State Board of Administration of Florida Retirement System Grows Holdings in Tronox Holdings plc (NYSE:TROX)

State Board of Administration of Florida Retirement System lifted its holdings in Tronox Holdings plc (NYSE:TROX) by 13.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,325 shares of the company’s stock after buying an additional 4,792 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Tronox were worth $1,019,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new stake in shares of Tronox in the 2nd quarter worth about $34,000. Banque Cantonale Vaudoise purchased a new stake in shares of Tronox in the 3rd quarter worth about $37,000. O Shaughnessy Asset Management LLC grew its position in shares of Tronox by 6,329.7% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 2,379 shares of the company’s stock worth $53,000 after buying an additional 2,342 shares during the period. Maverick Capital Ltd. grew its position in Tronox by 170.0% during the 2nd quarter. Maverick Capital Ltd. now owns 3,642 shares of the company’s stock valued at $82,000 after purchasing an additional 2,293 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Tronox during the 3rd quarter valued at about $96,000. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

TROX opened at $23.77 on Thursday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.40 and a current ratio of 2.70. The stock has a market capitalization of $3.66 billion, a P/E ratio of 14.95 and a beta of 2.29. The company’s 50-day simple moving average is $23.54 and its two-hundred day simple moving average is $22.40. Tronox Holdings plc has a 52-week low of $15.16 and a 52-week high of $26.33.

Tronox (NYSE:TROX) last issued its quarterly earnings data on Wednesday, October 27th. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.08. Tronox had a net margin of 7.14% and a return on equity of 15.84%. The firm had revenue of $870.00 million for the quarter, compared to analysts’ expectations of $896.40 million. During the same quarter in the prior year, the business earned $0.05 EPS. The business’s quarterly revenue was up 28.9% on a year-over-year basis. Research analysts forecast that Tronox Holdings plc will post 2.36 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 13th. Stockholders of record on Monday, November 15th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Friday, November 12th. Tronox’s dividend payout ratio (DPR) is presently 25.16%.

Several brokerages recently commented on TROX. Morgan Stanley increased their price objective on shares of Tronox from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 14th. Zacks Investment Research raised shares of Tronox from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Friday, January 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Tronox in a research report on Thursday, October 14th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, UBS Group lowered their target price on shares of Tronox from $32.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, January 4th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $28.67.

Tronox Profile

Tronox Holdings Plc engages in the mining and inorganic chemical business. Its products include Titanium Dioxide Mineral Sands. The firm also mines and processes titanium ore, zircon and other minerals, and manufactures titanium dioxide pigments. The company was founded in 2006 and is headquartered in Stamford, CT.

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Author: ETF Daily News Team