Cubist Systematic Strategies LLC Acquires Shares of 961,000 Tronox Holdings PLC $TROX

Key Points

• Cubist Systematic Strategies LLC invested approximately $6.77 million in Tronox Holdings PLC, acquiring 961,000 shares during the first quarter.
• Wall Street analysts hold mixed opinions on Tronox, with a consensus rating of "Hold" and price targets ranging from $3.60 to $8.00.
• Tronox recently disclosed a dividend of $0.05 for investors, amidst a quarterly earnings report that showed a loss of ($0.28) EPS and revenue decline.

Cubist Systematic Strategies LLC purchased a new position in Tronox Holdings PLC (NYSE:TROX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 961,000 shares of the company's stock, valued at approximately $6,765,000. Cubist Systematic Strategies LLC owned approximately 0.61% of Tronox at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Graham Capital Management L.P. lifted its stake in Tronox by 156.1% during the 1st quarter. Graham Capital Management L.P. now owns 110,116 shares of the company's stock valued at $775,000 after acquiring an additional 67,126 shares during the period. Caption Management LLC bought a new position in Tronox during the 1st quarter valued at about $141,000. Trexquant Investment LP lifted its stake in Tronox by 166.7% during the 1st quarter. Trexquant Investment LP now owns 300,905 shares of the company's stock valued at $2,118,000 after acquiring an additional 188,080 shares during the period. Ieq Capital LLC bought a new position in Tronox during the 1st quarter valued at about $207,000. Finally, Jump Financial LLC lifted its stake in Tronox by 11.0% during the 1st quarter. Jump Financial LLC now owns 133,387 shares of the company's stock valued at $939,000 after acquiring an additional 13,228 shares during the period. Institutional investors own 73.36% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on TROX shares. The Goldman Sachs Group lowered their target price on shares of Tronox from $7.00 to $4.50 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Barclays lowered their target price on shares of Tronox from $13.00 to $8.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 28th. Truist Financial set a $5.00 target price on shares of Tronox in a research note on Monday, August 4th. Alembic Global Advisors restated an "overweight" rating and set a $5.00 target price on shares of Tronox in a research note on Monday, August 11th. Finally, BMO Capital Markets lowered shares of Tronox from a "market perform" rating to an "underperform" rating and reduced their price target for the company from $7.00 to $3.00 in a research report on Monday, June 30th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Tronox has a consensus rating of "Hold" and an average target price of $5.01.

Insider Buying and Selling

In other news, CEO John D. Romano bought 100,000 shares of Tronox stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average cost of $3.09 per share, with a total value of $309,000.00. Following the acquisition, the chief executive officer owned 1,333,485 shares of the company's stock, valued at $4,120,468.65. The trade was a 8.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen J. Jones bought 8,000 shares of Tronox stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average cost of $3.19 per share, with a total value of $25,520.00. Following the completion of the acquisition, the director directly owned 51,000 shares in the company, valued at $162,690. This represents a 18.60% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 184,750 shares of company stock worth $579,714 in the last ninety days. Corporate insiders own 1.70% of the company's stock.

Tronox Stock Performance

Shares of NYSE TROX traded up $0.29 during midday trading on Friday, hitting $4.47. 4,255,385 shares of the company's stock traded hands, compared to its average volume of 3,853,463. Tronox Holdings PLC has a 1 year low of $2.95 and a 1 year high of $15.07. The stock has a market capitalization of $707.79 million, a price-to-earnings ratio of -2.83 and a beta of 1.32. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.52 and a current ratio of 2.10. The firm has a fifty day moving average of $4.59 and a 200 day moving average of $5.53.

Tronox (NYSE:TROX - Get Free Report) last released its quarterly 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). Tronox had a negative net margin of 8.48% and a negative return on equity of 4.83%. The business had revenue of $731.00 million for the quarter, compared to analysts' expectations of $802.03 million. During the same period in the previous year, the company earned $0.07 EPS. Tronox's revenue for the quarter was down 10.9% compared to the same quarter last year. Tronox has set its FY 2025 guidance at EPS. On average, analysts forecast that Tronox Holdings PLC will post 0.49 earnings per share for the current year.

Tronox Cuts Dividend

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

Tronox 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.