BNP Paribas Financial Markets Lowers Holdings in Tronox Holdings plc (NYSE:TROX)

BNP Paribas Financial Markets reduced its stake in Tronox Holdings plc (NYSE:TROX - Free Report) by 80.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,075 shares of the company's stock after selling 69,454 shares during the period. BNP Paribas Financial Markets' holdings in Tronox were worth $172,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sei Investments Co. increased its stake in shares of Tronox by 39.9% in the 4th quarter. Sei Investments Co. now owns 284,353 shares of the company's stock worth $2,863,000 after acquiring an additional 81,078 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Tronox during the fourth quarter valued at approximately $701,000. Bank of New York Mellon Corp boosted its position in shares of Tronox by 26.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,630,144 shares of the company's stock worth $26,486,000 after purchasing an additional 551,645 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Tronox in the 4th quarter worth approximately $254,000. Finally, Vanguard Group Inc. grew its stake in shares of Tronox by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 12,650,443 shares of the company's stock worth $127,390,000 after buying an additional 193,895 shares during the last quarter. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

Tronox Stock Performance

NYSE:TROX traded up $0.04 on Wednesday, hitting $5.69. The stock had a trading volume of 2,851,824 shares, compared to its average volume of 1,694,795. The business's 50-day simple moving average is $5.38 and its two-hundred day simple moving average is $8.09. The stock has a market cap of $901.65 million, a price-to-earnings ratio of -18.35 and a beta of 1.40. Tronox Holdings plc has a 52-week low of $4.35 and a 52-week high of $20.29. The company has a quick ratio of 0.90, a current ratio of 2.47 and a debt-to-equity ratio of 1.54.

Tronox (NYSE:TROX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.17). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. The business had revenue of $738.00 million during the quarter, compared to analysts' expectations of $745.96 million. During the same period in the previous year, the business posted ($0.05) EPS. The business's quarterly revenue was down 4.7% compared to the same quarter last year. As a group, research analysts predict that Tronox Holdings plc will post 0.49 earnings per share for the current year.

Tronox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, May 19th will be paid a $0.125 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.50 annualized dividend and a dividend yield of 8.79%. Tronox's dividend payout ratio (DPR) is -52.63%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TROX. The Goldman Sachs Group lowered their price objective on Tronox from $11.50 to $7.50 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Mizuho lowered their price target on Tronox from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. BMO Capital Markets reissued a "market perform" rating and set a $7.00 price objective (down from $13.00) on shares of Tronox in a research report on Wednesday, May 7th. Barclays reduced their price objective on shares of Tronox from $13.00 to $8.00 and set an "overweight" rating for the company in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. upgraded shares of Tronox from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $5.00 to $7.00 in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $8.13.

Insider Transactions at Tronox

In other news, Director Stephen J. Jones purchased 30,000 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was acquired at an average cost of $7.17 per share, for a total transaction of $215,100.00. Following the completion of the transaction, the director now directly owns 30,000 shares in the company, valued at $215,100. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jeffrey N. Neuman acquired 10,266 shares of Tronox stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average cost of $4.89 per share, with a total value of $50,200.74. Following the completion of the purchase, the senior vice president now owns 10,266 shares of the company's stock, valued at approximately $50,200.74. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by company insiders.

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.