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

Geode Capital Management LLC lifted its stake in shares of Tronox Holdings plc (NYSE:TROX) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,713,606 shares of the company’s stock after acquiring an additional 22,165 shares during the period. Geode Capital Management LLC’s holdings in Tronox were worth $39,708,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in Tronox during the 3rd quarter worth about $66,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Tronox during the second quarter worth about $76,000. Headlands Technologies LLC bought a new position in shares of Tronox during the second quarter worth about $83,000. nVerses Capital LLC acquired a new stake in Tronox in the 2nd quarter valued at approximately $121,000. Finally, Entropy Technologies LP bought a new stake in Tronox in the 3rd quarter valued at approximately $190,000. 73.36% of the stock is currently owned by institutional investors and hedge funds.

Tronox Stock Performance

Shares of TROX stock opened at $10.37 on Wednesday. The stock has a market cap of $1.64 billion, a P/E ratio of -21.60 and a beta of 1.59. The company has a fifty day moving average price of $11.89 and a two-hundred day moving average price of $13.84. Tronox Holdings plc has a one year low of $9.99 and a one year high of $20.70. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 0.90.

Tronox (NYSE:TROX) last posted its quarterly 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). The business 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 company’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.08) EPS. As a group, equities analysts predict that Tronox Holdings plc will post -0.04 EPS for the current year.

Tronox Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 11th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date was Friday, November 8th. Tronox’s dividend payout ratio (DPR) is presently -104.17%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. BMO Capital Markets decreased 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. UBS Group upgraded shares of Tronox from a “neutral” rating to a “buy” rating and lifted their price target for the company from $17.00 to $19.00 in a research note on Thursday, October 10th. Barclays reduced their price objective on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, The Goldman Sachs Group lowered their target price on 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 company’s stock. Based on data from MarketBeat.com, Tronox presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

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.