Bank of New York Mellon Corp Sells 558,883 Shares of Tronox Holdings PLC (NYSE:TROX)

Bank of New York Mellon Corp trimmed its position in Tronox Holdings PLC (NYSE:TROX) by 21.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,071,261 shares of the company’s stock after selling 558,883 shares during the period. Bank of New York Mellon Corp owned approximately 1.31% of Tronox worth $14,582,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital International Investors boosted its stake in Tronox by 14.8% during the 4th quarter. Capital International Investors now owns 6,060,943 shares of the company’s stock valued at $61,034,000 after purchasing an additional 781,223 shares during the last quarter. Lightrock Netherlands B.V. boosted its stake in Tronox by 82.7% during the 1st quarter. Lightrock Netherlands B.V. now owns 1,657,579 shares of the company’s stock valued at $11,689,000 after purchasing an additional 750,145 shares during the last quarter. Aristotle Capital Boston LLC boosted its stake in Tronox by 121.8% during the 4th quarter. Aristotle Capital Boston LLC now owns 951,277 shares of the company’s stock valued at $9,579,000 after purchasing an additional 522,412 shares during the last quarter. Two Sigma Investments LP boosted its stake in Tronox by 253.5% during the 4th quarter. Two Sigma Investments LP now owns 512,739 shares of the company’s stock valued at $5,163,000 after purchasing an additional 367,675 shares during the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new position in Tronox during the 4th quarter valued at about $3,039,000. 73.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group decreased their price target on Tronox from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, July 9th. Morgan Stanley dropped their price objective on Tronox from $12.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Monday, May 5th. Mizuho lowered their target price on shares of Tronox from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, July 15th. Barclays lowered their target price on shares of Tronox from $13.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, May 28th. Finally, BMO Capital Markets cut shares of Tronox from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $7.00 to $3.00 in a report on Monday, June 30th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Tronox currently has a consensus rating of “Hold” and a consensus price target of $7.06.

Tronox Stock Performance

Tronox stock opened at $5.51 on Friday. The company has a current ratio of 2.28, a quick ratio of 0.61 and a debt-to-equity ratio of 1.61. The firm has a 50-day moving average of $5.47 and a 200-day moving average of $6.83. The firm has a market cap of $873.11 million, a P/E ratio of -5.80 and a beta of 1.37. Tronox Holdings PLC has a 1-year low of $4.35 and a 1-year high of $16.57.

Tronox (NYSE:TROX) last released its quarterly 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). Tronox had a negative return on equity of 1.57% and a negative net margin of 4.94%. The company had revenue of $738.00 million during the quarter, compared to the consensus estimate of $745.96 million. During the same period in the previous year, the company earned ($0.05) earnings per share. Tronox’s quarterly revenue was down 4.7% on a year-over-year basis. Sell-side analysts expect that Tronox Holdings PLC will post 0.49 EPS for the current year.

Tronox Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 9.07%. The ex-dividend date of this dividend was Monday, May 19th. Tronox’s dividend payout ratio is -52.63%.

Insider Buying and Selling at Tronox

In other Tronox news, SVP Jeffrey N. Neuman bought 10,266 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was acquired at an average price of $4.89 per share, with a total value of $50,200.74. Following the completion of the purchase, the senior vice president owned 10,266 shares of the company’s stock, valued at approximately $50,200.74. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Tronox Profile

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.