GAMMA Investing LLC Buys 10,295 Shares of Tronox Holdings PLC (NYSE:TROX)

GAMMA Investing LLC raised its stake in shares of Tronox Holdings PLC (NYSE:TROX) by 1,070.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,257 shares of the company’s stock after acquiring an additional 10,295 shares during the quarter. GAMMA Investing LLC’s holdings in Tronox were worth $79,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TROX. Sterling Capital Management LLC increased its stake in shares of Tronox by 832.6% in the fourth quarter. Sterling Capital Management LLC now owns 3,805 shares of the company’s stock valued at $38,000 after buying an additional 3,397 shares in the last quarter. Mariner LLC acquired a new stake in shares of Tronox in the fourth quarter valued at $105,000. Atria Investments Inc acquired a new stake in shares of Tronox in the fourth quarter valued at $112,000. Cibc World Markets Corp acquired a new stake in shares of Tronox in the fourth quarter valued at $112,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Tronox in the fourth quarter valued at $117,000. 73.36% of the stock is owned by institutional investors.

Tronox Trading Up 4.8%

NYSE:TROX opened at $5.45 on Wednesday. Tronox Holdings PLC has a fifty-two week low of $4.35 and a fifty-two week high of $18.42. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.28 and a quick ratio of 0.61. The stock has a market capitalization of $863.92 million, a PE ratio of -5.74 and a beta of 1.42. The business’s 50-day simple moving average is $5.42 and its 200-day simple moving average is $7.46.

Tronox (NYSE:TROX) last released its quarterly earnings data on Wednesday, April 30th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.17). The business had revenue of $738.00 million for the quarter, compared to the consensus estimate of $745.96 million. Tronox had a negative net margin of 4.94% and a negative return on equity of 1.57%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. Sell-side analysts expect that Tronox Holdings PLC will post 0.49 earnings per share for the current fiscal year.

Tronox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 9.17%. The ex-dividend date is Monday, May 19th. Tronox’s dividend payout ratio (DPR) is -52.63%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TROX shares. Truist Financial lowered their price objective on Tronox from $14.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Morgan Stanley lowered their price objective on Tronox from $12.00 to $8.00 and set an “equal weight” rating for the company in a research report on Monday, May 5th. BMO Capital Markets reiterated a “market perform” rating and issued a $7.00 price objective (down from $13.00) on shares of Tronox in a research report on Wednesday, May 7th. Wall Street Zen lowered Tronox from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Finally, UBS Group lowered their price objective on Tronox from $10.00 to $8.50 and set a “buy” rating for the company in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Tronox currently has an average rating of “Hold” and an average target price of $8.13.

Insiders Place Their Bets

In other Tronox news, SVP Jeffrey N. Neuman bought 10,266 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $4.89 per share, with a total value of $50,200.74. Following the acquisition, the senior vice president now owns 10,266 shares of the company’s stock, valued at $50,200.74. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

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.