Intech Investment Management LLC Buys New Stake in Tronox Holdings plc (NYSE:TROX)

Intech Investment Management LLC purchased a new position in shares of Tronox Holdings plc (NYSE:TROX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 31,386 shares of the company’s stock, valued at approximately $459,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in Tronox by 4.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 89,212 shares of the company’s stock worth $1,548,000 after buying an additional 4,204 shares during the period. BDF Gestion acquired a new position in Tronox in the 2nd quarter worth approximately $1,273,000. Wealth Enhancement Advisory Services LLC grew its position in Tronox by 4.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 25,065 shares of the company’s stock worth $393,000 after purchasing an additional 1,014 shares in the last quarter. Raymond James & Associates acquired a new stake in Tronox during the 2nd quarter valued at $1,360,000. Finally, Van Lanschot Kempen Investment Management N.V. lifted its holdings in shares of Tronox by 2.9% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,426,486 shares of the company’s stock valued at $38,072,000 after purchasing an additional 68,155 shares in the last quarter. Institutional investors and hedge funds own 73.36% of the company’s stock.

Analyst Ratings Changes

TROX has been the topic of several recent research reports. BMO Capital Markets cut their price objective on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Barclays decreased their price objective on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, October 28th. The Goldman Sachs Group cut their target price on Tronox from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. UBS Group upgraded Tronox from a “neutral” rating to a “buy” rating and upped their price target for the stock from $17.00 to $19.00 in a research note on Thursday, October 10th. Finally, StockNews.com raised Tronox from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Tronox Price Performance

NYSE:TROX opened at $12.07 on Tuesday. The firm’s fifty day moving average price is $12.93 and its two-hundred day moving average price is $14.85. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 0.90. The company has a market cap of $1.91 billion, a P/E ratio of -25.21 and a beta of 1.66. Tronox Holdings plc has a one year low of $10.69 and a one year high of $20.70.

Tronox (NYSE:TROX) last posted its quarterly earnings data on Thursday, October 24th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). The business had revenue of $804.00 million during the quarter, compared to the consensus estimate of $790.63 million. Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) EPS. Equities analysts expect that Tronox Holdings plc will post -0.04 earnings per share for the current year.

Tronox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 11th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date is Friday, November 8th. Tronox’s dividend payout ratio is -104.17%.

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.