Millennium Management LLC Acquires 259,866 Shares of Tronox Holdings plc (NYSE:TROX)

Millennium Management LLC lifted its stake in shares of Tronox Holdings plc (NYSE:TROX - Free Report) by 63.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 670,697 shares of the company's stock after acquiring an additional 259,866 shares during the quarter. Millennium Management LLC owned approximately 0.42% of Tronox worth $6,754,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in TROX. Sterling Capital Management LLC increased its position in shares of Tronox by 832.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,805 shares of the company's stock valued at $38,000 after purchasing an additional 3,397 shares during the last quarter. KBC Group NV grew its position in shares of Tronox by 59.4% during the 4th quarter. KBC Group NV now owns 6,949 shares of the company's stock worth $70,000 after buying an additional 2,590 shares in the last quarter. Mariner LLC bought a new position in shares of Tronox during the 4th quarter worth $105,000. Atria Investments Inc bought a new position in shares of Tronox during the 4th quarter worth $112,000. Finally, Cibc World Markets Corp bought a new position in shares of Tronox during the 4th quarter worth $112,000. 73.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TROX. UBS Group dropped their price target on Tronox from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. BMO Capital Markets restated a "market perform" rating and set a $7.00 price objective (down from $13.00) on shares of Tronox in a research note on Wednesday, May 7th. Mizuho decreased their price objective on Tronox from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. The Goldman Sachs Group decreased their price objective on Tronox from $11.50 to $7.50 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. upgraded Tronox from a "neutral" rating to an "overweight" rating and increased their price target for the company from $5.00 to $7.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $8.31.

Insiders Place Their Bets

In related news, Director Stephen J. Jones purchased 30,000 shares of the stock in a transaction dated Tuesday, March 18th. The shares were acquired at an average cost of $7.17 per share, for a total transaction of $215,100.00. Following the acquisition, the director now directly owns 30,000 shares in the company, valued at approximately $215,100. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jeffrey N. Neuman purchased 10,266 shares of the stock in a transaction dated Wednesday, May 7th. The shares were bought at an average price of $4.89 per share, for a total transaction of $50,200.74. Following the completion of the acquisition, the senior vice president now owns 10,266 shares in the company, valued at $50,200.74. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by corporate insiders.

Tronox Trading Up 11.8%

Shares of TROX traded up $0.60 during trading hours on Friday, hitting $5.70. The stock had a trading volume of 8,164,640 shares, compared to its average volume of 1,671,033. Tronox Holdings plc has a 12-month low of $4.35 and a 12-month high of $20.70. The firm has a market cap of $903.23 million, a P/E ratio of -18.39 and a beta of 1.40. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 2.47. The company's fifty day simple moving average is $5.48 and its 200 day simple moving average is $8.18.

Tronox (NYSE:TROX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.17). The business had revenue of $738.00 million for the quarter, compared to analyst estimates of $745.96 million. Tronox had a negative net margin of 1.56% and a negative return on equity of 0.63%. The firm's revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) earnings per share. Equities research analysts forecast that Tronox Holdings plc will post 0.49 EPS for the current fiscal year.

Tronox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Monday, May 19th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a yield of 8.77%. Tronox's dividend payout ratio is currently -52.63%.

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.