AXQ Capital LP Makes New Investment in Tronox Holdings plc (NYSE:TROX)

AXQ Capital LP purchased a new position in Tronox Holdings plc (NYSE:TROX) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 15,898 shares of the company’s stock, valued at approximately $160,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in Tronox in the third quarter valued at approximately $66,000. KBC Group NV lifted its stake in Tronox by 59.4% during the 4th quarter. KBC Group NV now owns 6,949 shares of the company’s stock valued at $70,000 after acquiring an additional 2,590 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Tronox by 34.6% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company’s stock valued at $96,000 after acquiring an additional 1,683 shares during the last quarter. Atria Investments Inc acquired a new stake in shares of Tronox in the fourth quarter worth $112,000. Finally, Cibc World Markets Corp purchased a new position in shares of Tronox during the fourth quarter worth $112,000. 73.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tronox

In other Tronox news, Director Stephen J. Jones acquired 30,000 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was bought at an average price of $7.17 per share, for a total transaction of $215,100.00. Following the acquisition, the director now owns 30,000 shares in the company, valued at approximately $215,100. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

Tronox Price Performance

Shares of NYSE TROX opened at $7.37 on Tuesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 2.47. The firm has a market cap of $1.16 billion, a PE ratio of -23.76 and a beta of 1.64. Tronox Holdings plc has a one year low of $6.64 and a one year high of $20.70. The firm has a fifty day moving average of $8.65 and a 200 day moving average of $10.82.

Tronox (NYSE:TROX) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. As a group, research analysts predict that Tronox Holdings plc will post 0.49 EPS for the current fiscal year.

Tronox Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 3rd will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 6.79%. The ex-dividend date of this dividend is Monday, March 3rd. Tronox’s dividend payout ratio is currently -161.29%.

Analysts Set New Price Targets

Several equities research analysts have commented on TROX shares. Morgan Stanley lowered their price target on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group dropped their target price on Tronox from $13.00 to $11.50 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Truist Financial decreased their price target on Tronox from $17.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Mizuho dropped their price objective on shares of Tronox from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Finally, UBS Group decreased their target price on shares of Tronox from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Tronox currently has a consensus rating of “Moderate Buy” and an average target price of $13.50.

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.