Algert Global LLC Raises Stock Position in Tronox Holdings plc (NYSE:TROX)

Algert Global LLC boosted its position in Tronox Holdings plc (NYSE:TROX) by 127.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,051 shares of the company’s stock after purchasing an additional 173,054 shares during the quarter. Algert Global LLC owned about 0.20% of Tronox worth $4,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of TROX. Driehaus Capital Management LLC increased its stake in Tronox by 109.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,646,916 shares of the company’s stock worth $41,530,000 after acquiring an additional 1,381,975 shares during the last quarter. Capital World Investors purchased a new stake in Tronox in the first quarter valued at approximately $19,152,000. Boston Partners lifted its position in Tronox by 160.2% during the first quarter. Boston Partners now owns 1,018,025 shares of the company’s stock valued at $17,664,000 after purchasing an additional 626,744 shares during the last quarter. Norges Bank purchased a new position in Tronox in the 4th quarter worth approximately $7,760,000. Finally, Capital International Investors increased its holdings in shares of Tronox by 10.7% in the 4th quarter. Capital International Investors now owns 4,630,204 shares of the company’s stock worth $65,564,000 after buying an additional 449,095 shares during the last quarter. 73.36% of the stock is owned by institutional investors.

Tronox Stock Performance

Tronox stock opened at $14.50 on Monday. Tronox Holdings plc has a 1-year low of $10.08 and a 1-year high of $20.70. The firm has a market cap of $2.29 billion, a P/E ratio of -6.50, a P/E/G ratio of 25.62 and a beta of 1.64. The company has a current ratio of 2.98, a quick ratio of 1.08 and a debt-to-equity ratio of 1.44. The firm has a 50-day moving average of $13.68 and a 200-day moving average of $16.30.

Tronox (NYSE:TROX) last posted its earnings results on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.11). Tronox had a negative net margin of 2.14% and a negative return on equity of 3.40%. The business had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $848.04 million. During the same period last year, the firm posted $0.16 earnings per share. Tronox’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts expect that Tronox Holdings plc will post 0.44 EPS for the current year.

Tronox Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, August 26th were given a $0.125 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $0.50 annualized dividend and a dividend yield of 3.45%. Tronox’s dividend payout ratio is -22.42%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TROX. Mizuho initiated coverage on Tronox in a report on Friday, June 7th. They set a “neutral” rating and a $22.00 price objective on the stock. Barclays lowered their price objective on shares of Tronox from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. StockNews.com raised shares of Tronox from a “sell” rating to a “hold” rating in a report on Monday, August 5th. UBS Group lowered their price target on shares of Tronox from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, The Goldman Sachs Group reduced their price objective on Tronox from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $18.17.

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.