Invenomic Capital Management LP Invests $2.11 Million in Tronox Holdings plc (NYSE:TROX)

Invenomic Capital Management LP bought a new position in Tronox Holdings plc (NYSE:TROX - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 209,858 shares of the company's stock, valued at approximately $2,113,000. Invenomic Capital Management LP owned about 0.13% of Tronox as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sterling Capital Management LLC grew its holdings in 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 holdings in Tronox by 59.4% during the 4th quarter. KBC Group NV now owns 6,949 shares of the company's stock valued at $70,000 after purchasing an additional 2,590 shares during the last quarter. Mariner LLC bought a new position in Tronox in the 4th quarter worth about $105,000. Atria Investments Inc bought a new position in Tronox in the 4th quarter worth about $112,000. Finally, Cibc World Markets Corp bought a new position in Tronox in the 4th quarter worth about $112,000. 73.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group dropped their target price on shares of Tronox from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group dropped their target price on shares of Tronox from $11.50 to $7.50 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley dropped their target price on shares of Tronox from $12.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. BMO Capital Markets restated a "market perform" rating and issued a $7.00 target price (down from $13.00) on shares of Tronox in a research note on Wednesday, May 7th. Finally, Mizuho dropped their target price on shares of Tronox from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $9.64.

Insider Activity at Tronox

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

Tronox Stock Down 2.3%

Shares of TROX traded down $0.13 during mid-day trading on Wednesday, hitting $5.56. The company's stock had a trading volume of 4,683,389 shares, compared to its average volume of 1,535,016. The company's 50-day moving average is $5.98 and its 200-day moving average is $8.78. Tronox Holdings plc has a 52-week low of $4.35 and a 52-week high of $20.70. The firm has a market capitalization of $878.14 million, a price-to-earnings ratio of -17.93 and a beta of 1.40. The company has a current ratio of 2.47, a quick ratio of 0.90 and a debt-to-equity ratio of 1.54.

Tronox (NYSE:TROX - Get Free Report) last announced its quarterly 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). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. The business had revenue of $738.00 million during the quarter, compared to analysts' expectations of $745.96 million. During the same period in the previous year, the company posted ($0.05) EPS. Tronox's revenue for the quarter was down 4.7% on a year-over-year basis. On average, equities research analysts forecast that Tronox Holdings plc will post 0.49 EPS for the current fiscal year.

Tronox Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Monday, May 19th will be given a dividend of $0.125 per share. 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 8.99%. Tronox's payout ratio is -52.63%.

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.