Bank of America Corp DE Cuts Position in Tronox Holdings PLC $TROX

Key Points

• Bank of America cut its Tronox stake by 75.8% in the first quarter, selling 754,146 shares and retaining 240,596 shares worth approximately $2.35 million. Institutional investors collectively own 73.36% of Tronox.
• Analyst sentiment remains cautious: Tronox has a consensus “Reduce” rating and a $6.93 price target, with JPMorgan and Goldman Sachs among firms lowering ratings or targets.
• Tronox shares opened at $5.04 after a 4.7% decline, while the company reported a quarterly EPS loss that missed estimates despite 18.7% year-over-year revenue growth. It also declared a quarterly dividend of $0.05, representing a 4.0% annualized yield.

Bank of America Corp DE decreased its holdings in shares of Tronox Holdings PLC (NYSE:TROX - Free Report) by 75.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,596 shares of the company's stock after selling 754,146 shares during the quarter. Bank of America Corp DE owned about 0.15% of Tronox worth $2,351,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Osaic Holdings Inc. increased its position in shares of Tronox by 2.5% during the 4th quarter. Osaic Holdings Inc. now owns 60,004 shares of the company's stock valued at $250,000 after purchasing an additional 1,480 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Tronox by 27.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,576 shares of the company's stock valued at $48,000 after acquiring an additional 2,496 shares during the last quarter. Pilgrim Partners Asia Pte Ltd increased its position in Tronox by 18.1% during the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 19,600 shares of the company's stock valued at $82,000 after acquiring an additional 3,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Tronox by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,574 shares of the company's stock valued at $497,000 after acquiring an additional 3,042 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Tronox by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 500,461 shares of the company's stock valued at $4,890,000 after acquiring an additional 3,225 shares during the period. Institutional investors own 73.36% of the company's stock.

Analyst Ratings Changes

TROX has been the subject of several research analyst reports. JPMorgan Chase & Co. downgraded Tronox from a "neutral" rating to an "underweight" rating and decreased their target price for the stock from $7.00 to $5.00 in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of Tronox in a research note on Wednesday, May 20th. Truist Financial upgraded Tronox from a "sell" rating to a "hold" rating and set a $7.00 price target for the company in a report on Thursday, June 11th. The Goldman Sachs Group dropped their price target on Tronox from $9.00 to $6.50 and set a "sell" rating on the stock in a research report on Wednesday, July 22nd. Finally, Wall Street Zen downgraded shares of Tronox from a "hold" rating to a "sell" rating in a research note on Saturday, June 6th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, Tronox presently has a consensus rating of "Reduce" and a consensus price target of $6.93.

Tronox Trading Down 4.7%

Shares of NYSE:TROX opened at $5.04 on Wednesday. The business has a 50 day moving average of $6.04 and a two-hundred day moving average of $7.43. The company has a current ratio of 2.55, a quick ratio of 0.81 and a debt-to-equity ratio of 2.62. Tronox Holdings PLC has a 12-month low of $2.86 and a 12-month high of $10.59. The company has a market capitalization of $804.89 million, a PE ratio of -1.46 and a beta of 0.79.

Tronox (NYSE:TROX - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.51) EPS for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.13). Tronox had a negative net margin of 17.96% and a negative return on equity of 24.34%. The firm had revenue of $868.00 million for the quarter, compared to analyst estimates of $832.59 million. During the same period in the previous year, the company earned ($0.28) EPS. Tronox's revenue was up 18.7% compared to the same quarter last year. As a group, analysts forecast that Tronox Holdings PLC will post -1.37 EPS for the current year.

Tronox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Monday, August 10th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Monday, August 10th. Tronox's dividend payout ratio (DPR) is presently -5.78%.

Tronox Profile

Tronox Holdings plc is a vertically integrated global producer of titanium dioxide (TiO₂) pigment and specialty materials. The company's operations encompass the full supply chain for TiO₂, from mining and processing titanium-bearing ores—such as ilmenite and rutile—to the production of high-purity pigment for use in paints, coatings, plastics, paper and other industrial applications. In addition to TiO₂, Tronox's product portfolio includes zircon, rare earth byproducts and other specialty minerals that serve a range of industrial markets.

Tronox operates a network of mines, processing facilities and pigment plants located across North America, Europe, the Middle East, Australia and South Africa.

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