Tronox (NYSE:TROX) Stock Price Up 12.5% After Insider Buying Activity

Tronox Holdings plc (NYSE:TROX)’s share price rose 12.5% during trading on Monday following insider buying activity. The stock traded as high as $5.92 and last traded at $5.91. Approximately 945,059 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 1,500,490 shares. The stock had previously closed at $5.25.

Specifically, SVP Jeffrey N. Neuman bought 10,266 shares of Tronox stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost of $4.89 per share, with a total value of $50,200.74. Following the completion of the acquisition, the senior vice president now directly owns 10,266 shares in the company, valued at approximately $50,200.74. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com cut Tronox from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Mizuho dropped their price objective on shares of Tronox from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Truist Financial reduced their target price on shares of Tronox from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group dropped their price target on shares of Tronox from $11.50 to $7.50 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $7.00 price objective (down from $13.00) on shares of Tronox in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Tronox currently has a consensus rating of “Hold” and a consensus price target of $9.64.

Tronox Stock Performance

The business’s fifty day moving average price is $6.02 and its 200-day moving average price is $8.80. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.47 and a quick ratio of 0.90. The stock has a market capitalization of $900.25 million, a PE ratio of -18.39 and a beta of 1.40.

Tronox (NYSE:TROX) last posted its earnings results on Wednesday, April 30th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The firm had revenue of $738.00 million for the quarter, compared to the consensus estimate of $745.96 million. Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. The business’s revenue was down 4.7% on a year-over-year basis. During the same period last year, the company posted ($0.05) EPS. As a group, equities research analysts expect that Tronox Holdings plc will post 0.49 EPS for the current year.

Tronox Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Monday, May 19th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 8.77%. The ex-dividend date of this dividend is Monday, May 19th. Tronox’s dividend payout ratio (DPR) is presently -52.63%.

Institutional Trading of Tronox

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans grew its stake in Tronox by 60.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company’s stock worth $69,869,000 after buying an additional 2,616,804 shares in the last quarter. Nuveen LLC purchased a new position in Tronox in the 1st quarter worth approximately $17,268,000. Lightrock Netherlands B.V. purchased a new position in Tronox in the 4th quarter worth approximately $9,183,000. Capital International Investors grew its stake in Tronox by 14.8% in the 4th quarter. Capital International Investors now owns 6,060,943 shares of the company’s stock worth $61,034,000 after buying an additional 781,223 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Tronox by 26.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,630,144 shares of the company’s stock worth $26,486,000 after buying an additional 551,645 shares in the last quarter. Institutional investors 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.