Investors Buy High Volume of Call Options on Tronox (NYSE:TROX)


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Tronox Holdings plc (NYSE:TROX) saw unusually large options trading on Wednesday. Stock traders bought 6,575 call options on the stock. This represents an increase of 591% compared to the average daily volume of 952 call options.

In other Tronox news, CEO Jean Francois Turgeon sold 17,575 shares of the business’s stock in a transaction on Monday, March 8th. The shares were sold at an average price of $18.34, for a total transaction of $322,325.50. Following the completion of the sale, the chief executive officer now directly owns 533,358 shares in the company, valued at approximately $9,781,785.72. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Jeffrey N. Neuman sold 16,237 shares of the stock in a transaction on Monday, March 8th. The shares were sold at an average price of $18.33, for a total value of $297,624.21. Following the transaction, the senior vice president now directly owns 133,164 shares in the company, valued at $2,440,896.12. The disclosure for this sale can be found here. Insiders sold a total of 48,801 shares of company stock valued at $898,745 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in TROX. The Manufacturers Life Insurance Company grew its position in shares of Tronox by 2.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 51,307 shares of the company’s stock worth $750,000 after purchasing an additional 1,097 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Tronox by 34.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,500 shares of the company’s stock valued at $80,000 after buying an additional 1,400 shares in the last quarter. Virginia Retirement Systems ET AL raised its position in shares of Tronox by 12.5% during the fourth quarter. Virginia Retirement Systems ET AL now owns 13,500 shares of the company’s stock valued at $197,000 after buying an additional 1,500 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Tronox by 1.3% in the third quarter. Captrust Financial Advisors now owns 128,215 shares of the company’s stock worth $1,014,000 after buying an additional 1,685 shares in the last quarter. Finally, Congress Asset Management Co. MA lifted its holdings in shares of Tronox by 1.1% in the fourth quarter. Congress Asset Management Co. MA now owns 165,770 shares of the company’s stock worth $2,424,000 after buying an additional 1,795 shares in the last quarter. Institutional investors and hedge funds own 54.25% of the company’s stock.

TROX has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on Tronox from $16.00 to $22.00 and gave the company an “equal weight” rating in a research note on Monday, March 1st. Zacks Investment Research cut shares of Tronox from a “buy” rating to a “hold” rating in a report on Friday, February 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $13.20.

Shares of NYSE:TROX opened at $20.06 on Thursday. The stock has a 50 day moving average of $18.59 and a 200 day moving average of $14.26. The company has a market cap of $3.03 billion, a PE ratio of 3.15 and a beta of 2.65. Tronox has a 12-month low of $4.71 and a 12-month high of $21.36. The company has a current ratio of 3.38, a quick ratio of 1.85 and a debt-to-equity ratio of 2.03.

Tronox (NYSE:TROX) last posted its quarterly earnings results on Thursday, February 18th. The company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.01). The firm had revenue of $783.00 million during the quarter, compared to the consensus estimate of $783.29 million. Tronox had a return on equity of 7.18% and a net margin of 34.63%. Equities research analysts predict that Tronox will post 0.53 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 19th. Shareholders of record on Monday, March 8th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Friday, March 5th. This is a positive change from Tronox’s previous quarterly dividend of $0.07. Tronox’s dividend payout ratio is presently 68.09%.

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 beneficiation and smelting operations. Its products include TiO2, zircon, and pig iron, as well as feedstock and other products comprising rutile prime, ilmenite, chloride slag, and other mining products.

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