Bank of Montreal Can Acquires Shares of 53,280 Tronox Holdings plc (NYSE:TROX)

Bank of Montreal Can acquired a new stake in shares of Tronox Holdings plc (NYSE:TROX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 53,280 shares of the company’s stock, valued at approximately $687,000.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Tronox by 11.7% in the first quarter. FMR LLC now owns 23,174,538 shares of the company’s stock valued at $333,250,000 after acquiring an additional 2,423,087 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Tronox by 49.4% in the first quarter. Franklin Resources Inc. now owns 6,064,166 shares of the company’s stock valued at $87,203,000 after acquiring an additional 2,006,159 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Tronox by 1,320.6% in the second quarter. Victory Capital Management Inc. now owns 1,471,359 shares of the company’s stock valued at $18,701,000 after acquiring an additional 1,367,788 shares during the last quarter. Norges Bank bought a new position in shares of Tronox in the fourth quarter valued at approximately $16,635,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Tronox by 85.5% in the first quarter. Bank of New York Mellon Corp now owns 2,099,727 shares of the company’s stock valued at $30,194,000 after acquiring an additional 967,910 shares during the last quarter. 70.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tronox

In other news, Director Vanessa Ann Guthrie sold 2,395 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $13.66, for a total value of $32,715.70. Following the completion of the transaction, the director now owns 41,324 shares of the company’s stock, valued at approximately $564,485.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TROX. Credit Suisse Group upgraded shares of Tronox from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $12.00 to $13.00 in a research note on Tuesday, August 8th. UBS Group cut shares of Tronox from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $17.00 to $15.00 in a research report on Thursday, September 7th. Barclays dropped their price objective on shares of Tronox from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Monday, October 30th. BMO Capital Markets dropped their price objective on shares of Tronox from $15.00 to $13.00 and set a “market perform” rating for the company in a research report on Friday, July 28th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $11.00 price objective (down previously from $16.00) on shares of Tronox in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Tronox has a consensus rating of “Hold” and an average target price of $14.63.

Tronox Stock Performance

Shares of Tronox stock opened at $12.62 on Wednesday. The firm has a fifty day moving average of $12.06 and a two-hundred day moving average of $12.51. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -7.21, a PEG ratio of 40.84 and a beta of 1.98. Tronox Holdings plc has a 52 week low of $10.08 and a 52 week high of $17.61. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.10 and a current ratio of 3.32.

Tronox (NYSE:TROX) last issued its earnings results on Wednesday, October 25th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.13). The business had revenue of $662.00 million for the quarter, compared to the consensus estimate of $712.30 million. Tronox had a negative net margin of 9.78% and a positive return on equity of 0.40%. As a group, equities research analysts predict that Tronox Holdings plc will post 0.22 EPS for the current year.

Tronox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, November 13th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Friday, November 10th. Tronox’s payout ratio is -28.57%.

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.