Bank of New York Mellon Corp Decreases Position in Tronox Holdings PLC (NYSE:TROX)

Bank of New York Mellon Corp lessened its position in shares of Tronox Holdings PLC (NYSE:TROX - Free Report) by 21.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,071,261 shares of the company's stock after selling 558,883 shares during the quarter. Bank of New York Mellon Corp owned about 1.31% of Tronox worth $14,582,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital International Investors raised its position in Tronox by 14.8% during the 4th quarter. Capital International Investors now owns 6,060,943 shares of the company's stock valued at $61,034,000 after purchasing an additional 781,223 shares in the last quarter. Lightrock Netherlands B.V. grew its stake in Tronox by 82.7% during the 1st quarter. Lightrock Netherlands B.V. now owns 1,657,579 shares of the company's stock worth $11,689,000 after buying an additional 750,145 shares during the last quarter. Aristotle Capital Boston LLC grew its stake in Tronox by 121.8% during the 4th quarter. Aristotle Capital Boston LLC now owns 951,277 shares of the company's stock valued at $9,579,000 after purchasing an additional 522,412 shares during the last quarter. Two Sigma Investments LP grew its stake in Tronox by 253.5% during the 4th quarter. Two Sigma Investments LP now owns 512,739 shares of the company's stock valued at $5,163,000 after purchasing an additional 367,675 shares during the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new stake in Tronox during the 4th quarter valued at about $3,039,000. Hedge funds and other institutional investors own 73.36% of the company's stock.

Insider Activity at Tronox

In related news, SVP Jeffrey N. Neuman bought 10,266 shares of Tronox stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average price of $4.89 per share, with a total value of $50,200.74. Following the purchase, the senior vice president owned 10,266 shares in the company, valued at $50,200.74. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. The Goldman Sachs Group lowered their price target on Tronox from $11.50 to $7.50 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Barclays cut their price target on Tronox from $13.00 to $8.00 and set an "overweight" rating for the company in a report on Wednesday, May 28th. Morgan Stanley cut their target price on Tronox from $12.00 to $8.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. BMO Capital Markets cut Tronox from a "market perform" rating to an "underperform" rating and cut their target price for the stock from $7.00 to $3.00 in a research note on Monday, June 30th. Finally, Mizuho cut their target price on Tronox from $6.00 to $5.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $7.06.

Tronox Stock Performance

Shares of TROX traded up $0.23 during midday trading on Wednesday, reaching $5.83. 2,639,621 shares of the stock were exchanged, compared to its average volume of 1,853,162. The company has a market capitalization of $924.30 million, a price-to-earnings ratio of -6.14 and a beta of 1.37. Tronox Holdings PLC has a twelve month low of $4.35 and a twelve month high of $16.57. The business's 50-day moving average price is $5.46 and its 200 day moving average price is $6.77. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.28 and a quick ratio of 0.61.

Tronox (NYSE:TROX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.17). Tronox had a negative net margin of 4.94% and a negative return on equity of 1.57%. The company had revenue of $738.00 million during the quarter, compared to analyst estimates of $745.96 million. During the same quarter last year, the firm earned ($0.05) EPS. The business's revenue was down 4.7% on a year-over-year basis. On average, sell-side analysts expect that Tronox Holdings PLC will post 0.49 EPS for the current fiscal year.

Tronox Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 8.57%. The ex-dividend date was Monday, May 19th. Tronox's dividend payout ratio (DPR) is -52.63%.

Tronox Company 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.