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

Tronox Holdings plc (NYSE:TROX)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $10.68 and last traded at $10.68, with a volume of 858490 shares trading hands. The stock had previously closed at $10.98.

Wall Street Analyst Weigh In

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

Tronox Stock Down 2.7 %

The firm has a 50 day simple moving average of $12.57 and a two-hundred day simple moving average of $14.47. The company has a quick ratio of 0.90, a current ratio of 2.72 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $1.69 billion, a P/E ratio of -22.92 and a beta of 1.59.

Tronox (NYSE:TROX) last issued its earnings results on Thursday, October 24th. The company reported ($0.13) EPS 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 for the quarter, compared to analyst estimates of $790.63 million. During the same period in the previous year, the firm posted ($0.08) EPS. The firm’s revenue was up 21.5% compared to the same quarter last year. On average, equities research analysts expect that Tronox Holdings plc will post -0.04 earnings per share for the current year.

Tronox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 11th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, November 8th. Tronox’s payout ratio is -104.17%.

Institutional Investors Weigh In On Tronox

A number of hedge funds and other institutional investors have recently bought and sold shares of TROX. Driehaus Capital Management LLC boosted its position in Tronox by 109.3% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,646,916 shares of the company’s stock worth $41,530,000 after buying an additional 1,381,975 shares during the period. FMR LLC lifted its holdings in shares of Tronox by 4.7% during the third quarter. FMR LLC now owns 23,805,227 shares of the company’s stock worth $348,270,000 after purchasing an additional 1,073,674 shares during the period. Victory Capital Management Inc. grew its stake in shares of Tronox by 54.6% in 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 during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Tronox in the second quarter worth $4,489,000. Finally, Algert Global LLC increased its holdings in Tronox by 77.0% in the third quarter. Algert Global LLC now owns 546,967 shares of the company’s stock valued at $8,002,000 after purchasing an additional 237,916 shares during the period. 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.