Verition Fund Management LLC Lowers Stock Position in Tronox Holdings plc (NYSE:TROX)

Verition Fund Management LLC cut its holdings in Tronox Holdings plc (NYSE:TROX) by 9.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,723 shares of the company’s stock after selling 16,650 shares during the quarter. Verition Fund Management LLC owned approximately 0.10% of Tronox worth $2,264,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TROX. Driehaus Capital Management LLC grew its position in Tronox by 109.3% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,646,916 shares of the company’s stock valued at $41,530,000 after purchasing an additional 1,381,975 shares during the last quarter. FMR LLC raised its stake in shares of Tronox by 4.7% in the third quarter. FMR LLC now owns 23,805,227 shares of the company’s stock worth $348,270,000 after purchasing an additional 1,073,674 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Tronox by 54.6% during the third quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock valued at $22,497,000 after buying an additional 543,091 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Tronox in the 2nd quarter worth about $4,489,000. Finally, Algert Global LLC raised its position in Tronox by 77.0% in the 3rd quarter. Algert Global LLC now owns 546,967 shares of the company’s stock worth $8,002,000 after buying an additional 237,916 shares during the last quarter. 73.36% of the stock is currently owned by institutional investors.

Tronox Trading Down 2.4 %

Shares of TROX stock opened at $11.67 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 0.90. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -24.31 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 firm has a fifty day moving average price of $12.80 and a 200-day moving average price of $14.71.

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

Tronox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Friday, November 8th. Tronox’s dividend payout ratio is currently -104.16%.

Analyst Ratings Changes

A number of analysts have recently commented on TROX shares. The Goldman Sachs Group reduced their price target on shares of Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. UBS Group raised Tronox from a “neutral” rating to a “buy” rating and increased their price target for the company from $17.00 to $19.00 in a report on Thursday, October 10th. Barclays cut their price objective on Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Finally, BMO Capital Markets lowered 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

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.