Tronox Holdings PLC $TROX Shares Acquired by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP significantly increased its stake in Tronox Holdings PLC by 479.5% during the first quarter, now owning 197,332 shares valued at approximately $1.39 million.
• Tronox recently cut its dividend to $0.05 per share, reflecting a yield of 629.0%, with a payout ratio currently at -12.66%.
• Analysts have downgraded Tronox's price targets, with Goldman Sachs reducing its price objective from $7.00 to $4.50, indicating a bearish outlook for the company's stock.

Quantbot Technologies LP raised its holdings in shares of Tronox Holdings PLC (NYSE:TROX - Free Report) by 479.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,332 shares of the company's stock after buying an additional 163,277 shares during the period. Quantbot Technologies LP owned about 0.12% of Tronox worth $1,389,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. American Century Companies Inc. boosted its holdings in shares of Tronox by 10.3% in the first quarter. American Century Companies Inc. now owns 1,909,098 shares of the company's stock valued at $13,440,000 after purchasing an additional 177,787 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Tronox in the first quarter valued at approximately $682,000. Boston Partners boosted its holdings in shares of Tronox by 3.2% in the first quarter. Boston Partners now owns 111,279 shares of the company's stock valued at $783,000 after purchasing an additional 3,423 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Tronox by 3.1% in the first quarter. Russell Investments Group Ltd. now owns 233,819 shares of the company's stock valued at $1,646,000 after purchasing an additional 7,052 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Tronox in the first quarter valued at approximately $17,268,000. Hedge funds and other institutional investors own 73.36% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays lowered 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. BMO Capital Markets lowered Tronox from a "market perform" rating to an "underperform" rating and lowered their price target for the company from $7.00 to $3.00 in a report on Monday, June 30th. Wall Street Zen lowered Tronox from a "hold" rating to a "sell" rating in a report on Monday, May 5th. JPMorgan Chase & Co. upgraded Tronox from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $5.00 to $7.00 in a report on Friday, May 30th. Finally, Alembic Global Advisors reiterated an "overweight" rating and issued a $5.00 price target on shares of Tronox in a report on Monday, August 11th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Tronox currently has a consensus rating of "Hold" and an average target price of $5.01.

Insider Activity

In other Tronox news, Director Peter Johnston acquired 20,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average price of $3.21 per share, for a total transaction of $64,200.00. Following the acquisition, the director owned 191,513 shares in the company, valued at approximately $614,756.73. This trade represents a 11.66% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen J. Jones acquired 8,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were acquired at an average price of $3.19 per share, with a total value of $25,520.00. Following the acquisition, the director owned 51,000 shares in the company, valued at approximately $162,690. The trade was a 18.60% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 184,750 shares of company stock worth $579,714. Company insiders own 1.70% of the company's stock.

Tronox Stock Down 0.1%

Tronox stock traded down $0.01 during mid-day trading on Thursday, reaching $4.15. 493,610 shares of the company were exchanged, compared to its average volume of 3,017,716. The business has a fifty day moving average of $4.76 and a 200 day moving average of $5.75. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.52 and a current ratio of 2.10. The firm has a market cap of $657.07 million, a P/E ratio of -2.62 and a beta of 1.35. Tronox Holdings PLC has a 12-month low of $2.95 and a 12-month high of $15.07.

Tronox (NYSE:TROX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.24). Tronox had a negative return on equity of 4.83% and a negative net margin of 8.48%.The company had revenue of $731.00 million for the quarter, compared to analysts' expectations of $802.03 million. During the same quarter in the prior year, the company earned $0.07 EPS. The firm's quarterly revenue was down 10.9% on a year-over-year basis. Tronox has set its FY 2025 guidance at EPS. Research analysts anticipate that Tronox Holdings PLC will post 0.49 earnings per share for the current fiscal year.

Tronox Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, August 11th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, August 11th. Tronox's dividend payout ratio is currently -12.66%.

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.