Tronox (NYSE:TROX) Stock Falls 7.6% – Here’s What Happened

Tronox Holdings PLC (NYSE:TROX)’s share price traded down 7.6% on Monday. The stock traded as low as $3.41 and last traded at $3.3550. Approximately 597,647 shares traded hands during trading, a decline of 81% from the average session volume of 3,110,396 shares. The stock had previously closed at $3.63.

Analyst Ratings Changes

Several research analysts recently issued reports on TROX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Tronox in a research note on Friday, August 7th. JPMorgan Chase & Co. lowered Tronox from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $7.00 to $5.00 in a research report on Thursday, August 13th. UBS Group lowered their target price on Tronox from $7.00 to $4.50 and set a “neutral” rating for the company in a report on Monday, October 5th. Mizuho dropped their price target on Tronox from $5.50 to $4.50 and set an “underperform” rating on the stock in a research report on Wednesday, September 30th. Finally, The Goldman Sachs Group dropped their price target on Tronox from $6.50 to $4.00 and set a “sell” rating on the stock in a research report on Friday. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $5.83.

Tronox Price Performance

The company has a current ratio of 2.55, a quick ratio of 0.81 and a debt-to-equity ratio of 2.62. The firm’s 50-day moving average price is $4.84 and its two-hundred day moving average price is $6.77. The stock has a market cap of $558.15 million, a PE ratio of -1.01 and a beta of 0.92.

Tronox (NYSE:TROX) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.13). The business had revenue of $868.00 million for the quarter, compared to analysts’ expectations of $832.59 million. Tronox had a negative net margin of 17.96% and a negative return on equity of 24.34%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.28) earnings per share. On average, equities analysts expect that Tronox Holdings PLC will post -1.37 earnings per share for the current fiscal year.

Tronox Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Monday, August 10th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Monday, August 10th. Tronox’s dividend payout ratio (DPR) is -5.78%.

Institutional Inflows and Outflows

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

Tronox Company Profile

Tronox Holdings plc (NYSE:TROX) is a global producer of titanium dioxide pigment, a white pigment used to provide brightness, opacity and durability in products such as paints and coatings, plastics, paper and specialty materials. The company also produces titanium feedstocks, including titanium slag and synthetic rutile, as well as zircon and other mineral-sands products.

Tronox operates an integrated business that spans the mining and processing of mineral sands, the production of titanium feedstocks and the manufacture of titanium dioxide pigment.