Readystate Asset Management LP Takes $2.36 Million Position in Tronox Holdings PLC (NYSE:TROX)

Readystate Asset Management LP purchased a new position in shares of Tronox Holdings PLC (NYSE:TROX - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 335,264 shares of the company's stock, valued at approximately $2,360,000. Readystate Asset Management LP owned approximately 0.21% of Tronox at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Tronox in the 1st quarter valued at approximately $102,000. Deutsche Bank AG grew its holdings in Tronox by 52.8% in the 4th quarter. Deutsche Bank AG now owns 101,764 shares of the company's stock valued at $1,025,000 after buying an additional 35,146 shares during the last quarter. Sei Investments Co. grew its holdings in Tronox by 39.9% in the 4th quarter. Sei Investments Co. now owns 284,353 shares of the company's stock valued at $2,863,000 after buying an additional 81,078 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Tronox in the 4th quarter valued at approximately $701,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Tronox by 36.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 32,936 shares of the company's stock valued at $232,000 after buying an additional 8,777 shares during the last quarter. 73.36% of the stock is owned by hedge funds and other institutional investors.

Tronox Price Performance

Shares of Tronox stock traded up $0.20 during midday trading on Friday, hitting $5.82. 4,055,669 shares of the company were exchanged, compared to its average volume of 2,532,551. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.28 and a quick ratio of 0.61. The firm has a market cap of $922.87 million, a P/E ratio of -6.13 and a beta of 1.37. Tronox Holdings PLC has a 52 week low of $4.35 and a 52 week high of $16.57. The firm has a 50 day simple moving average of $5.48 and a 200-day simple moving average of $6.72.

Tronox (NYSE:TROX - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.17). The company had revenue of $738.00 million for the quarter, compared to the consensus estimate of $745.96 million. Tronox had a negative return on equity of 1.57% and a negative net margin of 4.94%. Tronox's quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) EPS. Research analysts forecast that Tronox Holdings PLC will post 0.49 earnings per share for the current year.

Tronox Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Monday, May 19th were given a dividend of $0.125 per share. The ex-dividend date was Monday, May 19th. This represents a $0.50 annualized dividend and a dividend yield of 8.59%. Tronox's dividend payout ratio (DPR) is presently -52.63%.

Insider Activity at Tronox

In related news, SVP Jeffrey N. Neuman bought 10,266 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average price of $4.89 per share, for a total transaction of $50,200.74. Following the transaction, the senior vice president directly owned 10,266 shares of the company's stock, valued at $50,200.74. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Morgan Stanley lowered their target price on Tronox from $12.00 to $8.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. 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 report on Monday, June 30th. Barclays lowered their target price on Tronox from $13.00 to $8.00 and set an "overweight" rating on the stock in a report on Wednesday, May 28th. The Goldman Sachs Group decreased their price objective on Tronox from $11.50 to $7.50 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Truist Financial decreased their price objective on Tronox from $14.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $7.06.

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.