Federated Hermes Inc. lifted its position in Tronox Holdings plc (NYSE:TROX – Get Rating) by 124.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 281,654 shares of the company’s stock after purchasing an additional 156,328 shares during the quarter. Federated Hermes Inc. owned approximately 0.18% of Tronox worth $3,450,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in shares of Tronox by 117.8% during the second quarter. US Bancorp DE now owns 2,176 shares of the company’s stock worth $36,000 after buying an additional 1,177 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Tronox during the 2nd quarter worth approximately $57,000. Covestor Ltd grew its stake in shares of Tronox by 1,757.7% in the 1st quarter. Covestor Ltd now owns 2,898 shares of the company’s stock valued at $57,000 after purchasing an additional 2,742 shares during the last quarter. Evanson Asset Management LLC acquired a new position in shares of Tronox in the third quarter valued at approximately $123,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Tronox by 59.2% during the third quarter. Tower Research Capital LLC TRC now owns 10,361 shares of the company’s stock worth $127,000 after purchasing an additional 3,854 shares during the last quarter. Hedge funds and other institutional investors own 67.30% of the company’s stock.
Analyst Ratings Changes
TROX has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on shares of Tronox from $16.01 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tronox from $16.00 to $18.00 in a research note on Friday, February 17th. Credit Suisse Group restated an “underperform” rating and issued a $10.00 price objective on shares of Tronox in a research report on Thursday, February 16th. Finally, UBS Group increased their target price on Tronox from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, January 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.88.
Tronox Stock Performance
Tronox (NYSE:TROX – Get Rating) last posted its earnings results on Wednesday, February 15th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.29). Tronox had a net margin of 14.39% and a return on equity of 13.55%. The firm had revenue of $649.00 million during the quarter, compared to analyst estimates of $659.43 million. During the same period last year, the company posted $0.53 EPS. The firm’s revenue for the quarter was down 26.6% on a year-over-year basis. As a group, equities analysts anticipate that Tronox Holdings plc will post 1.42 EPS for the current fiscal year.
Tronox Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Shareholders of record on Monday, March 6th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Friday, March 3rd. Tronox’s payout ratio is currently 15.87%.
Insider Buying and Selling at Tronox
In other news, CEO Jean Francois Turgeon sold 93,942 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $15.51, for a total transaction of $1,457,040.42. Following the completion of the transaction, the chief executive officer now directly owns 756,732 shares of the company’s stock, valued at approximately $11,736,913.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Jean Francois Turgeon sold 93,942 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $15.51, for a total value of $1,457,040.42. Following the sale, the chief executive officer now directly owns 756,732 shares in the company, valued at $11,736,913.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John Srivisal sold 40,026 shares of Tronox stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $15.52, for a total value of $621,203.52. Following the sale, the senior vice president now owns 115,051 shares of the company’s stock, valued at approximately $1,785,591.52. The disclosure for this sale can be found here. Insiders have sold 195,487 shares of company stock valued at $3,032,725 over the last quarter. Corporate insiders own 1.60% of the company’s stock.
Tronox Profile
Tronox Holdings Plc engages in the mining and inorganic chemical business. Its products include Titanium Dioxide Mineral Sands. The firm also mines and processes titanium ore, zircon and other minerals, and manufactures titanium dioxide pigments. The company was founded in 2006 and is headquartered in Stamford, CT.
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