Primecap Management Co. CA Increases Position in Tronox Holdings plc (NYSE:TROX)

Primecap Management Co. CA lifted its position in shares of Tronox Holdings plc (NYSE:TROX) by 4.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,349,700 shares of the company’s stock after buying an additional 53,000 shares during the quarter. Primecap Management Co. CA owned approximately 0.85% of Tronox worth $13,591,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TROX. Public Employees Retirement System of Ohio bought a new stake in shares of Tronox during the third quarter valued at approximately $66,000. KBC Group NV lifted its stake in Tronox by 59.4% in the 4th quarter. KBC Group NV now owns 6,949 shares of the company’s stock worth $70,000 after purchasing an additional 2,590 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Tronox by 34.6% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company’s stock valued at $96,000 after purchasing an additional 1,683 shares during the last quarter. Atria Investments Inc purchased a new position in shares of Tronox during the fourth quarter valued at about $112,000. Finally, Cibc World Markets Corp bought a new stake in shares of Tronox in the fourth quarter worth about $112,000. Institutional investors own 73.36% of the company’s stock.

Insider Buying and Selling

In other news, Director Stephen J. Jones acquired 30,000 shares of Tronox stock in a transaction on Tuesday, March 18th. The shares were bought at an average cost of $7.17 per share, for a total transaction of $215,100.00. Following the acquisition, the director now directly owns 30,000 shares of the company’s stock, valued at $215,100. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.

Tronox Stock Performance

Tronox stock opened at $7.43 on Thursday. Tronox Holdings plc has a 1-year low of $6.64 and a 1-year high of $20.70. The company’s 50-day moving average is $8.76 and its 200 day moving average is $10.96. The firm has a market capitalization of $1.17 billion, a P/E ratio of -23.95 and a beta of 1.64. 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 issued 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%. Research analysts forecast that Tronox Holdings plc will post 0.49 EPS for the current year.

Tronox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 3rd will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 6.73%. The ex-dividend date is Monday, March 3rd. Tronox’s dividend payout ratio is presently -161.29%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TROX. Truist Financial cut their price target on Tronox from $17.00 to $14.00 and set a “buy” rating for the company 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. Mizuho reduced their target price on shares of Tronox from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Finally, UBS Group lowered their price target 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. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Tronox has an average rating of “Moderate Buy” and a consensus target price of $13.50.

Tronox Company 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.