Stifel Financial Corp Increases Stake in Tronox Holdings plc (NYSE:TROX)

Stifel Financial Corp boosted its position in Tronox Holdings plc (NYSE:TROX) by 41.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 99,373 shares of the company’s stock after acquiring an additional 29,011 shares during the period. Stifel Financial Corp owned 0.06% of Tronox worth $1,454,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC lifted its stake in Tronox by 4.7% in the 3rd quarter. FMR LLC now owns 23,805,227 shares of the company’s stock worth $348,270,000 after purchasing an additional 1,073,674 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Tronox by 0.6% in the third quarter. Thrivent Financial for Lutherans now owns 4,321,485 shares of the company’s stock worth $63,223,000 after buying an additional 23,686 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in Tronox by 109.3% during the second 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 period. Charles Schwab Investment Management Inc. boosted its stake in Tronox by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,212,221 shares of the company’s stock valued at $32,365,000 after buying an additional 112,010 shares during the period. Finally, Victory Capital Management Inc. grew its position in Tronox by 54.6% during the third quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock worth $22,497,000 after buying an additional 543,091 shares in the last quarter. 73.36% of the stock is owned by hedge funds and other institutional investors.

Tronox Stock Performance

TROX stock opened at $10.29 on Friday. The stock’s 50 day simple moving average is $12.04 and its 200 day simple moving average is $14.06. 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 $9.99 and a 12-month high of $20.70. The stock has a market capitalization of $1.63 billion, a PE ratio of -21.44 and a beta of 1.59.

Tronox (NYSE:TROX) last released its quarterly earnings data on Thursday, October 24th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $804.00 million for the quarter, compared to analysts’ expectations of $790.63 million. During the same period in the previous year, the firm earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. As a group, research analysts forecast that Tronox Holdings plc will post -0.04 earnings per share for the current fiscal year.

Tronox Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 11th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend was Friday, November 8th. Tronox’s payout ratio is -104.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TROX shares. BMO Capital Markets dropped their target price on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. The Goldman Sachs Group dropped their price objective on shares of Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, September 19th. UBS Group upgraded shares of Tronox from a “neutral” rating to a “buy” rating and upped their target price for the stock from $17.00 to $19.00 in a research report on Thursday, October 10th. Finally, Barclays lowered their price target on Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.00.

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.