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

Tronox Holdings plc (NYSE:TROX) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $11.03 and last traded at $11.05, with a volume of 211115 shares traded. The stock had previously closed at $11.51.

Analyst Ratings Changes

A number of research firms have recently issued reports on TROX. BMO Capital Markets cut their price target on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Barclays cut their target price on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. The Goldman Sachs Group lowered their price target on Tronox from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. UBS Group raised Tronox from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $17.00 to $19.00 in a research note on Thursday, October 10th. Finally, StockNews.com raised Tronox from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Tronox has an average rating of “Moderate Buy” and an average target price of $18.00.

Tronox Trading Down 0.3 %

The company has a quick ratio of 0.90, a current ratio of 2.72 and a debt-to-equity ratio of 1.42. The business has a 50-day moving average of $13.03 and a 200-day moving average of $15.46. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -22.67 and a beta of 1.66.

Tronox (NYSE:TROX) last announced its 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). Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. The company had revenue of $804.00 million for the quarter, compared to the consensus estimate of $790.63 million. During the same period in the previous year, the company earned ($0.08) EPS. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, research analysts forecast that Tronox Holdings plc will post -0.04 earnings per share for the current year.

Tronox Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 11th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date is Friday, November 8th. Tronox’s dividend payout ratio (DPR) is currently -104.17%.

Institutional Trading of Tronox

A number of hedge funds have recently modified their holdings of TROX. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Tronox in the 2nd quarter valued at $76,000. Headlands Technologies LLC bought a new position in shares of Tronox in the second quarter worth about $83,000. SG Americas Securities LLC bought a new position in Tronox in the 1st quarter valued at $124,000. nVerses Capital LLC acquired a new position in Tronox during the 2nd quarter valued at about $121,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Tronox by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,232 shares of the company’s stock valued at $178,000 after acquiring an additional 861 shares during the last quarter. 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.