Wolverine Asset Management LLC Sells 13,900 Shares of Tronox Holdings plc (NYSE:TROX)

Wolverine Asset Management LLC reduced its stake in shares of Tronox Holdings plc (NYSE:TROX) by 16.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,872 shares of the company’s stock after selling 13,900 shares during the quarter. Wolverine Asset Management LLC’s holdings in Tronox were worth $1,143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TROX. Dimensional Fund Advisors LP raised its holdings in Tronox by 6.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,248,364 shares of the company’s stock worth $130,960,000 after purchasing an additional 597,663 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Tronox by 16.5% during the 4th quarter. Franklin Resources Inc. now owns 6,185,221 shares of the company’s stock worth $87,583,000 after buying an additional 876,192 shares during the period. Capital International Investors raised its stake in shares of Tronox by 2.7% during the first quarter. Capital International Investors now owns 4,757,130 shares of the company’s stock worth $82,536,000 after buying an additional 126,926 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its holdings in Tronox by 2.9% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,426,486 shares of the company’s stock valued at $38,072,000 after buying an additional 68,155 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Tronox by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,951,090 shares of the company’s stock valued at $27,627,000 after acquiring an additional 127,718 shares during the last quarter. Institutional investors and hedge funds own 73.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TROX. Barclays dropped their target price on shares of Tronox from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. StockNews.com raised Tronox from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Mizuho initiated coverage on Tronox in a research note on Friday, June 7th. They issued a “neutral” rating and a $22.00 target price on the stock. UBS Group decreased their target price on Tronox from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, The Goldman Sachs Group lowered their price target on Tronox from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.67.

Tronox Stock Performance

TROX stock opened at $12.94 on Thursday. Tronox Holdings plc has a 1-year low of $10.08 and a 1-year high of $20.70. The company has a current ratio of 2.98, a quick ratio of 1.08 and a debt-to-equity ratio of 1.44. The firm has a market cap of $2.04 billion, a PE ratio of -5.80, a P/E/G ratio of 26.01 and a beta of 1.64. The business’s 50-day moving average price is $14.87 and its two-hundred day moving average price is $16.59.

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

Tronox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, August 26th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Monday, August 26th. Tronox’s dividend payout ratio is -22.42%.

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.