Tronox (NYSE:TROX) Sets New 12-Month Low – Time to Sell?

Tronox Holdings plc (NYSE:TROX)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $6.59 and last traded at $6.71, with a volume of 248232 shares trading hands. The stock had previously closed at $7.04.

Wall Street Analyst Weigh In

TROX has been the subject of a number of research analyst reports. Truist Financial decreased their price target on shares of Tronox from $17.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. UBS Group cut their price objective on Tronox from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Mizuho cut their price target on shares of Tronox from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Morgan Stanley decreased their price objective on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, The Goldman Sachs Group cut their price objective on shares of Tronox from $13.00 to $11.50 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.50.

Tronox Price Performance

The stock has a market capitalization of $1.08 billion, a PE ratio of -22.10 and a beta of 1.64. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.47 and a quick ratio of 0.90. The stock’s fifty day moving average is $8.24 and its 200-day moving average is $10.59.

Tronox (NYSE:TROX) last posted its earnings results on Wednesday, February 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. As a group, equities analysts predict that Tronox Holdings plc will post 0.49 earnings per share for the current fiscal year.

Tronox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 3rd will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.50 dividend on an annualized basis and a yield of 7.30%. Tronox’s dividend payout ratio is currently -161.29%.

Insider Buying and Selling

In other news, Director Stephen J. Jones acquired 30,000 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were bought at an average cost of $7.17 per share, for a total transaction of $215,100.00. Following the acquisition, the director now owns 30,000 shares in the company, valued at approximately $215,100. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Trading of Tronox

A number of institutional investors have recently made changes to their positions in TROX. Thrivent Financial for Lutherans lifted its holdings in Tronox by 60.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company’s stock valued at $69,869,000 after purchasing an additional 2,616,804 shares in the last quarter. Lightrock Netherlands B.V. purchased a new position in shares of Tronox in the fourth quarter worth about $9,183,000. Capital International Investors boosted its position in Tronox by 14.8% during the fourth quarter. Capital International Investors now owns 6,060,943 shares of the company’s stock worth $61,034,000 after acquiring an additional 781,223 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Tronox by 26.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,630,144 shares of the company’s stock valued at $26,486,000 after acquiring an additional 551,645 shares in the last quarter. Finally, Aristotle Capital Boston LLC raised its holdings in Tronox by 121.8% in the 4th quarter. Aristotle Capital Boston LLC now owns 951,277 shares of the company’s stock valued at $9,579,000 after acquiring an additional 522,412 shares during the last quarter. 73.36% of the stock is owned by institutional investors and hedge funds.

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.