Tronox Holdings PLC $TROX Stake Lifted by Shah Capital Management

Key Points

• Shah Capital Management increased its stake in Tronox by 650% in Q4, buying 2.6 million shares to hold 3.0 million shares (about 1.89% of Tronox) — the position represents roughly 2.4% of Shah's portfolio and is its seventh-largest holding.
• Company insiders have been net sellers recently — insiders sold 172,711 shares valued at about $1.145 million over the last 90 days (including SVP Jeffrey Neuman and Director Jean Francois Turgeon); insiders now own ~2.0% of the stock while institutional investors hold ~73.36%.
• Tronox reported Q4 EPS of -$0.60, missing estimates and showing negative margins and ROE, and analysts maintain a consensus “Hold” rating with a $6.40 price target despite several bullish price-target revisions.

Shah Capital Management grew its holdings in shares of Tronox Holdings PLC (NYSE:TROX - Free Report) by 650.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,000,000 shares of the company's stock after purchasing an additional 2,600,000 shares during the quarter. Tronox makes up about 2.4% of Shah Capital Management's portfolio, making the stock its 7th biggest holding. Shah Capital Management owned approximately 1.89% of Tronox worth $12,510,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TROX. AQR Capital Management LLC acquired a new stake in shares of Tronox in the first quarter valued at about $1,188,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Tronox by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,574 shares of the company's stock worth $497,000 after acquiring an additional 3,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Tronox by 12.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 366,203 shares of the company's stock valued at $2,578,000 after acquiring an additional 41,092 shares in the last quarter. Jane Street Group LLC grew its stake in Tronox by 93.2% during the 1st quarter. Jane Street Group LLC now owns 118,637 shares of the company's stock valued at $835,000 after acquiring an additional 57,237 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Tronox by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,826,014 shares of the company's stock valued at $14,329,000 after acquiring an additional 31,538 shares during the last quarter. Hedge funds and other institutional investors own 73.36% of the company's stock.

Insider Activity at Tronox

In other news, SVP Jeffrey N. Neuman sold 22,965 shares of the company's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $6.59, for a total value of $151,339.35. Following the transaction, the senior vice president owned 248,831 shares of the company's stock, valued at $1,639,796.29. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jean Francois Turgeon sold 18,563 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $6.60, for a total value of $122,515.80. Following the transaction, the director owned 754,009 shares of the company's stock, valued at approximately $4,976,459.40. This represents a 2.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 172,711 shares of company stock valued at $1,145,137 over the last 90 days. Corporate insiders own 2.00% of the company's stock.

Tronox Stock Performance

NYSE:TROX opened at $9.19 on Tuesday. The company has a debt-to-equity ratio of 2.16, a current ratio of 2.46 and a quick ratio of 0.67. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -3.09 and a beta of 1.11. The company's 50-day moving average is $7.25 and its two-hundred day moving average is $5.23. Tronox Holdings PLC has a 1-year low of $2.86 and a 1-year high of $9.53.

Tronox (NYSE:TROX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.17). The firm had revenue of $730.00 million for the quarter, compared to analyst estimates of $730.22 million. Tronox had a negative return on equity of 14.75% and a negative net margin of 16.22%.The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 EPS. Analysts forecast that Tronox Holdings PLC will post 0.49 EPS for the current year.

Tronox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, February 23rd will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, February 23rd. Tronox's dividend payout ratio is presently -6.73%.

Analysts Set New Price Targets

A number of research analysts have weighed in on TROX shares. The Goldman Sachs Group raised their target price on shares of Tronox from $5.50 to $7.50 and gave the stock a "buy" rating in a research note on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $8.00 price target on shares of Tronox in a report on Tuesday, January 27th. UBS Group lifted their price objective on Tronox from $5.25 to $7.50 and gave the stock a "neutral" rating in a research report on Thursday, February 26th. BMO Capital Markets reissued a "market perform" rating on shares of Tronox in a research note on Friday, February 20th. Finally, Zacks Research upgraded Tronox from a "strong sell" rating to a "hold" rating in a report on Monday, March 2nd. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $6.40.

Tronox Company 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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