Petrus Trust Company LTA Raises Stake in Tronox Holdings plc (NYSE:TROX)

Petrus Trust Company LTA raised its position in shares of Tronox Holdings plc (NYSE:TROX) by 25.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,853 shares of the company’s stock after purchasing an additional 8,080 shares during the quarter. Petrus Trust Company LTA’s holdings in Tronox were worth $583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TROX. Driehaus Capital Management LLC increased its stake 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 in the last quarter. FMR LLC increased its stake in Tronox by 4.7% during the 3rd quarter. FMR LLC now owns 23,805,227 shares of the company’s stock valued at $348,270,000 after purchasing an additional 1,073,674 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Tronox by 54.6% in the third quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock worth $22,497,000 after acquiring an additional 543,091 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Tronox in the second quarter worth approximately $4,489,000. Finally, Algert Global LLC grew its stake in shares of Tronox by 77.0% in the third quarter. Algert Global LLC now owns 546,967 shares of the company’s stock worth $8,002,000 after acquiring an additional 237,916 shares during the period. 73.36% of the stock is currently owned by institutional investors.

Tronox Stock Performance

Shares of NYSE TROX opened at $11.97 on Thursday. The firm has a 50 day moving average of $12.85 and a 200 day moving average of $14.73. The company has a current ratio of 2.72, a quick ratio of 0.90 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -24.94 and a beta of 1.59. Tronox Holdings plc has a 12-month low of $10.69 and a 12-month high of $20.70.

Tronox (NYSE:TROX) last issued 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). Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. The firm had revenue of $804.00 million for the quarter, compared to analysts’ expectations of $790.63 million. During the same period in the prior year, the firm earned ($0.08) EPS. Tronox’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, research analysts anticipate that Tronox Holdings plc will post -0.04 earnings per share for the current year.

Tronox Announces Dividend

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 4.18%. 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 brokerages have recently commented on TROX. 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 upgraded shares of Tronox from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $17.00 to $19.00 in a research note on Thursday, October 10th. Barclays reduced their price target on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, BMO Capital Markets reduced their price target on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.