PDT Partners LLC Acquires 27,949 Shares of Tronox Holdings plc (NYSE:TROX)

PDT Partners LLC grew its position in shares of Tronox Holdings plc (NYSE:TROX) by 42.6% in the third quarter, Holdings Channel reports. The fund owned 93,620 shares of the company’s stock after buying an additional 27,949 shares during the quarter. PDT Partners LLC’s holdings in Tronox were worth $1,370,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Royce & Associates LP boosted its stake in shares of Tronox by 20.8% during the third quarter. Royce & Associates LP now owns 493,543 shares of the company’s stock valued at $7,221,000 after purchasing an additional 84,830 shares during the period. Quantbot Technologies LP raised its stake in Tronox by 98.6% in the third quarter. Quantbot Technologies LP now owns 174,922 shares of the company’s stock worth $2,559,000 after buying an additional 86,852 shares in the last quarter. Algert Global LLC lifted its holdings in Tronox by 127.2% during the second quarter. Algert Global LLC now owns 309,051 shares of the company’s stock worth $4,849,000 after buying an additional 173,054 shares during the period. Hantz Financial Services Inc. purchased a new position in shares of Tronox in the 2nd quarter valued at $2,717,000. Finally, Victory Capital Management Inc. raised its position in shares of Tronox by 54.6% in the 3rd 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 in the last quarter. Institutional investors own 73.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TROX shares. UBS Group upgraded Tronox from a “neutral” rating to a “buy” rating and lifted their target price for the company from $17.00 to $19.00 in a research note on Thursday, October 10th. The Goldman Sachs Group reduced their price objective 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. BMO Capital Markets lowered their target price 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. StockNews.com upgraded Tronox from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Finally, Barclays dropped their target price on Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Tronox Price Performance

Shares of TROX opened at $12.10 on Monday. 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’s fifty day moving average price is $12.93 and its 200-day moving average price is $14.88. Tronox Holdings plc has a 1-year low of $10.69 and a 1-year high of $20.70. The firm has a market capitalization of $1.91 billion, a PE ratio of -25.21 and a beta of 1.66.

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 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 quarter in the previous year, the firm posted ($0.08) EPS. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, equities research analysts predict that Tronox Holdings plc will post -0.04 EPS for the current year.

Tronox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.13%. The ex-dividend date is Friday, November 8th. Tronox’s payout ratio is -104.17%.

Tronox Company Profile

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.