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

The Manufacturers Life Insurance Company increased its position in shares of Tronox Holdings plc (NYSE:TROX) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,701 shares of the company’s stock after acquiring an additional 2,180 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Tronox were worth $717,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of TROX. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Tronox in the second quarter valued at about $76,000. Point72 Hong Kong Ltd acquired a new stake in Tronox during the second quarter worth approximately $773,000. Cubist Systematic Strategies LLC acquired a new position in shares of Tronox in the 2nd quarter valued at $4,489,000. Point72 DIFC Ltd purchased a new position in Tronox in the 2nd quarter valued at $455,000. Finally, MQS Management LLC purchased a new position in Tronox in the 2nd quarter valued at $195,000. Institutional investors and hedge funds own 73.36% of the company’s stock.

Tronox Stock Performance

Tronox stock opened at $14.37 on Tuesday. The stock has a market cap of $2.27 billion, a P/E ratio of -6.44, a price-to-earnings-growth ratio of 27.64 and a beta of 1.64. The firm’s fifty day moving average price is $13.41 and its 200-day moving average price is $16.09. 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.

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). The company had revenue of $820.00 million for the quarter, compared to the consensus estimate 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 last year, the company earned $0.16 EPS. On average, equities research analysts expect that Tronox Holdings plc will post 0.42 earnings per share for the current fiscal year.

Tronox Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, August 26th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Monday, August 26th. Tronox’s dividend payout ratio (DPR) is presently -22.42%.

Analysts Set New Price Targets

TROX has been the subject of several analyst reports. UBS Group raised shares of Tronox from a “neutral” rating to a “buy” rating and boosted their target price for the company from $17.00 to $19.00 in a research note on Thursday, October 10th. StockNews.com upgraded Tronox from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Barclays dropped their price objective on Tronox from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. The Goldman Sachs Group lowered their price target on Tronox from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Finally, BMO Capital Markets reduced their price target on Tronox from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $17.83.

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.