Envestnet Asset Management Inc. Invests $395,000 in Tronox Holdings PLC $TROX

Envestnet Asset Management Inc. purchased a new stake in shares of Tronox Holdings PLC (NYSE:TROX) during the second quarter, HoldingsChannel reports. The institutional investor purchased 77,816 shares of the company’s stock, valued at approximately $395,000.

A number of other hedge funds also recently added to or reduced their stakes in TROX. Public Employees Retirement System of Ohio lifted its position in Tronox by 48.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,844 shares of the company’s stock valued at $50,000 after acquiring an additional 3,231 shares in the last quarter. CWM LLC raised its stake in shares of Tronox by 1,186.7% in the first quarter. CWM LLC now owns 10,731 shares of the company’s stock worth $76,000 after purchasing an additional 9,897 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new position in shares of Tronox during the second quarter valued at $64,000. Ground Swell Capital LLC purchased a new stake in shares of Tronox during the second quarter valued at $70,000. Finally, Ingalls & Snyder LLC bought a new stake in Tronox in the 2nd quarter worth about $91,000. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TROX shares. Truist Financial lowered their target price on shares of Tronox from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, October 20th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Tronox in a report on Friday, October 3rd. Alembic Global Advisors reiterated an “overweight” rating and set a $6.00 target price on shares of Tronox in a research note on Monday, September 15th. Mizuho lowered their price target on Tronox from $3.50 to $3.00 and set an “underperform” rating on the stock in a report on Thursday, November 6th. Finally, Morgan Stanley cut their price objective on Tronox from $8.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.92.

Tronox Stock Up 1.9%

TROX opened at $3.98 on Thursday. The firm’s 50 day simple moving average is $3.72 and its two-hundred day simple moving average is $4.51. The company has a market capitalization of $630.24 million, a PE ratio of -2.52 and a beta of 1.36. Tronox Holdings PLC has a 1-year low of $2.86 and a 1-year high of $12.52. The company has a current ratio of 2.10, a quick ratio of 0.52 and a debt-to-equity ratio of 1.64.

Tronox (NYSE:TROX) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.25). The company had revenue of $699.00 million during the quarter, compared to analysts’ expectations of $776.21 million. Tronox had a negative return on equity of 4.83% and a negative net margin of 8.48%.The company’s revenue for the quarter was down 13.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.13) earnings per share. As a group, equities analysts forecast that Tronox Holdings PLC will post 0.49 EPS for the current year.

Tronox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, November 10th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, November 10th. Tronox’s payout ratio is presently -9.76%.

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.