Tronox Holdings plc (NYSE:TROX) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in Tronox Holdings plc (NYSE:TROX) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,669 shares of the company’s stock after selling 1,032 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Tronox were worth $654,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of Montreal Can raised its position in Tronox by 140.1% in the 3rd quarter. Bank of Montreal Can now owns 160,929 shares of the company’s stock valued at $2,333,000 after purchasing an additional 93,893 shares during the last quarter. 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 valued at $8,002,000 after purchasing an additional 237,916 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Tronox by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,212,221 shares of the company’s stock valued at $32,365,000 after purchasing an additional 112,010 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Tronox by 18.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 831,254 shares of the company’s stock valued at $12,161,000 after purchasing an additional 126,846 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Tronox in the 3rd quarter valued at $459,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Tronox Stock Performance

Shares of TROX opened at $10.62 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.90 and a current ratio of 2.72. The stock has a market capitalization of $1.68 billion, a P/E ratio of -22.13 and a beta of 1.59. The company’s fifty day moving average is $12.43 and its two-hundred day moving average is $14.39. Tronox Holdings plc has a 1 year low of $10.39 and a 1 year high of $20.70.

Tronox (NYSE:TROX) last posted its quarterly earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share 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 for the quarter, compared to analyst estimates of $790.63 million. During the same period last year, the company earned ($0.08) earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, sell-side analysts predict that Tronox Holdings plc will post -0.04 earnings per share for the current year.

Tronox Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 11th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.71%. Tronox’s dividend payout ratio (DPR) is presently -104.17%.

Analyst Ratings Changes

TROX has been the subject of several research reports. 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 report on Tuesday, October 29th. UBS Group upgraded shares of Tronox from a “neutral” rating to a “buy” rating and upped their price target for the company from $17.00 to $19.00 in a research report on Thursday, October 10th. Barclays dropped their price objective on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Finally, The Goldman Sachs Group dropped their price objective on shares of Tronox from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus 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.