Martingale Asset Management L P Buys New Position in Tronox Holdings plc (NYSE:TROX)

Martingale Asset Management L P bought a new stake in shares of Tronox Holdings plc (NYSE:TROXGet Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 62,780 shares of the company’s stock, valued at approximately $1,055,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D raised its holdings in shares of Tronox by 6.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 128,563 shares of the company’s stock worth $2,160,000 after buying an additional 7,710 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Tronox by 15.9% in the 1st quarter. American Century Companies Inc. now owns 910,466 shares of the company’s stock worth $18,018,000 after buying an additional 124,819 shares in the last quarter. Bourgeon Capital Management LLC raised its holdings in shares of Tronox by 297.0% in the 2nd quarter. Bourgeon Capital Management LLC now owns 32,750 shares of the company’s stock worth $550,000 after buying an additional 24,500 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Tronox by 33.4% in the 2nd quarter. Royce & Associates LP now owns 504,624 shares of the company’s stock worth $8,478,000 after buying an additional 126,404 shares in the last quarter. Finally, Seven Eight Capital LP raised its holdings in shares of Tronox by 184.2% in the 1st quarter. Seven Eight Capital LP now owns 115,380 shares of the company’s stock worth $2,283,000 after buying an additional 74,779 shares in the last quarter. Institutional investors own 66.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. BMO Capital Markets dropped their target price on Tronox from $16.00 to $15.00 and set a “market perform” rating for the company in a report on Tuesday, September 27th. Barclays dropped their price target on Tronox from $21.00 to $16.00 and set an “overweight” rating for the company in a report on Tuesday, September 27th. StockNews.com initiated coverage on Tronox in a report on Wednesday, October 12th. They set a “hold” rating for the company. The Goldman Sachs Group started coverage on Tronox in a report on Thursday, October 13th. They set a “buy” rating and a $16.00 price target for the company. Finally, Morgan Stanley reduced their price target on Tronox from $26.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Tronox presently has an average rating of “Hold” and a consensus target price of $18.13.

Tronox Stock Performance

TROX opened at $14.00 on Monday. The business’s 50-day moving average price is $12.75 and its two-hundred day moving average price is $15.15. Tronox Holdings plc has a 1 year low of $11.09 and a 1 year high of $25.95. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 3.72, a P/E/G ratio of 3.74 and a beta of 1.79. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.35 and a quick ratio of 1.00.

Tronox (NYSE:TROXGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.09). Tronox had a net margin of 16.13% and a return on equity of 19.19%. The firm had revenue of $895.00 million during the quarter, compared to analyst estimates of $953.30 million. Equities analysts expect that Tronox Holdings plc will post 2.37 EPS for the current fiscal year.

Tronox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Monday, November 14th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Thursday, November 10th. Tronox’s dividend payout ratio is 13.30%.

Insider Activity at Tronox

In related news, SVP Jeffrey N. Neuman bought 4,000 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were acquired at an average price of $11.89 per share, with a total value of $47,560.00. Following the completion of the transaction, the senior vice president now owns 193,312 shares in the company, valued at $2,298,479.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Timothy C. Carlson bought 5,000 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were acquired at an average price of $11.88 per share, with a total value of $59,400.00. Following the completion of the transaction, the chief financial officer now owns 334,326 shares in the company, valued at $3,971,792.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jeffrey N. Neuman bought 4,000 shares of the stock in a transaction that occurred on Friday, October 28th. The stock was bought at an average cost of $11.89 per share, for a total transaction of $47,560.00. Following the transaction, the senior vice president now owns 193,312 shares of the company’s stock, valued at approximately $2,298,479.68. The disclosure for this purchase can be found here. 1.60% of the stock is owned by company insiders.

Tronox Company Profile

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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; titanium tetrachloride; and other products.

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Institutional Ownership by Quarter for Tronox (NYSE:TROX)

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