Tronox (NYSE:TROX) Sets New 12-Month Low After Analyst Downgrade

Tronox Holdings plc (NYSE:TROX)’s stock price reached a new 52-week low during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $16.00 to $12.00. Morgan Stanley currently has an equal weight rating on the stock. Tronox traded as low as $8.73 and last traded at $8.81, with a volume of 92654 shares. The stock had previously closed at $9.07.

TROX has been the topic of a number of other research reports. The Goldman Sachs Group decreased their target price on Tronox from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Barclays decreased their price objective on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, October 28th. BMO Capital Markets lowered their target price on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Finally, UBS Group raised shares of Tronox from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $17.00 to $19.00 in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Tronox currently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Tronox during the third quarter worth $66,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Tronox in the 2nd quarter valued at about $76,000. Headlands Technologies LLC bought a new stake in shares of Tronox in the second quarter valued at about $83,000. nVerses Capital LLC lifted its holdings in shares of Tronox by 35.1% in the third quarter. nVerses Capital LLC now owns 10,400 shares of the company’s stock valued at $152,000 after purchasing an additional 2,700 shares in the last quarter. Finally, MQS Management LLC acquired a new position in shares of Tronox during the second quarter worth about $195,000. Institutional investors own 73.36% of the company’s stock.

Tronox Stock Performance

The firm has a market capitalization of $1.54 billion, a P/E ratio of -20.35 and a beta of 1.62. The stock has a fifty day moving average of $10.95 and a 200-day moving average of $12.99. The company has a quick ratio of 0.90, a current ratio of 2.72 and a debt-to-equity ratio of 1.42.

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

Tronox Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 11th were given a dividend of $0.125 per share. The ex-dividend date was Friday, November 8th. This represents a $0.50 annualized dividend and a yield of 5.12%. Tronox’s dividend payout ratio (DPR) is presently -104.17%.

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.