Tronox (NYSE:TROX) Shares Gap Down – Here’s What Happened

Tronox Holdings PLC (NYSE:TROX)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $4.06, but opened at $3.87. Tronox shares last traded at $3.95, with a volume of 729,824 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on TROX. Morgan Stanley reduced their price target on shares of Tronox from $8.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 6th. Truist Financial upped their price target on shares of Tronox from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Weiss Ratings restated a “sell (d)” rating on shares of Tronox in a research report on Saturday, September 27th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Tronox in a research report on Friday. Finally, Alembic Global Advisors restated an “overweight” rating and issued a $6.00 price target on shares of Tronox in a research report on Monday, September 15th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.07.

Tronox Stock Up 0.4%

The stock has a market cap of $645.97 million, a P/E ratio of -2.58 and a beta of 1.28. 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’s fifty day moving average is $4.19 and its 200 day moving average is $5.11.

Tronox (NYSE:TROX) last announced its earnings results on Wednesday, July 30th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.24). The firm had revenue of $731.00 million during the quarter, compared to the consensus estimate of $802.03 million. Tronox had a negative return on equity of 4.83% and a negative net margin of 8.48%.The business’s revenue was down 10.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 EPS. Tronox has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Tronox Holdings PLC will post 0.49 EPS for the current year.

Tronox Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, August 11th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 4.9%. The ex-dividend date was Monday, August 11th. Tronox’s dividend payout ratio (DPR) is -12.66%.

Insider Transactions at Tronox

In other news, Director Stephen J. Jones bought 8,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were purchased at an average price of $3.19 per share, for a total transaction of $25,520.00. Following the acquisition, the director directly owned 51,000 shares of the company’s stock, valued at $162,690. The trade was a 18.60% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John D. Romano bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $3.09 per share, for a total transaction of $309,000.00. Following the acquisition, the chief executive officer directly owned 1,333,485 shares in the company, valued at approximately $4,120,468.65. This trade represents a 8.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 184,750 shares of company stock worth $579,714. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Tronox

Several hedge funds and other institutional investors have recently bought and sold shares of TROX. GAMMA Investing LLC grew its position in Tronox by 1,070.2% in the 1st quarter. GAMMA Investing LLC now owns 11,257 shares of the company’s stock worth $79,000 after purchasing an additional 10,295 shares during the last quarter. SG Americas Securities LLC grew its position in Tronox by 6.2% in the 1st quarter. SG Americas Securities LLC now owns 42,677 shares of the company’s stock worth $300,000 after purchasing an additional 2,482 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Tronox in the 1st quarter worth $218,000. Wealth Enhancement Advisory Services LLC grew its position in Tronox by 36.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 32,936 shares of the company’s stock worth $232,000 after purchasing an additional 8,777 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Tronox in the 1st quarter worth $102,000. 73.36% of the stock is currently owned by institutional investors and hedge funds.

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.