Shah Capital Management Buys 344,993 Shares of Tronox Holdings PLC $TROX

Shah Capital Management boosted its stake in shares of Tronox Holdings PLC (NYSE:TROX) by 13.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,915,807 shares of the company’s stock after purchasing an additional 344,993 shares during the period. Tronox makes up about 1.9% of Shah Capital Management’s portfolio, making the stock its 6th biggest position. Shah Capital Management’s holdings in Tronox were worth $11,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Tronox by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 500,461 shares of the company’s stock worth $4,890,000 after acquiring an additional 3,225 shares during the last quarter. Lazard Asset Management LLC boosted its position in Tronox by 6.3% in the first quarter. Lazard Asset Management LLC now owns 64,985 shares of the company’s stock valued at $635,000 after buying an additional 3,861 shares during the last quarter. Swiss National Bank boosted its position in Tronox by 2.6% in the first quarter. Swiss National Bank now owns 235,300 shares of the company’s stock valued at $2,299,000 after buying an additional 5,900 shares during the last quarter. CoreCap Advisors LLC purchased a new position in Tronox during the 3rd quarter worth approximately $30,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of Tronox by 6.7% in the 1st quarter. Quantinno Capital Management LP now owns 167,851 shares of the company’s stock valued at $1,640,000 after acquiring an additional 10,595 shares during the last quarter. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on TROX. JPMorgan Chase & Co. downgraded Tronox from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $7.00 to $5.00 in a research report on Thursday, August 13th. UBS Group dropped their price objective on shares of Tronox from $7.00 to $4.50 and set a “neutral” rating on the stock in a research note on Monday. The Goldman Sachs Group reissued a “sell” rating and set a $4.00 price target on shares of Tronox in a report on Friday. Mizuho cut their price objective on shares of Tronox from $5.50 to $4.50 and set an “underperform” rating for the company in a report on Wednesday, September 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tronox in a report on Friday, August 7th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $5.83.

Tronox Price Performance

TROX traded down $0.12 on Friday, reaching $3.67. 547,881 shares of the company’s stock were exchanged, compared to its average volume of 3,117,133. Tronox Holdings PLC has a twelve month low of $2.86 and a twelve month high of $10.59. The stock has a market cap of $585.30 million, a PE ratio of -1.06 and a beta of 0.92. The company has a debt-to-equity ratio of 2.62, a current ratio of 2.55 and a quick ratio of 0.81. The stock’s fifty day moving average price is $4.98 and its 200-day moving average price is $6.87.

Tronox (NYSE:TROX) last issued its earnings results on Wednesday, August 5th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.13). Tronox had a negative return on equity of 24.34% and a negative net margin of 17.96%.The company had revenue of $868.00 million for the quarter, compared to analyst estimates of $832.59 million. During the same quarter in the prior year, the firm earned ($0.28) earnings per share. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. Sell-side analysts expect that Tronox Holdings PLC will post -1.37 EPS for the current year.

Tronox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Monday, August 10th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 5.5%. The ex-dividend date is Monday, August 10th. Tronox’s dividend payout ratio (DPR) is presently -5.78%.

Tronox Profile

Tronox Holdings plc (NYSE:TROX) is a global producer of titanium dioxide pigment, a white pigment used to provide brightness, opacity and durability in products such as paints and coatings, plastics, paper and specialty materials. The company also produces titanium feedstocks, including titanium slag and synthetic rutile, as well as zircon and other mineral-sands products.

Tronox operates an integrated business that spans the mining and processing of mineral sands, the production of titanium feedstocks and the manufacture of titanium dioxide pigment.