Geode Capital Management LLC Acquires 22,165 Shares of Tronox Holdings plc (NYSE:TROX)

Geode Capital Management LLC grew its holdings in Tronox Holdings plc (NYSE:TROX) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,713,606 shares of the company’s stock after purchasing an additional 22,165 shares during the quarter. Geode Capital Management LLC owned about 1.72% of Tronox worth $39,708,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. lifted its position in Tronox by 34.6% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company’s stock worth $96,000 after buying an additional 1,683 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Tronox by 5.0% during the second quarter. The Manufacturers Life Insurance Company now owns 45,701 shares of the company’s stock valued at $717,000 after purchasing an additional 2,180 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Tronox by 9.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,548 shares of the company’s stock valued at $399,000 after purchasing an additional 2,488 shares in the last quarter. nVerses Capital LLC raised its position in Tronox by 35.1% in the 3rd quarter. nVerses Capital LLC now owns 10,400 shares of the company’s stock worth $152,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Tronox during the 3rd quarter worth $66,000. Institutional investors own 73.36% of the company’s stock.

Analyst Ratings Changes

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

Tronox Price Performance

Tronox stock opened at $10.37 on Wednesday. The company has a current ratio of 2.72, a quick ratio of 0.90 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $1.64 billion, a P/E ratio of -21.60 and a beta of 1.59. The business has a 50-day moving average of $11.89 and a 200-day moving average of $13.84. Tronox Holdings plc has a 1 year low of $9.99 and a 1 year high of $20.70.

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). The firm had revenue of $804.00 million for the quarter, compared to the consensus estimate of $790.63 million. Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) EPS. On average, equities analysts anticipate that Tronox Holdings plc will post -0.04 EPS for the current year.

Tronox Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 11th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.50 annualized dividend and a yield of 4.82%. Tronox’s dividend payout ratio is presently -104.17%.

Tronox 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.