Tronox (NYSE:TROX) Sets New 1-Year Low – What’s Next?

Tronox Holdings plc (NYSE:TROX) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $9.44 and last traded at $9.45, with a volume of 359089 shares. The stock had previously closed at $9.49.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TROX shares. Barclays lowered their price target on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. The Goldman Sachs Group decreased their price target on shares of Tronox from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday. BMO Capital Markets cut their price objective on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Finally, UBS Group upgraded shares of Tronox from a “neutral” rating to a “buy” rating and raised their target price for the stock from $17.00 to $19.00 in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.40.

Tronox Price Performance

The company’s 50-day moving average is $11.12 and its 200-day moving average is $13.17. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -19.08 and a beta of 1.62. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 0.90.

Tronox (NYSE:TROX) last announced its quarterly earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). The company had revenue of $804.00 million during the quarter, compared to analyst estimates of $790.63 million. Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.08) EPS. On average, research analysts expect that Tronox Holdings plc will post -0.04 earnings per share for the current year.

Tronox Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 11th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.50 annualized dividend and a yield of 5.46%. Tronox’s dividend payout ratio is presently -104.17%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP grew its stake in Tronox by 98.6% during the third quarter. Quantbot Technologies LP now owns 174,922 shares of the company’s stock worth $2,559,000 after buying an additional 86,852 shares during the period. Royce & Associates LP boosted its position in Tronox by 20.8% during the 3rd quarter. Royce & Associates LP now owns 493,543 shares of the company’s stock worth $7,221,000 after purchasing an additional 84,830 shares during the period. Geode Capital Management LLC boosted its position in Tronox by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,713,606 shares of the company’s stock worth $39,708,000 after purchasing an additional 22,165 shares during the period. Algert Global LLC raised its position in Tronox by 127.2% in the second quarter. Algert Global LLC now owns 309,051 shares of the company’s stock valued at $4,849,000 after purchasing an additional 173,054 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Tronox by 54.6% during the third quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock worth $22,497,000 after purchasing an additional 543,091 shares in the last quarter. Hedge funds and other 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.