Tronox Holdings plc (NYSE:TROX) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Tronox Holdings plc (NYSE:TROX) by 78.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,626 shares of the company’s stock after selling 113,147 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Tronox were worth $448,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Tronox in the second quarter worth $76,000. Headlands Technologies LLC acquired a new position in Tronox during the 2nd quarter valued at about $83,000. nVerses Capital LLC bought a new stake in shares of Tronox during the 2nd quarter worth about $121,000. Entropy Technologies LP bought a new stake in shares of Tronox during the 3rd quarter worth about $190,000. Finally, MQS Management LLC acquired a new stake in shares of Tronox in the 2nd quarter worth approximately $195,000. 73.36% of the stock is currently owned by institutional investors and hedge funds.

Tronox Stock Performance

Shares of NYSE TROX opened at $12.12 on Friday. The stock’s fifty day simple moving average is $12.94 and its 200 day simple moving average is $14.96. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -25.25 and a beta of 1.66. 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.

Tronox (NYSE:TROX) last issued its quarterly earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates 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 company 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 business posted ($0.08) EPS. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Tronox Holdings plc will post -0.04 earnings per share for the current fiscal year.

Tronox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 11th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.13%. Tronox’s dividend payout ratio is currently -104.16%.

Wall Street Analyst Weigh In

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

Tronox 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.