Bank of America Corp DE Decreases Holdings in Tronox Holdings plc (NYSE:TROX)

Bank of America Corp DE lowered its stake in Tronox Holdings plc (NYSE:TROX - Free Report) by 52.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 195,802 shares of the company's stock after selling 220,275 shares during the quarter. Bank of America Corp DE owned about 0.12% of Tronox worth $1,972,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in 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 purchasing an additional 193,895 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Tronox by 60.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company's stock worth $69,869,000 after purchasing an additional 2,616,804 shares in the last quarter. Capital International Investors lifted its stake in Tronox by 14.8% in the 4th quarter. Capital International Investors now owns 6,060,943 shares of the company's stock worth $61,034,000 after purchasing an additional 781,223 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its stake in Tronox by 5.2% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,799,111 shares of the company's stock worth $28,187,000 after purchasing an additional 139,401 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings 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 buying an additional 551,645 shares during the last quarter. 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 acquired 10,266 shares of the stock in a transaction on Wednesday, May 7th. The stock was bought at an average cost of $4.89 per share, with a total value of $50,200.74. Following the transaction, the senior vice president now directly owns 10,266 shares in the company, valued at approximately $50,200.74. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Stephen J. Jones purchased 30,000 shares of the stock in a transaction dated Tuesday, March 18th. The stock was acquired at an average cost of $7.17 per share, with a total value of $215,100.00. Following the transaction, the director now directly owns 30,000 shares in the company, valued at approximately $215,100. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TROX has been the topic of a number of research reports. Truist Financial reduced their target price on shares of Tronox from $14.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Mizuho reduced their target price on shares of Tronox from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. BMO Capital Markets restated a "market perform" rating and issued a $7.00 target price (down from $13.00) on shares of Tronox in a report on Wednesday, May 7th. Morgan Stanley reduced their target price on shares of Tronox from $12.00 to $8.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. Finally, Wall Street Zen downgraded shares of Tronox from a "hold" rating to a "sell" rating in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $8.13.

Tronox Trading Up 2.8%

NYSE:TROX traded up $0.16 during mid-day trading on Friday, hitting $5.88. 1,794,327 shares of the stock traded hands, compared to its average volume of 1,706,678. The stock has a market capitalization of $931.76 million, a price-to-earnings ratio of -18.97 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 firm's 50 day moving average is $5.34 and its two-hundred day moving average is $8.02. 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 issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.17). The firm had revenue of $738.00 million for the quarter, compared to the consensus estimate of $745.96 million. Tronox had a negative net margin of 1.56% and a negative return on equity of 0.63%. The business's revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) earnings per share. On average, equities research analysts predict that Tronox Holdings plc will post 0.49 earnings per share for the current year.

Tronox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Monday, May 19th will be issued a dividend of $0.125 per share. The ex-dividend date is Monday, May 19th. This represents a $0.50 annualized dividend and a yield of 8.50%. Tronox's payout ratio is -52.63%.

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.