BNP Paribas Financial Markets Sells 69,454 Shares of Tronox Holdings plc (NYSE:TROX)

BNP Paribas Financial Markets reduced its holdings in Tronox Holdings plc (NYSE:TROX) by 80.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,075 shares of the company’s stock after selling 69,454 shares during the quarter. BNP Paribas Financial Markets’ holdings in Tronox were worth $172,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Tronox by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 12,650,443 shares of the company’s stock valued at $127,390,000 after buying an additional 193,895 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Tronox by 60.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company’s stock valued at $69,869,000 after acquiring an additional 2,616,804 shares during the last quarter. Capital International Investors raised its position in shares of Tronox by 14.8% in the 4th quarter. Capital International Investors now owns 6,060,943 shares of the company’s stock valued at $61,034,000 after acquiring an additional 781,223 shares during the period. Van Lanschot Kempen Investment Management N.V. boosted its stake in Tronox by 5.2% during 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 acquiring an additional 139,401 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Tronox by 26.5% during 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 acquiring an additional 551,645 shares during the last quarter. 73.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on TROX. BMO Capital Markets reaffirmed a “market perform” rating and issued a $7.00 target price (down previously from $13.00) on shares of Tronox in a research note on Wednesday, May 7th. Barclays decreased their price target on shares of Tronox from $13.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday. The Goldman Sachs Group dropped 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. Wall Street Zen cut Tronox from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Finally, Truist Financial decreased their price objective on Tronox from $14.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.31.

Insider Transactions at Tronox

In related news, SVP Jeffrey N. Neuman purchased 10,266 shares of Tronox stock in a transaction that occurred on 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 transaction, the senior vice president now owns 10,266 shares of the company’s stock, valued at approximately $50,200.74. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen J. Jones purchased 30,000 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was bought at an average price of $7.17 per share, with a total value of $215,100.00. Following the completion of the purchase, the director now owns 30,000 shares of the company’s stock, valued at approximately $215,100. 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 insiders.

Tronox Stock Performance

TROX opened at $5.70 on Friday. The company has a market capitalization of $903.23 million, a price-to-earnings ratio of -18.39 and a beta of 1.40. The business’s 50-day moving average price is $5.48 and its two-hundred day moving average price is $8.20. Tronox Holdings plc has a 1 year low of $4.35 and a 1 year high of $20.70. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.47 and a quick ratio of 0.90.

Tronox (NYSE:TROX) last announced its earnings results 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). The firm had revenue of $738.00 million during the quarter, compared to analyst estimates of $745.96 million. Tronox had a negative net margin of 1.56% and a negative return on equity of 0.63%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) EPS. Equities analysts expect that Tronox Holdings plc will post 0.49 EPS for the current fiscal year.

Tronox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, May 19th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 8.77%. Tronox’s dividend payout ratio (DPR) is presently -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.