First Eagle Investment Management LLC Grows Stake in Tronox Holdings plc (NYSE:TROX)

First Eagle Investment Management LLC raised its stake in Tronox Holdings plc (NYSE:TROX) by 20.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,026,040 shares of the company’s stock after purchasing an additional 175,200 shares during the quarter. First Eagle Investment Management LLC owned about 0.65% of Tronox worth $10,332,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Tronox by 4.7% during the third quarter. FMR LLC now owns 23,805,227 shares of the company’s stock valued at $348,270,000 after acquiring an additional 1,073,674 shares in the last quarter. Lightrock Netherlands B.V. acquired a new stake in shares of Tronox during the fourth quarter valued at about $9,183,000. Bank of New York Mellon Corp grew its stake in shares of Tronox by 26.5% during 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 acquiring an additional 551,645 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Tronox by 54.6% during the third quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock valued at $22,497,000 after acquiring an additional 543,091 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Tronox by 11.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,456,867 shares of the company’s stock valued at $24,741,000 after acquiring an additional 244,646 shares in the last quarter. 73.36% of the stock is owned by hedge funds and other institutional investors.

Tronox Stock Performance

Shares of NYSE TROX opened at $7.09 on Friday. 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’s 50-day moving average price is $8.93 and its two-hundred day moving average price is $11.17. Tronox Holdings plc has a 52-week low of $6.64 and a 52-week high of $20.70. The stock has a market capitalization of $1.12 billion, a P/E ratio of -22.85 and a beta of 1.64.

Tronox (NYSE:TROX) last issued its 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%. As a group, sell-side analysts forecast that Tronox Holdings plc will post 0.49 earnings per share for the current year.

Tronox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 3rd will be issued 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 yield of 7.06%. Tronox’s dividend payout ratio is currently -161.29%.

Analysts Set New Price Targets

TROX has been the subject of several recent analyst reports. Mizuho lowered their target price on Tronox from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday. Morgan Stanley decreased their price target on Tronox from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group decreased their price target on Tronox from $13.00 to $11.50 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Truist Financial decreased their price target on Tronox from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Finally, UBS Group decreased 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.