The Manufacturers Life Insurance Company Lowers Stock Position in Tronox Holdings plc (NYSE:TROX)

The Manufacturers Life Insurance Company lessened its stake in shares of Tronox Holdings plc (NYSE:TROX) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,669 shares of the company’s stock after selling 1,032 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Tronox were worth $654,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Driehaus Capital Management LLC boosted its stake in shares of Tronox by 109.3% in the second quarter. Driehaus Capital Management LLC now owns 2,646,916 shares of the company’s stock valued at $41,530,000 after purchasing an additional 1,381,975 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Tronox by 54.6% in the third quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock valued at $22,497,000 after purchasing an additional 543,091 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Tronox in the second quarter valued at approximately $4,489,000. Algert Global LLC boosted its stake in shares of Tronox by 77.0% in the third quarter. Algert Global LLC now owns 546,967 shares of the company’s stock valued at $8,002,000 after purchasing an additional 237,916 shares during the period. Finally, Hantz Financial Services Inc. purchased a new position in shares of Tronox in the second quarter valued at approximately $2,717,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Tronox Stock Down 0.6 %

Shares of NYSE:TROX opened at $10.62 on Friday. The firm’s 50 day moving average price is $12.43 and its 200 day moving average price is $14.39. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -22.13 and a beta of 1.59. Tronox Holdings plc has a fifty-two week low of $10.39 and a fifty-two week high of $20.70. The company has a quick ratio of 0.90, a current ratio of 2.72 and a debt-to-equity ratio of 1.42.

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

Tronox Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 11th were issued a dividend of $0.125 per share. The ex-dividend date was Friday, November 8th. This represents a $0.50 dividend on an annualized basis and a yield of 4.71%. Tronox’s payout ratio is currently -104.17%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TROX shares. The Goldman Sachs Group lowered their price objective on shares of Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. BMO Capital Markets lowered their price objective on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. UBS Group raised shares of Tronox from a “neutral” rating to a “buy” rating and raised their target price for the company from $17.00 to $19.00 in a report on Thursday, October 10th. Finally, Barclays reduced their target price on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Tronox 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.