Tronox (NYSE:TROX) Stock Price Down 3.2%

Tronox Holdings plc (NYSE:TROX)’s stock price fell 3.2% on Tuesday . The company traded as low as $17.95 and last traded at $17.95. 34,961 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 1,116,562 shares. The stock had previously closed at $18.54.

Analyst Ratings Changes

Several research firms recently commented on TROX. StockNews.com lowered shares of Tronox from a “hold” rating to a “sell” rating in a research note on Tuesday, June 11th. Mizuho started coverage on Tronox in a research report on Friday, June 7th. They set a “neutral” rating and a $22.00 price target on the stock. BMO Capital Markets increased their price objective on Tronox from $19.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Barclays boosted their target price on Tronox from $17.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Finally, The Goldman Sachs Group increased their price target on Tronox from $17.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Tronox presently has a consensus rating of “Hold” and an average price target of $18.00.

Tronox Stock Performance

The firm has a 50-day moving average of $18.69 and a 200-day moving average of $16.13. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.12 and a quick ratio of 1.09.

Tronox (NYSE:TROX) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.06). The firm had revenue of $774.00 million during the quarter, compared to analysts’ expectations of $753.98 million. Tronox had a negative return on equity of 2.74% and a negative net margin of 11.93%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 earnings per share. On average, analysts expect that Tronox Holdings plc will post 0.71 earnings per share for the current fiscal year.

Tronox Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Monday, May 20th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Friday, May 17th. Tronox’s payout ratio is -22.42%.

Institutional Trading of Tronox

A number of hedge funds and other institutional investors have recently made changes to their positions in TROX. Rhumbline Advisers grew its position in Tronox by 1.2% during the 3rd quarter. Rhumbline Advisers now owns 183,441 shares of the company’s stock worth $2,465,000 after purchasing an additional 2,139 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Tronox during the third quarter worth about $50,000. Natixis Advisors L.P. raised its position in Tronox by 4.9% during the third quarter. Natixis Advisors L.P. now owns 20,471 shares of the company’s stock valued at $275,000 after acquiring an additional 959 shares in the last quarter. Covalis Capital LLP acquired a new position in Tronox in the third quarter valued at approximately $3,046,000. Finally, Neo Ivy Capital Management purchased a new stake in Tronox in the 3rd quarter worth approximately $395,000. Institutional investors and hedge funds 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.