Point72 Asia Singapore Pte. Ltd. Buys Shares of 4,865 Tronox Holdings plc (NYSE:TROX)

Point72 Asia Singapore Pte. Ltd. bought a new position in Tronox Holdings plc (NYSE:TROX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,865 shares of the company’s stock, valued at approximately $76,000.

Several other hedge funds have also recently modified their holdings of the business. Algert Global LLC increased its holdings in Tronox by 127.2% in the 2nd quarter. Algert Global LLC now owns 309,051 shares of the company’s stock worth $4,849,000 after buying an additional 173,054 shares in the last quarter. Driehaus Capital Management LLC raised its stake in Tronox by 109.3% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,646,916 shares of the company’s stock valued at $41,530,000 after buying an additional 1,381,975 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Tronox in the second quarter worth approximately $325,000. Lighthouse Investment Partners LLC bought a new stake in Tronox during the second quarter valued at about $574,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Tronox by 5.0% in the second quarter. The Manufacturers Life Insurance Company now owns 45,701 shares of the company’s stock worth $717,000 after buying an additional 2,180 shares in the last quarter. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Tronox Price Performance

Tronox stock opened at $14.20 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.98 and a quick ratio of 1.08. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -6.37, a price-to-earnings-growth ratio of 27.09 and a beta of 1.64. The firm has a 50-day moving average of $13.52 and a two-hundred day moving average of $16.23. Tronox Holdings plc has a 1 year low of $10.08 and a 1 year high of $20.70.

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

Tronox Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, August 26th were paid a dividend of $0.125 per share. The ex-dividend date was Monday, August 26th. This represents a $0.50 annualized dividend and a dividend yield of 3.52%. Tronox’s dividend payout ratio is currently -22.42%.

Analyst Upgrades and Downgrades

Several brokerages have commented on TROX. The Goldman Sachs Group decreased their price target on shares of Tronox from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. UBS Group reduced their price objective on Tronox from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. BMO Capital Markets reduced their price target on shares of Tronox from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Barclays reduced their target price on shares of Tronox from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Finally, Mizuho initiated coverage on Tronox in a research report on Friday, June 7th. They set a “neutral” rating and a $22.00 target price for the company. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.67.

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.