Point72 Hong Kong Ltd Purchases New Position in Tronox Holdings plc (NYSE:TROX)

Point72 Hong Kong Ltd acquired a new stake in Tronox Holdings plc (NYSE:TROX) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 49,253 shares of the company’s stock, valued at approximately $773,000.

Other institutional investors have also added to or reduced their stakes in the company. Capital International Investors lifted its holdings 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 valued at $82,536,000 after purchasing an additional 126,926 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. raised its position in Tronox by 2.9% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,426,486 shares of the company’s stock worth $38,072,000 after buying an additional 68,155 shares during the last quarter. Primecap Management Co. CA lifted its stake in Tronox by 0.8% during the 2nd quarter. Primecap Management Co. CA now owns 1,311,700 shares of the company’s stock valued at $20,581,000 after acquiring an additional 10,000 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of Tronox by 3.7% during the 1st quarter. Bridgeway Capital Management LLC now owns 1,280,255 shares of the company’s stock valued at $22,212,000 after acquiring an additional 45,992 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Tronox by 14.3% in the first quarter. Van ECK Associates Corp now owns 1,119,037 shares of the company’s stock worth $19,415,000 after acquiring an additional 139,956 shares during the period. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TROX shares. Mizuho started coverage on shares of Tronox in a research report on Friday, June 7th. They set a “neutral” rating and a $22.00 price objective on the stock. UBS Group dropped their price target on Tronox from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. StockNews.com upgraded Tronox from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Barclays lowered their target price on Tronox from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, The Goldman Sachs Group cut their price target on Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Tronox has an average rating of “Hold” and a consensus price target of $18.17.

Tronox Price Performance

NYSE TROX opened at $14.59 on Friday. 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 business’s fifty day moving average is $13.70 and its 200 day moving average is $16.31. Tronox Holdings plc has a fifty-two week low of $10.08 and a fifty-two week high of $20.70.

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

Tronox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, August 26th will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.43%. Tronox’s payout ratio is currently -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.