Tronox (NYSE:TROX) Stock: Insider Peter Johnston Purchases 20,000 Shares

Tronox Holdings PLC (NYSE:TROX) Director Peter Johnston bought 20,000 shares of the stock in a transaction that occurred on Monday, November 9th. The shares were purchased at an average price of $2.63 per share, for a total transaction of $52,600.00. Following the purchase, the director owned 224,461 shares in the company, valued at $590,332.43. This represents a 9.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Tronox Trading Down 1.6%

Shares of Tronox stock opened at $2.81 on Thursday. The company has a market capitalization of $447.96 million, a P/E ratio of -0.88 and a beta of 0.98. The company has a debt-to-equity ratio of 2.70, a quick ratio of 0.81 and a current ratio of 2.52. The company has a fifty day moving average of $3.81 and a 200 day moving average of $6.49. Tronox Holdings PLC has a fifty-two week low of $2.41 and a fifty-two week high of $10.59.

Tronox (NYSE:TROX) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $854.43 million. Tronox had a negative return on equity of 25.02% and a negative net margin of 15.86%. The company’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.46) EPS. On average, sell-side analysts anticipate that Tronox Holdings PLC will post -1.68 earnings per share for the current fiscal year.

Tronox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, November 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.1%. Tronox’s dividend payout ratio is -6.31%.

Analyst Ratings Changes

Several brokerages recently issued reports on TROX. The Goldman Sachs Group decreased their target price on Tronox from $6.50 to $4.00 and set a “sell” rating on the stock in a research note on Friday, October 9th. Zacks Research cut Tronox from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Tronox in a research note on Wednesday, November 4th. UBS Group cut their price objective on shares of Tronox from $4.50 to $2.75 and set a “neutral” rating for the company in a report on Wednesday. Finally, Truist Financial cut their price objective on shares of Tronox from $7.00 to $4.00 and set a “hold” rating for the company in a report on Tuesday, October 20th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Tronox has a consensus rating of “Reduce” and a consensus target price of $5.04.

Institutional Trading of Tronox

Hedge funds have recently bought and sold shares of the stock. Ieq Capital LLC bought a new stake in shares of Tronox in the third quarter worth about $52,000. Russell Investments Group Ltd. lifted its position in shares of Tronox by 19.6% in the third quarter. Russell Investments Group Ltd. now owns 157,808 shares of the company’s stock worth $623,000 after buying an additional 25,884 shares in the last quarter. Inscription Capital LLC boosted its stake in Tronox by 98.8% during the third quarter. Inscription Capital LLC now owns 20,317 shares of the company’s stock valued at $80,000 after buying an additional 10,098 shares during the last quarter. Vise Technologies Inc. boosted its stake in Tronox by 33.0% during the third quarter. Vise Technologies Inc. now owns 19,981 shares of the company’s stock valued at $79,000 after buying an additional 4,958 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in Tronox during the 3rd quarter valued at approximately $116,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

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.