Victory Capital Management Inc. Raises Position in Tronox Holdings plc (NYSE:TROX)

Victory Capital Management Inc. grew its position in Tronox Holdings plc (NYSE:TROX) by 54.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,537,723 shares of the company’s stock after buying an additional 543,091 shares during the period. Victory Capital Management Inc. owned approximately 0.97% of Tronox worth $22,497,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TROX. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tronox in the second quarter worth approximately $76,000. Headlands Technologies LLC bought a new stake in shares of Tronox in the second quarter worth approximately $83,000. nVerses Capital LLC bought a new stake in shares of Tronox in the second quarter worth approximately $121,000. SG Americas Securities LLC bought a new stake in shares of Tronox in the first quarter worth approximately $124,000. Finally, Entropy Technologies LP bought a new stake in shares of Tronox in the third quarter worth approximately $190,000. 73.36% of the stock is owned by hedge funds and other institutional investors.

Tronox Stock Performance

TROX opened at $11.08 on Tuesday. The firm has a market cap of $1.75 billion, a P/E ratio of -23.08 and a beta of 1.66. Tronox Holdings plc has a 1-year low of $10.69 and a 1-year high of $20.70. The company has a 50 day simple moving average of $12.95 and a two-hundred day simple moving average of $15.30. 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) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). The firm had revenue of $804.00 million during 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 business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) earnings per share. Equities analysts forecast that Tronox Holdings plc will post -0.04 earnings per share for the current fiscal year.

Tronox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 11th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Friday, November 8th. Tronox’s dividend payout ratio (DPR) is presently -104.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. StockNews.com upgraded shares of Tronox from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. The Goldman Sachs Group cut their target price on shares of Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. BMO Capital Markets cut their target price on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Barclays cut their target price on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, UBS Group upgraded shares of Tronox from a “neutral” rating to a “buy” rating and boosted their target price for the company from $17.00 to $19.00 in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tronox currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

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.