Jennison Associates LLC Takes Position in Tronox Holdings plc (NYSE:TROX)


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Jennison Associates LLC bought a new stake in shares of Tronox Holdings plc (NYSE:TROX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 76,404 shares of the company’s stock, valued at approximately $1,117,000. Jennison Associates LLC owned approximately 0.05% of Tronox at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NEXT Financial Group Inc bought a new stake in Tronox during the fourth quarter worth about $37,000. Nisa Investment Advisors LLC grew its holdings in Tronox by 34.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,500 shares of the company’s stock worth $80,000 after purchasing an additional 1,400 shares during the period. New York State Teachers Retirement System purchased a new stake in Tronox in the fourth quarter worth about $110,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tronox by 31.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,673 shares of the company’s stock worth $200,000 after purchasing an additional 3,268 shares during the period. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Tronox in the third quarter worth about $117,000. 54.25% of the stock is currently owned by hedge funds and other institutional investors.

TROX has been the topic of a number of recent research reports. TheStreet upgraded shares of Tronox from a “d+” rating to a “c+” rating in a report on Thursday, October 29th. Morgan Stanley upped their price objective on shares of Tronox from $11.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, December 14th. Finally, Zacks Investment Research upgraded shares of Tronox from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Tuesday, January 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Tronox currently has a consensus rating of “Hold” and an average price target of $12.00.

Shares of NYSE TROX opened at $20.90 on Tuesday. The firm’s 50 day moving average price is $16.78 and its 200-day moving average price is $12.19. The company has a market cap of $3.00 billion, a PE ratio of 3.28 and a beta of 2.65. Tronox Holdings plc has a 52-week low of $3.97 and a 52-week high of $21.36. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.85 and a current ratio of 3.38.

Tronox (NYSE:TROX) last issued its earnings results on Thursday, February 18th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). Tronox had a return on equity of 7.18% and a net margin of 34.63%. On average, analysts forecast that Tronox Holdings plc will post 0.53 earnings per share for the current fiscal year.

Tronox Company Profile

Tronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines, and beneficiation and smelting operations. Its products include TiO2, zircon, and pig iron, as well as feedstock and other products comprising rutile prime, ilmenite, chloride slag, and other mining products.

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Institutional Ownership by Quarter for Tronox (NYSE:TROX)

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