Bank of New York Mellon Corp Purchases 551,645 Shares of Tronox Holdings plc (NYSE:TROX)

Bank of New York Mellon Corp boosted its holdings in Tronox Holdings plc (NYSE:TROX) by 26.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,630,144 shares of the company’s stock after buying an additional 551,645 shares during the period. Bank of New York Mellon Corp owned 1.67% of Tronox worth $26,486,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Tronox in the third quarter worth $66,000. KBC Group NV increased its holdings in Tronox by 59.4% in the 4th quarter. KBC Group NV now owns 6,949 shares of the company’s stock valued at $70,000 after acquiring an additional 2,590 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Tronox by 34.6% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company’s stock worth $96,000 after purchasing an additional 1,683 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Tronox during the third quarter valued at about $190,000. Finally, Edgestream Partners L.P. purchased a new position in shares of Tronox during the third quarter valued at about $212,000. 73.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TROX shares. UBS Group dropped their price target on Tronox from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Truist Financial lowered their target price on Tronox from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. The Goldman Sachs Group reduced their price target on shares of Tronox from $13.00 to $11.50 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Morgan Stanley lowered their price objective on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Tronox presently has an average rating of “Moderate Buy” and a consensus target price of $15.36.

Tronox Stock Performance

NYSE:TROX opened at $7.63 on Monday. The firm has a market capitalization of $1.21 billion, a PE ratio of -24.61 and a beta of 1.64. The stock’s fifty day moving average is $9.17 and its 200 day moving average is $11.32. Tronox Holdings plc has a fifty-two week low of $6.64 and a fifty-two week high of $20.70. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 2.47.

Tronox (NYSE:TROX) last announced its earnings results on Wednesday, February 12th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). Tronox had a negative net margin of 1.56% and a negative return on equity of 0.63%. On average, sell-side analysts anticipate that Tronox Holdings plc will post 0.49 earnings per share for the current year.

Tronox Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 3rd will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 6.55%. The ex-dividend date is Monday, March 3rd. Tronox’s payout ratio is currently -161.29%.

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.