Point72 Asia Singapore Pte. Ltd. Purchases New Holdings in Tronox Holdings plc (NYSE:TROX)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Tronox Holdings plc (NYSE:TROX) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 4,865 shares of the company’s stock, valued at approximately $76,000.

A number of other hedge funds have also made changes to their positions in TROX. Capital International Investors boosted its position in Tronox by 2.7% during the first quarter. Capital International Investors now owns 4,757,130 shares of the company’s stock worth $82,536,000 after acquiring an additional 126,926 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. boosted its holdings in shares of Tronox by 2.9% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,426,486 shares of the company’s stock worth $38,072,000 after purchasing an additional 68,155 shares during the last quarter. Primecap Management Co. CA grew its position in shares of Tronox by 0.8% in the second quarter. Primecap Management Co. CA now owns 1,311,700 shares of the company’s stock valued at $20,581,000 after purchasing an additional 10,000 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Tronox by 3.7% in the first quarter. Bridgeway Capital Management LLC now owns 1,280,255 shares of the company’s stock valued at $22,212,000 after purchasing an additional 45,992 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Tronox by 14.3% during the first quarter. Van ECK Associates Corp now owns 1,119,037 shares of the company’s stock worth $19,415,000 after buying an additional 139,956 shares in the last quarter. Institutional investors and hedge funds own 73.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TROX. The Goldman Sachs Group dropped their target price on Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, September 19th. StockNews.com upgraded shares of Tronox from a “sell” rating to a “hold” rating in a report on Monday, August 5th. UBS Group dropped their price target on shares of Tronox from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Mizuho started coverage on Tronox in a report on Friday, June 7th. They issued a “neutral” rating and a $22.00 price objective on the stock. Finally, Barclays cut their target price on Tronox from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.17.

Tronox Stock Performance

NYSE:TROX opened at $14.50 on Monday. Tronox Holdings plc has a fifty-two week low of $10.08 and a fifty-two week high of $20.70. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.08 and a current ratio of 2.98. The company has a 50 day moving average price of $13.68 and a 200 day moving average price of $16.30. The stock has a market capitalization of $2.29 billion, a P/E ratio of -6.50, a PEG ratio of 25.62 and a beta of 1.64.

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

Tronox Announces Dividend

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

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.