Bank of New York Mellon Corp Grows Stake in Tronox Holdings plc (NYSE:TROX)

Bank of New York Mellon Corp grew its holdings in shares of Tronox Holdings plc (NYSE:TROX - Free Report) by 26.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,630,144 shares of the company's stock after buying an additional 551,645 shares during the period. Bank of New York Mellon Corp owned 1.67% of Tronox worth $26,486,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its stake in shares of Tronox by 4.7% in the 3rd quarter. FMR LLC now owns 23,805,227 shares of the company's stock worth $348,270,000 after acquiring an additional 1,073,674 shares in the last quarter. Lightrock Netherlands B.V. bought a new position in shares of Tronox during the fourth quarter valued at approximately $9,183,000. Victory Capital Management Inc. increased its stake in shares of Tronox by 54.6% during the third quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company's stock valued at $22,497,000 after purchasing an additional 543,091 shares in the last quarter. Algert Global LLC boosted its position in shares of Tronox by 77.0% in the 3rd quarter. Algert Global LLC now owns 546,967 shares of the company's stock worth $8,002,000 after purchasing an additional 237,916 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Tronox by 320.1% in the 3rd quarter. Barclays PLC now owns 182,629 shares of the company's stock worth $2,672,000 after buying an additional 139,161 shares during the last quarter. 73.36% of the stock is owned by hedge funds and other institutional investors.

Tronox Stock Performance

Shares of NYSE:TROX traded down $0.13 during trading on Thursday, hitting $6.82. The company's stock had a trading volume of 927,279 shares, compared to its average volume of 1,752,709. Tronox Holdings plc has a 12 month low of $6.64 and a 12 month high of $20.70. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -21.98 and a beta of 1.64. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.47 and a quick ratio of 0.90. The company has a 50-day moving average of $8.99 and a 200-day moving average of $11.20.

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Tronox (NYSE:TROX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.03). Tronox had a negative net margin of 1.56% and a negative return on equity of 0.63%. On average, sell-side analysts expect that Tronox Holdings plc will post 0.49 earnings per share for the current year.

Tronox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 3rd will be paid a dividend of $0.125 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.34%. Tronox's dividend payout ratio (DPR) is presently -161.29%.

Analysts Set New Price Targets

Several equities research analysts have commented on TROX shares. Mizuho dropped their target price on Tronox from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday. UBS Group decreased their target price on shares of Tronox from $16.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Truist Financial cut their price target on shares of Tronox from $17.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, February 18th. Morgan Stanley decreased their price objective on shares of Tronox from $16.00 to $12.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group cut their target price on Tronox from $13.00 to $11.50 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Tronox presently has an average rating of "Moderate Buy" and a consensus target price of $13.50.

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.