Edgestream Partners L.P. Takes Position in Tronox Holdings plc (NYSE:TROX)

Edgestream Partners L.P. bought a new position in shares of Tronox Holdings plc (NYSE:TROX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 14,498 shares of the company’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Tronox by 4.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 25,065 shares of the company’s stock valued at $393,000 after buying an additional 1,014 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Tronox by 5.0% during the second quarter. The Manufacturers Life Insurance Company now owns 45,701 shares of the company’s stock valued at $717,000 after acquiring an additional 2,180 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Tronox by 9.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,548 shares of the company’s stock valued at $399,000 after acquiring an additional 2,488 shares in the last quarter. nVerses Capital LLC increased its holdings in Tronox by 35.1% in the 3rd quarter. nVerses Capital LLC now owns 10,400 shares of the company’s stock valued at $152,000 after acquiring an additional 2,700 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Tronox by 4.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 89,212 shares of the company’s stock worth $1,548,000 after purchasing an additional 4,204 shares in the last quarter. Institutional investors own 73.36% of the company’s stock.

Tronox Trading Down 0.4 %

Shares of TROX stock opened at $11.62 on Friday. The company has a market cap of $1.84 billion, a PE ratio of -24.21 and a beta of 1.59. Tronox Holdings plc has a 1 year low of $10.69 and a 1 year high of $20.70. The stock’s 50 day simple moving average is $12.74 and its two-hundred day simple moving average is $14.65. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 0.90.

Tronox (NYSE:TROX) last released its quarterly earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.30). The company had revenue of $804.00 million for the quarter, compared to analysts’ expectations of $790.63 million. Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.08) EPS. Research analysts predict that Tronox Holdings plc will post -0.04 earnings per share for the current year.

Tronox Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 11th will be issued a $0.125 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.50 annualized dividend and a dividend yield of 4.30%. Tronox’s dividend payout ratio (DPR) is presently -104.16%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. BMO Capital Markets reduced their target price on Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. UBS Group raised Tronox from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $17.00 to $19.00 in a research note on Thursday, October 10th. Barclays lowered their target price on Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, The Goldman Sachs Group cut their target price on shares of Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.00.

Tronox Company 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.