Bank of New York Mellon Corp Sells 10,761 Shares of Tronox Holdings plc (NYSE:TROX)

Bank of New York Mellon Corp lowered its stake in Tronox Holdings plc (NYSE:TROX) by 0.9% in the second quarter, Holdings Channel reports. The fund owned 1,130,986 shares of the company’s stock after selling 10,761 shares during the quarter. Bank of New York Mellon Corp’s holdings in Tronox were worth $17,745,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Van Lanschot Kempen Investment Management N.V. lifted its holdings in shares of Tronox by 2.9% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,426,486 shares of the company’s stock worth $38,072,000 after acquiring an additional 68,155 shares during the last quarter. Raymond James & Associates acquired a new position in shares of Tronox in the second quarter valued at approximately $1,360,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Tronox by 4.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 25,065 shares of the company’s stock valued at $393,000 after buying an additional 1,014 shares during the period. BDF Gestion acquired a new position in shares of Tronox in the second quarter valued at approximately $1,273,000. Finally, Boston Partners increased its stake in shares of Tronox by 160.2% in the first quarter. Boston Partners now owns 1,018,025 shares of the company’s stock valued at $17,664,000 after buying an additional 626,744 shares during the period. Institutional investors own 73.36% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on TROX. Mizuho began coverage on Tronox in a research note on Friday, June 7th. They issued a “neutral” rating and a $22.00 price objective for the company. UBS Group lowered their price objective on Tronox from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. The Goldman Sachs Group lowered their price objective on Tronox from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday. StockNews.com raised Tronox from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Barclays decreased their target price on shares of Tronox from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Tronox presently has a consensus rating of “Hold” and a consensus target price of $18.67.

Tronox Stock Performance

NYSE:TROX opened at $12.37 on Friday. The company has a market capitalization of $1.95 billion, a PE ratio of -5.55, a P/E/G ratio of 24.16 and a beta of 1.64. The company has a 50 day simple moving average of $14.75 and a two-hundred day simple moving average of $16.55. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.08 and a current ratio of 2.98. Tronox Holdings plc has a fifty-two week low of $10.08 and a fifty-two week high of $20.70.

Tronox (NYSE:TROX) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.11). The company had revenue of $820.00 million for the quarter, compared to analyst estimates of $848.04 million. Tronox had a negative return on equity of 3.40% and a negative net margin of 2.14%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.16 EPS. Research analysts anticipate that Tronox Holdings plc will post 0.44 earnings per share for the current year.

Tronox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, August 26th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, August 26th. Tronox’s dividend payout ratio (DPR) is -22.42%.

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.