Harbor Capital Advisors Inc. bought a new position in Tronox Holdings plc (NYSE:TROX – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 65,185 shares of the company’s stock, valued at approximately $829,000.
Several other institutional investors have also recently made changes to their positions in the company. 44 Wealth Management LLC raised its position in shares of Tronox by 1.8% in the 1st quarter. 44 Wealth Management LLC now owns 48,325 shares of the company’s stock worth $695,000 after acquiring an additional 843 shares in the last quarter. Arizona State Retirement System increased its position in Tronox by 2.7% during the 1st quarter. Arizona State Retirement System now owns 33,567 shares of the company’s stock valued at $483,000 after buying an additional 884 shares in the last quarter. Mendota Financial Group LLC increased its holdings in shares of Tronox by 37.7% in the 1st quarter. Mendota Financial Group LLC now owns 3,322 shares of the company’s stock worth $66,000 after purchasing an additional 910 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its holdings in shares of Tronox by 0.6% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 192,092 shares of the company’s stock worth $2,762,000 after purchasing an additional 1,075 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Tronox by 41.5% in the 1st quarter. US Bancorp DE now owns 3,773 shares of the company’s stock worth $54,000 after purchasing an additional 1,106 shares in the last quarter. Institutional investors own 70.22% of the company’s stock.
In other news, Director Vanessa Ann Guthrie sold 2,395 shares of Tronox stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $13.66, for a total value of $32,715.70. Following the sale, the director now directly owns 41,324 shares of the company’s stock, valued at $564,485.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.
Tronox Price Performance
Tronox (NYSE:TROX – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.11). Tronox had a negative net margin of 4.60% and a positive return on equity of 5.60%. The business had revenue of $794.00 million during the quarter, compared to analysts’ expectations of $821.82 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Tronox’s revenue was down 16.0% on a year-over-year basis. As a group, analysts expect that Tronox Holdings plc will post 0.46 earnings per share for the current fiscal year.
Tronox Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Monday, August 14th were given a $0.125 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.50 annualized dividend and a dividend yield of 3.73%. Tronox’s payout ratio is -56.18%.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on TROX shares. Credit Suisse Group upgraded Tronox from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $12.00 to $13.00 in a research note on Tuesday, August 8th. UBS Group downgraded Tronox from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $17.00 to $15.00 in a research note on Thursday, September 7th. Morgan Stanley restated an “equal weight” rating and issued a $16.00 price target on shares of Tronox in a research note on Tuesday, August 1st. BMO Capital Markets dropped their price target on Tronox from $15.00 to $13.00 and set a “market perform” rating on the stock in a research note on Friday, July 28th. Finally, StockNews.com started coverage on Tronox in a research note on Sunday, August 20th. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Tronox has a consensus rating of “Hold” and an average target price of $15.43.
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.
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