Massachusetts Financial Services Co. MA Grows Stock Position in Tronox Holdings plc (NYSE:TROX)

Massachusetts Financial Services Co. MA boosted its stake in shares of Tronox Holdings plc (NYSE:TROX) by 18.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 831,254 shares of the company’s stock after buying an additional 126,846 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Tronox were worth $12,161,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TROX. Point72 Asia Singapore Pte. Ltd. bought a new stake in Tronox in the second quarter valued at approximately $76,000. Headlands Technologies LLC bought a new stake in Tronox during the 2nd quarter valued at $83,000. nVerses Capital LLC purchased a new stake in Tronox during the 2nd quarter valued at $121,000. Entropy Technologies LP purchased a new stake in Tronox during the 3rd quarter valued at $190,000. Finally, MQS Management LLC bought a new stake in Tronox in the 2nd quarter worth $195,000. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Tronox Trading Down 2.4 %

TROX opened at $12.18 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 2.72 and a debt-to-equity ratio of 1.42. Tronox Holdings plc has a 52 week low of $10.69 and a 52 week high of $20.70. The stock has a market cap of $1.92 billion, a PE ratio of -25.02 and a beta of 1.66. The business has a 50 day moving average of $12.97 and a 200-day moving average of $15.05.

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

Tronox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Friday, November 8th. Tronox’s dividend payout ratio (DPR) is presently -104.16%.

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.