Public Employees Retirement System of Ohio Takes $66,000 Position in Tronox Holdings plc (NYSE:TROX)

Public Employees Retirement System of Ohio bought a new stake in Tronox Holdings plc (NYSE:TROX) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 4,530 shares of the company’s stock, valued at approximately $66,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Tronox during the 2nd quarter worth approximately $76,000. Headlands Technologies LLC acquired a new stake in shares of Tronox in the second quarter worth $83,000. nVerses Capital LLC purchased a new position in shares of Tronox during the second quarter worth $121,000. MQS Management LLC acquired a new position in Tronox during the second quarter valued at $195,000. Finally, Entropy Technologies LP purchased a new stake in Tronox in the third quarter valued at $190,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TROX shares. UBS Group upgraded Tronox from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $17.00 to $19.00 in a research note on Thursday, October 10th. BMO Capital Markets reduced 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. Barclays lowered their price objective on Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Finally, 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 report on Thursday, September 19th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Tronox Stock Performance

Shares of TROX stock opened at $10.29 on Monday. 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 $9.99 and a 12-month high of $20.70. The business’s 50 day moving average is $12.04 and its two-hundred day moving average is $14.02. The company has a market capitalization of $1.63 billion, a P/E ratio of -21.44 and a beta of 1.59.

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 the consensus estimate of $0.17 by ($0.30). Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. The business had revenue of $804.00 million during the quarter, compared to analysts’ expectations of $790.63 million. During the same period in the prior year, the business posted ($0.08) earnings per share. The business’s quarterly revenue was up 21.5% on a year-over-year basis. Analysts expect that Tronox Holdings plc will post -0.04 EPS for the current fiscal year.

Tronox Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 11th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend was Friday, November 8th. Tronox’s dividend payout ratio is presently -104.17%.

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.