Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Tronox Holdings plc (NYSE:TROX)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Tronox Holdings plc (NYSE:TROX) by 9.9% during the third quarter, Holdings Channel.com reports. The firm owned 27,548 shares of the company’s stock after buying an additional 2,488 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tronox were worth $399,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Tronox by 4.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 25,065 shares of the company’s stock valued at $393,000 after buying an additional 1,014 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Tronox by 5.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,701 shares of the company’s stock worth $717,000 after acquiring an additional 2,180 shares during the period. nVerses Capital LLC raised its holdings in Tronox by 35.1% in the 3rd quarter. nVerses Capital LLC now owns 10,400 shares of the company’s stock valued at $152,000 after acquiring an additional 2,700 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Tronox by 4.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 89,212 shares of the company’s stock worth $1,548,000 after purchasing an additional 4,204 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Tronox during the second quarter worth $76,000. 73.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Tronox Trading Down 0.4 %

Shares of TROX stock opened at $11.62 on Friday. The firm’s 50 day moving average price is $12.74 and its two-hundred day moving average price is $14.62. Tronox Holdings plc has a fifty-two week low of $10.69 and a fifty-two week high of $20.70. The company has a quick ratio of 0.90, a current ratio of 2.72 and a debt-to-equity ratio of 1.42. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -24.21 and a beta of 1.59.

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

Tronox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 11th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.50 annualized dividend and a dividend yield of 4.30%. Tronox’s payout ratio is currently -104.16%.

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.