Massachusetts Financial Services Co. MA Lowers Stock Holdings in Tronox Holdings plc (NYSE:TROX)

Massachusetts Financial Services Co. MA lessened its holdings in Tronox Holdings plc (NYSE:TROX) by 68.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 264,513 shares of the company’s stock after selling 566,741 shares during the period. Massachusetts Financial Services Co. MA owned 0.17% of Tronox worth $2,664,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TROX. KBC Group NV raised its stake in Tronox by 59.4% during the 4th quarter. KBC Group NV now owns 6,949 shares of the company’s stock valued at $70,000 after purchasing an additional 2,590 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Tronox during the third quarter valued at approximately $66,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Tronox by 8.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 69,726 shares of the company’s stock worth $702,000 after buying an additional 5,309 shares in the last quarter. Quadrature Capital Ltd boosted its position in shares of Tronox by 64.5% during the third quarter. Quadrature Capital Ltd now owns 17,068 shares of the company’s stock worth $250,000 after acquiring an additional 6,693 shares during the last quarter. Finally, Private Capital Management LLC grew its stake in Tronox by 0.7% during the third quarter. Private Capital Management LLC now owns 1,161,304 shares of the company’s stock valued at $16,990,000 after acquiring an additional 7,530 shares in the last quarter. 73.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on TROX shares. 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 report on Monday, January 13th. 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 objective on Tronox from $13.00 to $11.50 and set a “buy” rating on the stock in a report on Wednesday, February 26th. UBS Group lowered their target price on Tronox from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Mizuho reduced their price target on shares of Tronox from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.50.

Tronox Stock Performance

NYSE TROX opened at $4.90 on Tuesday. The business’s 50 day moving average price is $7.95 and its 200-day moving average price is $10.43. Tronox Holdings plc has a fifty-two week low of $4.75 and a fifty-two week high of $20.70. The company has a market cap of $773.11 million, a P/E ratio of -15.79 and a beta of 1.53. 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 posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Tronox had a negative net margin of 1.56% and a negative return on equity of 0.63%. Sell-side analysts predict 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 was paid on Friday, April 4th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.125 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 10.21%. Tronox’s dividend payout ratio is -161.29%.

Insider Transactions at Tronox

In related news, Director Stephen J. Jones purchased 30,000 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were purchased at an average cost of $7.17 per share, for a total transaction of $215,100.00. Following the completion of the acquisition, the director now owns 30,000 shares in the company, valued at approximately $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 the SEC website. Company insiders own 1.60% of the company’s stock.

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.