Van ECK Associates Corp Acquires 139,795 Shares of Tronox Holdings plc (NYSE:TROX)

Van ECK Associates Corp boosted its stake in Tronox Holdings plc (NYSE:TROX) by 15.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,065,710 shares of the company’s stock after acquiring an additional 139,795 shares during the period. Van ECK Associates Corp owned 0.67% of Tronox worth $14,302,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TROX. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Tronox in the 2nd quarter worth approximately $76,000. Headlands Technologies LLC purchased a new position in Tronox during the second quarter valued at $83,000. nVerses Capital LLC bought a new stake in shares of Tronox during the 2nd quarter valued at $121,000. SG Americas Securities LLC purchased a new stake in shares of Tronox in the 1st quarter worth about $124,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Tronox by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,232 shares of the company’s stock worth $178,000 after acquiring an additional 861 shares in the last quarter. 73.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TROX shares. 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. StockNews.com raised Tronox from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Barclays lowered their price objective on Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. UBS Group raised Tronox from a “neutral” rating to a “buy” rating and increased their target price for the stock from $17.00 to $19.00 in a research note on Thursday, October 10th. Finally, BMO Capital Markets lowered their price target on Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Tronox Stock Up 0.7 %

Tronox stock opened at $12.14 on Wednesday. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -25.29 and a beta of 1.66. The company has a current ratio of 2.72, a quick ratio of 0.90 and a debt-to-equity ratio of 1.42. Tronox Holdings plc has a 12 month low of $10.76 and a 12 month high of $20.70. The stock has a fifty day simple moving average of $13.26 and a two-hundred day simple moving average of $15.68.

Tronox (NYSE:TROX) last issued its 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). The business had revenue of $804.00 million during the quarter, compared to analysts’ expectations of $790.63 million. Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. Tronox’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) EPS. Equities analysts predict that Tronox Holdings plc will post -0.04 EPS for the current fiscal year.

Tronox Announces Dividend

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 $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.12%. The ex-dividend date is Friday, November 8th. Tronox’s dividend 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.