Driehaus Capital Management LLC Raises Holdings in Tronox Holdings plc (NYSE:TROX)

Driehaus Capital Management LLC increased its stake in shares of Tronox Holdings plc (NYSE:TROX) by 109.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,646,916 shares of the company’s stock after purchasing an additional 1,381,975 shares during the period. Driehaus Capital Management LLC owned 1.68% of Tronox worth $41,530,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TROX. Capital World Investors purchased a new stake in Tronox during the 1st quarter worth about $19,152,000. Boston Partners lifted its holdings in Tronox by 160.2% during the 1st quarter. Boston Partners now owns 1,018,025 shares of the company’s stock worth $17,664,000 after purchasing an additional 626,744 shares in the last quarter. Norges Bank purchased a new stake in Tronox during the 4th quarter worth about $7,760,000. Capital International Investors lifted its holdings in Tronox by 10.7% during the 4th quarter. Capital International Investors now owns 4,630,204 shares of the company’s stock worth $65,564,000 after purchasing an additional 449,095 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Tronox during the 2nd quarter worth about $4,489,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TROX shares. The Goldman Sachs Group dropped their price objective on Tronox from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Mizuho started coverage on Tronox in a report on Friday, June 7th. They issued a “neutral” rating and a $22.00 price target on the stock. Barclays lowered their price target on Tronox from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday. UBS Group lowered their price target on Tronox from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Finally, StockNews.com raised Tronox from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Tronox has an average rating of “Hold” and an average target price of $18.17.

Tronox Price Performance

TROX opened at $14.49 on Friday. The stock’s 50 day simple moving average is $13.68 and its 200 day simple moving average is $16.30. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.98 and a quick ratio of 1.08. Tronox Holdings plc has a 1 year low of $10.08 and a 1 year high of $20.70. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -6.50, a PEG ratio of 25.62 and a beta of 1.64.

Tronox (NYSE:TROX) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.11). Tronox had a negative return on equity of 3.40% and a negative net margin of 2.14%. The company had revenue of $820.00 million for the quarter, compared to the consensus estimate of $848.04 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. Tronox’s revenue was up 3.3% compared to the same quarter last year. As a group, analysts predict that Tronox Holdings plc will post 0.44 earnings per share for the current year.

Tronox Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, August 26th were given a dividend of $0.125 per share. The ex-dividend date was Monday, August 26th. This represents a $0.50 annualized dividend and a yield of 3.45%. Tronox’s payout ratio is -22.42%.

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.