Tronox (NYSE:TROX) Reaches New 12-Month Low - Here's What Happened

Shares of Tronox Holdings plc (NYSE:TROX - Get Free Report) hit a new 52-week low during trading on Monday . The company traded as low as $8.73 and last traded at $8.81, with a volume of 92654 shares. The stock had previously closed at $9.07.

Analyst Ratings Changes

A number of brokerages have commented on TROX. The Goldman Sachs Group cut their price objective on shares of Tronox from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Morgan Stanley cut their target price on shares of Tronox from $16.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Monday. Barclays cut their target price on shares of Tronox from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Monday, October 28th. UBS Group upgraded shares of Tronox from a "neutral" rating to a "buy" rating and upped their target price for the company from $17.00 to $19.00 in a research note on Thursday, October 10th. Finally, BMO Capital Markets cut their target price on shares of Tronox from $21.00 to $17.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $16.50.

Tronox Trading Up 2.6 %

The company has a current ratio of 2.72, a quick ratio of 0.90 and a debt-to-equity ratio of 1.42. The business's 50-day moving average is $11.00 and its two-hundred day moving average is $13.03. The firm has a market cap of $1.47 billion, a P/E ratio of -19.40 and a beta of 1.62.

Tronox (NYSE:TROX - Get Free Report) last announced its quarterly earnings data 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). Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. The business had revenue of $804.00 million for the quarter, compared to the consensus estimate of $790.63 million. During the same period in the prior year, the company earned ($0.08) EPS. Tronox's quarterly revenue was up 21.5% on a year-over-year basis. As a group, analysts expect that Tronox Holdings plc will post -0.04 earnings per share for the current fiscal year.

Tronox Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 11th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend was Friday, November 8th. Tronox's dividend payout ratio (DPR) is -104.17%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its stake in Tronox by 8.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 69,726 shares of the company's stock valued at $702,000 after purchasing an additional 5,309 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Tronox by 5.9% during the third quarter. JPMorgan Chase & Co. now owns 841,230 shares of the company's stock valued at $12,307,000 after purchasing an additional 46,721 shares during the last quarter. Geode Capital Management LLC lifted its stake in Tronox by 0.8% during the third quarter. Geode Capital Management LLC now owns 2,713,606 shares of the company's stock valued at $39,708,000 after purchasing an additional 22,165 shares during the last quarter. Barclays PLC lifted its stake in Tronox by 320.1% during the third quarter. Barclays PLC now owns 182,629 shares of the company's stock valued at $2,672,000 after purchasing an additional 139,161 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Tronox during the third quarter valued at approximately $66,000. 73.36% of the stock is currently owned by institutional investors.

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.