Counterpoint Mutual Funds LLC Invests $354,000 in Tronox Holdings PLC $TROX

Key Points

• Counterpoint Mutual Funds LLC has invested approximately $354,000 in Tronox Holdings PLC by acquiring 69,799 shares during the second quarter.
• Several large investors have also recently modified their positions in Tronox, with 73.36% of the stock now owned by hedge funds and institutional investors.
• Research analysts have issued mixed ratings for Tronox, with target prices being lowered significantly; the current average price target stands at $5.12.

Counterpoint Mutual Funds LLC acquired a new position in Tronox Holdings PLC (NYSE:TROX - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 69,799 shares of the company's stock, valued at approximately $354,000.

A number of other large investors also recently modified their holdings of TROX. Nuveen LLC purchased a new position in shares of Tronox in the 1st quarter worth about $17,268,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Tronox in the first quarter valued at about $6,765,000. Lightrock Netherlands B.V. grew its stake in shares of Tronox by 82.7% in the first quarter. Lightrock Netherlands B.V. now owns 1,657,579 shares of the company's stock valued at $11,689,000 after buying an additional 750,145 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Tronox in the first quarter valued at about $3,620,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Tronox by 15.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,832,510 shares of the company's stock valued at $19,941,000 after buying an additional 375,643 shares in the last quarter. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Barclays lowered their target price on Tronox from $13.00 to $8.00 and set an "overweight" rating for the company in a research note on Wednesday, May 28th. BMO Capital Markets lowered Tronox from a "market perform" rating to an "underperform" rating and lowered their target price for the company from $7.00 to $3.00 in a research note on Monday, June 30th. The Goldman Sachs Group lowered their target price on Tronox from $7.00 to $4.50 and set a "buy" rating for the company in a research note on Thursday, August 7th. Alembic Global Advisors restated an "overweight" rating and set a $6.00 price objective on shares of Tronox in a research note on Monday, September 15th. Finally, Morgan Stanley lowered their price objective on Tronox from $8.00 to $4.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $5.12.

Insider Buying and Selling

In other news, Director Stephen J. Jones bought 8,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was bought at an average price of $3.19 per share, for a total transaction of $25,520.00. Following the transaction, the director owned 51,000 shares in the company, valued at $162,690. The trade was a 18.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jeffrey A. Engle bought 12,600 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was purchased at an average price of $3.07 per share, with a total value of $38,682.00. Following the transaction, the senior vice president owned 146,926 shares in the company, valued at approximately $451,062.82. This represents a 9.38% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 184,750 shares of company stock worth $579,714. 1.70% of the stock is currently owned by insiders.

Tronox Price Performance

Shares of NYSE TROX opened at $4.42 on Thursday. Tronox Holdings PLC has a fifty-two week low of $2.95 and a fifty-two week high of $15.07. The business has a 50 day moving average price of $4.41 and a two-hundred day moving average price of $5.28. The company has a quick ratio of 0.52, a current ratio of 2.10 and a debt-to-equity ratio of 1.64. The firm has a market cap of $700.50 million, a PE ratio of -2.80 and a beta of 1.32.

Tronox (NYSE:TROX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.24). The firm had revenue of $731.00 million during the quarter, compared to analyst estimates of $802.03 million. Tronox had a negative return on equity of 4.83% and a negative net margin of 8.48%.Tronox's revenue was down 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 EPS. Tronox has set its FY 2025 guidance at EPS. Sell-side analysts expect that Tronox Holdings PLC will post 0.49 earnings per share for the current fiscal year.

Tronox Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, August 11th will be given a $0.05 dividend. The ex-dividend date is Monday, August 11th. This represents a $0.20 annualized dividend and a dividend yield of 4.5%. Tronox's dividend payout ratio (DPR) is presently -12.66%.

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.

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