JPMorgan Chase & Co. Reduces Holdings in Tronox Holdings plc (NYSE:TROX)

JPMorgan Chase & Co. reduced its position in Tronox Holdings plc (NYSE:TROX) by 27.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 608,948 shares of the company’s stock after selling 232,282 shares during the period. JPMorgan Chase & Co. owned 0.39% of Tronox worth $6,132,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings 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 valued at $127,390,000 after acquiring an additional 193,895 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Tronox by 60.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company’s stock valued at $69,869,000 after buying an additional 2,616,804 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Tronox by 0.8% during the third quarter. Geode Capital Management LLC now owns 2,713,606 shares of the company’s stock worth $39,708,000 after buying an additional 22,165 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Tronox by 26.5% during the fourth 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. Finally, Charles Schwab Investment Management Inc. increased its position in Tronox by 11.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,456,867 shares of the company’s stock valued at $24,741,000 after acquiring an additional 244,646 shares during the period. 73.36% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Stephen J. Jones purchased 30,000 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were bought at an average price of $7.17 per share, with a total value of $215,100.00. Following the completion of the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

Tronox Trading Up 1.4 %

NYSE TROX opened at $5.26 on Friday. The company’s fifty day moving average price is $6.95 and its two-hundred day moving average price is $9.90. The company has a market capitalization of $829.96 million, a price-to-earnings ratio of -16.95 and a beta of 1.53. Tronox Holdings plc has a 12 month low of $4.35 and a 12 month 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 posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. As a group, research analysts predict that Tronox Holdings plc will post 0.49 earnings per share for the current fiscal year.

Tronox Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 3rd were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 9.51%. The ex-dividend date was Monday, March 3rd. Tronox’s payout ratio is currently -161.29%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TROX. Truist Financial lowered their target price on Tronox from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday. Mizuho dropped their price objective on shares of Tronox from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Morgan Stanley reduced their target price on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group dropped their price target on shares of Tronox from $13.00 to $11.50 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, UBS Group lowered their price objective on Tronox from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.93.

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.