Tronox (NYSE:TROX) Hits New 12-Month Low – Here’s Why

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

Analyst Upgrades and Downgrades

A number of research firms have commented on TROX. StockNews.com upgraded shares of Tronox from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. BMO Capital Markets lowered their target price 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 lowered their price target on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. UBS Group raised shares of 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 report on Thursday, October 10th. Finally, The Goldman Sachs Group dropped their price target on shares of Tronox from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.00.

Tronox Trading Down 3.9 %

The stock has a market cap of $1.75 billion, a P/E ratio of -23.98 and a beta of 1.66. The company has a 50-day moving average price of $13.11 and a two-hundred day moving average price of $15.54. The company has a current ratio of 2.72, a quick ratio of 0.90 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). Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. The business had revenue of $804.00 million during the quarter, compared to analyst estimates of $790.63 million. During the same quarter last year, the company posted ($0.08) EPS. Tronox’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, research analysts expect that Tronox Holdings plc will post -0.04 EPS for the current fiscal year.

Tronox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be issued a dividend of $0.125 per share. The ex-dividend date is Friday, November 8th. This represents a $0.50 annualized dividend and a yield of 4.52%. Tronox’s dividend payout ratio (DPR) is -104.17%.

Hedge Funds Weigh In On Tronox

Several hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Tronox during the second quarter worth about $76,000. Headlands Technologies LLC purchased a new stake in shares of Tronox in the 2nd quarter worth about $83,000. SG Americas Securities LLC acquired a new stake in Tronox in the 1st quarter valued at about $124,000. nVerses Capital LLC purchased a new position in Tronox during the second quarter worth $121,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Tronox by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,232 shares of the company’s stock worth $178,000 after purchasing an additional 861 shares during the last quarter. Hedge funds and other institutional investors own 73.36% of the company’s stock.

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.