State of New Jersey Common Pension Fund D Makes New Investment in Tronox Holdings plc (NYSE:TROX)

State of New Jersey Common Pension Fund D acquired a new stake in Tronox Holdings plc (NYSE:TROX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 94,313 shares of the company’s stock, valued at approximately $1,480,000. State of New Jersey Common Pension Fund D owned about 0.06% of Tronox at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TROX. Capital World Investors purchased a new stake in Tronox in the first quarter valued at $19,152,000. Boston Partners boosted its stake in shares of Tronox by 160.2% in the first quarter. Boston Partners now owns 1,018,025 shares of the company’s stock worth $17,664,000 after buying an additional 626,744 shares during the last quarter. Norges Bank acquired a new stake in Tronox during the fourth quarter worth about $7,760,000. Capital International Investors raised its position in Tronox by 10.7% during the fourth quarter. Capital International Investors now owns 4,630,204 shares of the company’s stock valued at $65,564,000 after acquiring an additional 449,095 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in Tronox by 29.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,234,263 shares of the company’s stock valued at $17,477,000 after acquiring an additional 281,110 shares during the period. Institutional investors and hedge funds own 73.36% of the company’s stock.

Wall Street Analysts Forecast Growth

TROX has been the subject of several recent research reports. UBS Group cut their target price on shares of Tronox from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Barclays decreased their price objective on shares of Tronox from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday. The Goldman Sachs Group dropped 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. StockNews.com upgraded Tronox from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Mizuho began coverage on Tronox in a report on Friday, June 7th. They issued a “neutral” rating and a $22.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Tronox presently has a consensus rating of “Hold” and an average target price of $18.17.

Tronox Trading Down 3.6 %

TROX stock opened at $13.22 on Thursday. The business’s 50-day moving average is $13.73 and its 200 day moving average is $16.32. Tronox Holdings plc has a 12-month low of $10.08 and a 12-month high of $20.70. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -5.93, a PEG ratio of 24.10 and a beta of 1.64. The company has a current ratio of 2.98, a quick ratio of 1.08 and a debt-to-equity ratio of 1.44.

Tronox (NYSE:TROX) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.11). Tronox had a negative return on equity of 3.40% and a negative net margin of 2.14%. The firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $848.04 million. During the same period in the prior year, the firm earned $0.16 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that Tronox Holdings plc will post 0.44 EPS for the current fiscal year.

Tronox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, August 26th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Monday, August 26th. Tronox’s dividend payout ratio is currently -22.42%.

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.