Aigen Investment Management LP Takes $363,000 Position in Tronox Holdings plc (NYSE:TROX)

Aigen Investment Management LP bought a new position in Tronox Holdings plc (NYSE:TROX) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 24,825 shares of the company’s stock, valued at approximately $363,000.

Other hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Tronox in the 2nd quarter worth approximately $76,000. Headlands Technologies LLC purchased a new stake in Tronox during the second quarter valued at $83,000. nVerses Capital LLC bought a new position in Tronox during the second quarter valued at $121,000. SG Americas Securities LLC bought a new position in Tronox during the first quarter valued at $124,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Tronox by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,232 shares of the company’s stock worth $178,000 after buying an additional 861 shares in the last quarter. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TROX. Barclays decreased their target price on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. The Goldman Sachs Group dropped their target price on Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, September 19th. StockNews.com upgraded Tronox from a “sell” rating to a “hold” rating in a report on Monday, August 5th. BMO Capital Markets cut their price objective on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Finally, UBS Group upgraded shares of Tronox from a “neutral” rating to a “buy” rating and raised their target price for the stock from $17.00 to $19.00 in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tronox has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Tronox Stock Performance

Shares of Tronox stock opened at $10.88 on Friday. The company has a market capitalization of $1.72 billion, a PE ratio of -22.67 and a beta of 1.66. The company has a 50-day simple moving average of $12.99 and a two-hundred day simple moving average of $15.43. Tronox Holdings plc has a one year low of $10.69 and a one year high of $20.70. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.90 and a current ratio of 2.72.

Tronox (NYSE:TROX) last released its quarterly earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.30). Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. The firm had revenue of $804.00 million during the quarter, compared to analysts’ expectations of $790.63 million. During the same period in the prior year, the firm posted ($0.08) earnings per share. Tronox’s revenue for the quarter was up 21.5% compared to the same quarter last year. Research analysts expect that Tronox Holdings plc will post -0.04 EPS for the current fiscal year.

Tronox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, November 8th. This represents a $0.50 annualized dividend and a yield of 4.60%. Tronox’s payout ratio is presently -104.17%.

Tronox Company 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.