Tronox (NYSE:TROX) Hits New 52-Week Low – Here’s Why

Tronox Holdings plc (NYSE:TROX) reached a new 52-week low 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.

Analysts Set New Price Targets

TROX has been the topic of several research analyst reports. The Goldman Sachs Group reduced their price objective on shares of Tronox from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. UBS Group raised shares of Tronox from a “neutral” rating to a “buy” rating and boosted their price target for the company from $17.00 to $19.00 in a research note on Thursday, October 10th. Barclays dropped their target price on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Finally, BMO Capital Markets decreased their price target on Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Tronox Stock Performance

The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.90 and a current ratio of 2.72. The stock has a market capitalization of $1.50 billion, a PE ratio of -19.83 and a beta of 1.62. The firm’s 50 day moving average is $11.29 and its two-hundred day moving average is $13.32.

Tronox (NYSE:TROX) last released its earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. The company had revenue of $804.00 million during the quarter, compared to analysts’ expectations of $790.63 million. During the same quarter last year, the business posted ($0.08) earnings per share. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. As a group, research analysts predict 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 issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 5.25%. The ex-dividend date of this dividend was Friday, November 8th. Tronox’s dividend payout ratio (DPR) is presently -104.17%.

Institutional Investors Weigh In On Tronox

A number of hedge funds and other institutional investors have recently modified their holdings of TROX. Public Employees Retirement System of Ohio acquired a new position in shares of Tronox during the third quarter worth $66,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Tronox during the 2nd quarter worth about $76,000. Headlands Technologies LLC acquired a new position in shares of Tronox during the 2nd quarter worth about $83,000. nVerses Capital LLC increased its holdings in shares of Tronox by 35.1% in the 3rd quarter. nVerses Capital LLC now owns 10,400 shares of the company’s stock valued at $152,000 after acquiring an additional 2,700 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Tronox during the 3rd quarter worth about $190,000. 73.36% of the stock is currently owned by institutional investors and hedge funds.

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.