Tronox (NYSE:TROX) Downgraded by UBS Group to Neutral

UBS Group cut shares of Tronox (NYSE:TROX) from a buy rating to a neutral rating in a research report report published on Monday morning, Marketbeat reports. They currently have $3.60 price objective on the stock, down from their previous price objective of $8.00.

A number of other equities analysts have also commented on the stock. Mizuho cut their price objective on shares of Tronox from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, July 15th. JPMorgan Chase & Co. upgraded shares of Tronox from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $5.00 to $7.00 in a report on Friday, May 30th. Truist Financial cut their price objective on shares of Tronox from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Wall Street Zen lowered shares of Tronox from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Finally, BMO Capital Markets lowered shares of Tronox from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $7.00 to $3.00 in a report on Monday, June 30th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Tronox presently has a consensus rating of “Hold” and an average price target of $6.51.

Tronox Stock Performance

NYSE:TROX opened at $3.19 on Monday. The company has a current ratio of 2.10, a quick ratio of 0.52 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $505.01 million, a price-to-earnings ratio of -2.02 and a beta of 1.35. The firm’s fifty day simple moving average is $5.40 and its 200 day simple moving average is $6.46. Tronox has a twelve month low of $2.95 and a twelve month high of $15.07.

Tronox (NYSE:TROX) last posted its earnings results on Wednesday, July 30th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.24). The business had revenue of $731.00 million for the quarter, compared to analyst estimates of $802.03 million. Tronox had a negative net margin of 8.48% and a negative return on equity of 4.83%. The business’s revenue was down 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 EPS. As a group, equities research analysts expect that Tronox will post 0.49 earnings per share for the current fiscal year.

Tronox Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, October 3rd. Stockholders of record on Tuesday, August 12th will be paid a $0.05 dividend. This represents a dividend yield of 629.0%. The ex-dividend date is Monday, August 11th. Tronox’s dividend payout ratio is -31.65%.

Insider Activity

In related news, SVP Jeffrey N. Neuman bought 10,266 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $4.89 per share, for a total transaction of $50,200.74. Following the purchase, the senior vice president owned 10,266 shares in the company, valued at $50,200.74. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jeffrey A. Engle bought 12,600 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was bought at an average price of $3.07 per share, for a total transaction of $38,682.00. Following the purchase, the senior vice president owned 146,926 shares in the company, valued at approximately $451,062.82. This represents a 9.38% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 122,866 shares of company stock worth $397,883. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tronox

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in Tronox during the first quarter worth about $102,000. Deutsche Bank AG raised its stake in Tronox by 52.8% during the fourth quarter. Deutsche Bank AG now owns 101,764 shares of the company’s stock worth $1,025,000 after acquiring an additional 35,146 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Tronox by 36.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 32,936 shares of the company’s stock worth $232,000 after acquiring an additional 8,777 shares during the period. Vanguard Group Inc. raised its stake in Tronox by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 12,650,443 shares of the company’s stock worth $127,390,000 after acquiring an additional 193,895 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Tronox during the fourth quarter worth about $254,000. 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.