Royce & Associates LP Acquires 80,060 Shares of Tronox Holdings plc (NYSE:TROX)

Royce & Associates LP increased its holdings in shares of Tronox Holdings plc (NYSE:TROX) by 16.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 573,603 shares of the company’s stock after purchasing an additional 80,060 shares during the period. Royce & Associates LP owned approximately 0.36% of Tronox worth $5,776,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TROX. FMR LLC grew its position in Tronox by 4.7% in the 3rd quarter. FMR LLC now owns 23,805,227 shares of the company’s stock worth $348,270,000 after purchasing an additional 1,073,674 shares during the last quarter. Lightrock Netherlands B.V. bought a new stake in shares of Tronox in the fourth quarter valued at about $9,183,000. Bank of New York Mellon Corp lifted its stake in shares of Tronox by 26.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,630,144 shares of the company’s stock valued at $26,486,000 after buying an additional 551,645 shares during the period. Charles Schwab Investment Management Inc. grew its position in Tronox by 11.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,456,867 shares of the company’s stock worth $24,741,000 after buying an additional 244,646 shares in the last quarter. Finally, Algert Global LLC increased its stake in Tronox by 77.0% during the third quarter. Algert Global LLC now owns 546,967 shares of the company’s stock valued at $8,002,000 after acquiring an additional 237,916 shares during the period. Institutional investors own 73.36% of the company’s stock.

Analysts Set New Price Targets

TROX has been the topic of several recent research reports. Truist Financial decreased their price objective on Tronox from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. The Goldman Sachs Group decreased 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. Morgan Stanley dropped 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 note on Monday, January 13th. UBS Group reduced their price objective on shares of Tronox from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Mizuho lowered their target price 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. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $13.50.

Tronox Price Performance

NYSE:TROX opened at $7.43 on Thursday. The company has a quick ratio of 0.90, a current ratio of 2.47 and a debt-to-equity ratio of 1.54. The firm has a market cap of $1.17 billion, a PE ratio of -23.95 and a beta of 1.64. Tronox Holdings plc has a 12 month low of $6.64 and a 12 month high of $20.70. The company’s 50-day moving average price is $8.76 and its two-hundred day moving average price is $10.96.

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

Tronox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 3rd will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.73%. Tronox’s dividend payout ratio (DPR) is presently -161.29%.

Insider Activity at Tronox

In related news, Director Stephen J. Jones purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was acquired 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 directly owns 30,000 shares in the company, valued at approximately $215,100. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

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.