Bank of Montreal Can Acquires 93,893 Shares of Tronox Holdings plc (NYSE:TROX)

Bank of Montreal Can lifted its holdings in Tronox Holdings plc (NYSE:TROX) by 140.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,929 shares of the company’s stock after acquiring an additional 93,893 shares during the period. Bank of Montreal Can owned 0.10% of Tronox worth $2,333,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TROX. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Tronox in the 2nd quarter worth $76,000. Headlands Technologies LLC bought a new stake in shares of Tronox in the second quarter worth about $83,000. nVerses Capital LLC purchased a new stake in shares of Tronox in the second quarter worth about $121,000. Entropy Technologies LP bought a new position in Tronox during the third quarter valued at approximately $190,000. Finally, MQS Management LLC purchased a new position in Tronox during the 2nd quarter valued at approximately $195,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Tronox Price Performance

TROX stock opened at $11.67 on Friday. The company has a current ratio of 2.72, a quick ratio of 0.90 and a debt-to-equity ratio of 1.42. Tronox Holdings plc has a 12 month low of $10.69 and a 12 month high of $20.70. The stock has a market cap of $1.84 billion, a PE ratio of -24.31 and a beta of 1.59. The company has a 50-day moving average price of $12.80 and a 200 day moving average price of $14.71.

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

Tronox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.50 dividend on an annualized basis and a yield of 4.28%. Tronox’s payout ratio is -104.16%.

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.