Principal Financial Group Inc. Sells 1,793 Shares of Tronox Holdings plc (NYSE:TROX)

Principal Financial Group Inc. cut its holdings in shares of Tronox Holdings plc (NYSE:TROX) by 13.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,648 shares of the company’s stock after selling 1,793 shares during the period. Principal Financial Group Inc.’s holdings in Tronox were worth $183,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Tronox by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,232 shares of the company’s stock valued at $178,000 after acquiring an additional 861 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Tronox by 4.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 25,065 shares of the company’s stock valued at $393,000 after acquiring an additional 1,014 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Tronox by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 21,049 shares of the company’s stock valued at $365,000 after acquiring an additional 1,657 shares during the last quarter. Natixis Advisors L.P. lifted its stake in shares of Tronox by 8.4% in the 4th quarter. Natixis Advisors L.P. now owns 22,197 shares of the company’s stock valued at $314,000 after acquiring an additional 1,726 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Tronox by 4.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 89,212 shares of the company’s stock valued at $1,548,000 after acquiring an additional 4,204 shares during the last quarter. 73.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group dropped their price target on Tronox from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Barclays lowered their target price on Tronox from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. The Goldman Sachs Group lowered their target price on Tronox from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. StockNews.com raised Tronox from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Mizuho initiated coverage on Tronox in a research report on Friday, June 7th. They set a “neutral” rating and a $22.00 target price for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Tronox presently has an average rating of “Hold” and an average target price of $18.67.

Tronox Stock Performance

Shares of Tronox stock opened at $12.05 on Monday. The company has a current ratio of 2.98, a quick ratio of 1.08 and a debt-to-equity ratio of 1.44. The business has a 50-day moving average price of $14.32 and a two-hundred day moving average price of $16.47. The company has a market cap of $1.90 billion, a P/E ratio of -5.40, a PEG ratio of 21.86 and a beta of 1.64. Tronox Holdings plc has a 1-year low of $10.08 and a 1-year high of $20.70.

Tronox (NYSE:TROX) last issued its earnings results on Thursday, August 1st. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.11). The firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $848.04 million. Tronox had a negative net margin of 2.14% and a negative return on equity of 3.40%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 earnings per share. As a group, analysts anticipate that Tronox Holdings plc will post 0.44 EPS for the current year.

Tronox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, August 26th will be paid a $0.125 dividend. The ex-dividend date is Monday, August 26th. This represents a $0.50 annualized dividend and a dividend yield of 4.15%. Tronox’s dividend payout ratio is presently -22.42%.

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.