Driehaus Capital Management LLC Acquires 1,381,975 Shares of Tronox Holdings plc (NYSE:TROX)

Driehaus Capital Management LLC raised its holdings in Tronox Holdings plc (NYSE:TROX) by 109.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,646,916 shares of the company’s stock after buying an additional 1,381,975 shares during the quarter. Driehaus Capital Management LLC’s holdings in Tronox were worth $41,530,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TROX. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tronox in the 2nd quarter worth approximately $76,000. Headlands Technologies LLC purchased a new position in shares of Tronox in the 2nd quarter valued at approximately $83,000. TFO Wealth Partners LLC lifted its stake in shares of Tronox by 260,833.3% in the 4th quarter. TFO Wealth Partners LLC now owns 7,828 shares of the company’s stock valued at $111,000 after purchasing an additional 7,825 shares during the period. nVerses Capital LLC purchased a new position in shares of Tronox in the 2nd quarter valued at approximately $121,000. Finally, SG Americas Securities LLC purchased a new position in shares of Tronox in the 1st quarter valued at approximately $124,000. 73.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Tronox Stock Down 0.7 %

Tronox stock opened at $14.49 on Friday. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -6.50, a PEG ratio of 25.62 and a beta of 1.64. The stock has a fifty day simple moving average of $13.68 and a two-hundred day simple moving average of $16.30. Tronox Holdings plc has a 12 month low of $10.08 and a 12 month 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.

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

Tronox Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, August 26th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Monday, August 26th. Tronox’s payout ratio is -22.42%.

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.