Tronox Holdings PLC $TROX Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its position in Tronox Holdings PLC (NYSE:TROX) by 41.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,297 shares of the company’s stock after selling 22,409 shares during the quarter. Bank of Montreal Can’s holdings in Tronox were worth $164,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TROX. Public Employees Retirement System of Ohio grew its holdings in shares of Tronox by 48.9% during the second quarter. Public Employees Retirement System of Ohio now owns 9,844 shares of the company’s stock worth $50,000 after buying an additional 3,231 shares in the last quarter. Amplius Wealth Advisors LLC acquired a new position in Tronox during the second quarter worth about $64,000. Focus Partners Advisor Solutions LLC purchased a new stake in Tronox during the 2nd quarter valued at about $64,000. Ground Swell Capital LLC purchased a new stake in Tronox during the 2nd quarter valued at about $70,000. Finally, CWM LLC raised its holdings in Tronox by 1,186.7% in the 1st quarter. CWM LLC now owns 10,731 shares of the company’s stock valued at $76,000 after acquiring an additional 9,897 shares during the last quarter. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Tronox Trading Up 9.0%

Shares of Tronox stock opened at $3.14 on Friday. The stock has a 50 day moving average of $3.79 and a 200 day moving average of $4.55. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.52 and a current ratio of 2.10. The firm has a market capitalization of $497.85 million, a price-to-earnings ratio of -1.99 and a beta of 1.36. Tronox Holdings PLC has a fifty-two week low of $2.86 and a fifty-two week high of $12.72.

Tronox (NYSE:TROX) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.25). The business had revenue of $699.00 million during the quarter, compared to analyst estimates of $776.21 million. Tronox had a negative net margin of 8.48% and a negative return on equity of 4.83%. The business’s revenue for the quarter was down 13.1% on a year-over-year basis. During the same period last year, the company earned ($0.13) EPS. As a group, research analysts predict that Tronox Holdings PLC will post 0.49 earnings per share for the current year.

Tronox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Monday, November 10th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, November 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.4%. Tronox’s dividend payout ratio (DPR) is currently -9.76%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TROX. The Goldman Sachs Group lowered their target price on Tronox from $7.00 to $4.50 and set a “buy” rating on the stock in a report on Thursday, August 7th. Morgan Stanley lowered their price objective on Tronox from $8.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 6th. Truist Financial dropped their target price on Tronox from $6.00 to $5.00 and set a “buy” rating for the company in a report on Monday, October 20th. UBS Group cut their target price on Tronox from $3.90 to $3.80 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Finally, Alembic Global Advisors reiterated an “overweight” rating and set a $6.00 price target on shares of Tronox in a report on Monday, September 15th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.92.

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.