Tronox (NYSE:TROX) Hits New 52-Week Low – Time to Sell?

Tronox Holdings plc (NYSE:TROX)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $7.72 and last traded at $7.77, with a volume of 135507 shares changing hands. The stock had previously closed at $7.74.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TROX. UBS Group lowered their price target on Tronox from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Truist Financial lowered their price target on Tronox from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. The Goldman Sachs Group lowered their price target on Tronox from $13.00 to $11.50 and set a “buy” rating on the stock in a report on Wednesday. Finally, Morgan Stanley lowered their price target on Tronox from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.36.

Tronox Stock Performance

The business has a fifty day simple moving average of $9.48 and a two-hundred day simple moving average of $11.57. The company has a quick ratio of 0.90, a current ratio of 2.47 and a debt-to-equity ratio of 1.54. The company has a market cap of $1.22 billion, a P/E ratio of -25.00 and a beta of 1.60.

Tronox (NYSE:TROX) last posted its earnings results on Wednesday, February 12th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Tronox had a negative net margin of 1.56% and a negative return on equity of 0.63%. On average, sell-side analysts anticipate that Tronox Holdings plc will post 0.49 EPS for the current year.

Tronox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 3rd will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date is Monday, March 3rd. Tronox’s dividend payout ratio is -161.29%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TROX. Harbor Capital Advisors Inc. raised its stake in shares of Tronox by 35.1% in the third quarter. Harbor Capital Advisors Inc. now owns 64,417 shares of the company’s stock worth $942,000 after buying an additional 16,752 shares during the period. Van ECK Associates Corp raised its stake in shares of Tronox by 15.1% in the third quarter. Van ECK Associates Corp now owns 1,065,710 shares of the company’s stock worth $14,302,000 after buying an additional 139,795 shares during the period. Entropy Technologies LP bought a new position in shares of Tronox in the third quarter worth about $190,000. Aigen Investment Management LP bought a new position in shares of Tronox in the third quarter worth about $363,000. Finally, Victory Capital Management Inc. raised its stake in shares of Tronox by 54.6% in the third quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock worth $22,497,000 after buying an additional 543,091 shares during the period. 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.