shares of Tronox Holdings PLC (NYSE:TROX) have received an average rating of “Reduce” from the nine brokerages that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $5.33.

A number of brokerages have recently issued reports on TROX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tronox in a research report on Wednesday, November 4th. Mizuho reduced their target price on Tronox from $5.50 to $4.50 and set an “underperform” rating for the company in a research note on Wednesday, September 30th. Truist Financial dropped their price objective on shares of Tronox from $7.00 to $4.00 and set a “hold” rating on the stock in a report on Tuesday, October 20th. UBS Group decreased their price target on Tronox from $7.00 to $4.50 and set a “neutral” rating for the company in a report on Monday, October 5th. Finally, The Goldman Sachs Group dropped their target price on Tronox from $6.50 to $4.00 and set a “sell” rating on the stock in a research report on Friday, October 9th.

Insider Transactions at Tronox

In related news, Director Peter Johnston purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was purchased at an average price of $2.63 per share, with a total value of $52,600.00. Following the completion of the acquisition, the director owned 224,461 shares in the company, valued at $590,332.43. This trade represents a 9.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Tronox

A number of institutional investors and hedge funds have recently made changes to their positions in TROX. Royal Bank of Canada lifted its holdings in Tronox by 21,419.9% during the 1st quarter. Royal Bank of Canada now owns 1,065,665 shares of the company’s stock worth $10,412,000 after buying an additional 1,060,713 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Tronox during the second quarter worth approximately $4,355,000. Shah Capital Management raised its stake in Tronox by 13.4% during the 3rd quarter. Shah Capital Management now owns 2,915,807 shares of the company’s stock worth $11,517,000 after acquiring an additional 344,993 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Tronox during the first quarter worth about $2,102,000. Finally, Jennison Associates LLC acquired a new stake in shares of Tronox during the first quarter worth about $850,000. 73.36% of the stock is owned by hedge funds and other institutional investors.

Tronox Stock Up 5.5%

Shares of TROX opened at $2.86 on Wednesday. Tronox has a 52-week low of $2.41 and a 52-week high of $10.59. The company has a quick ratio of 0.81, a current ratio of 2.52 and a debt-to-equity ratio of 2.70. The business has a fifty day moving average of $3.86 and a 200 day moving average of $6.51. The company has a market cap of $456.42 million, a PE ratio of -0.90 and a beta of 0.98.

Tronox (NYSE:TROX) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.13). The business had revenue of $827.00 million for the quarter, compared to analysts’ expectations of $854.43 million. Tronox had a negative net margin of 15.86% and a negative return on equity of 25.02%. Tronox’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.46) EPS. On average, sell-side analysts expect that Tronox will post -1.49 EPS for the current year.

Tronox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, November 16th will be issued a $0.05 dividend. The ex-dividend date is Monday, November 16th. This represents a $0.20 dividend on an annualized basis and a yield of 7.0%. Tronox’s dividend payout ratio (DPR) is presently -6.31%.

Tronox Company Profile

Tronox Holdings plc is a vertically integrated producer of titanium dioxide (TiO₂) pigment and mineral-sands products. Its operations span the value chain from mining titanium-bearing mineral sands to processing them into feedstocks and finished products. The company’s products include TiO₂ pigment, used to add whiteness, brightness and opacity to paints, coatings, plastics and other materials. Tronox also produces titanium feedstocks such as chloride-grade slag and synthetic rutile, as well as zircon, which is used in ceramics and other applications.