Primecap Management Co. CA Acquires 53,000 Shares of Tronox Holdings plc (NYSE:TROX)

Primecap Management Co. CA lifted its holdings in Tronox Holdings plc (NYSE:TROX) by 4.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,349,700 shares of the company’s stock after acquiring an additional 53,000 shares during the quarter. Primecap Management Co. CA’s holdings in Tronox were worth $13,591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in Tronox during the third quarter valued at about $459,000. Massachusetts Financial Services Co. MA lifted its position in shares of Tronox by 18.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 831,254 shares of the company’s stock valued at $12,161,000 after buying an additional 126,846 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tronox by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,212,221 shares of the company’s stock valued at $32,365,000 after buying an additional 112,010 shares in the last quarter. Algert Global LLC grew its position in shares of Tronox by 77.0% in the 3rd quarter. Algert Global LLC now owns 546,967 shares of the company’s stock worth $8,002,000 after buying an additional 237,916 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Tronox by 140.1% during the 3rd quarter. Bank of Montreal Can now owns 160,929 shares of the company’s stock worth $2,333,000 after acquiring an additional 93,893 shares in the last quarter. 73.36% of the stock is currently owned by institutional investors.

Tronox Stock Up 2.1 %

Shares of TROX stock opened at $7.43 on Thursday. 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 Holdings plc has a fifty-two week low of $6.64 and a fifty-two week high of $20.70. The firm has a market capitalization of $1.17 billion, a PE ratio of -23.95 and a beta of 1.64. The stock’s 50-day simple moving average is $8.76 and its 200-day simple moving average is $10.96.

Tronox (NYSE:TROX) last posted 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%. Equities analysts expect that Tronox Holdings plc will post 0.49 earnings per share for the current year.

Tronox Announces Dividend

The firm also recently declared 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. This represents a $0.50 annualized dividend and a yield of 6.73%. The ex-dividend date is Monday, March 3rd. Tronox’s payout ratio is -161.29%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TROX shares. UBS Group lowered their target price on shares of Tronox from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Mizuho dropped their target price on Tronox from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. 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. Truist Financial dropped their price target on Tronox from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group decreased their price objective on shares of Tronox from $13.00 to $11.50 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

Insiders Place Their Bets

In related news, Director Stephen J. Jones acquired 30,000 shares of the firm’s stock in a transaction dated 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 acquisition, the director now directly owns 30,000 shares in the company, valued at $215,100. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by insiders.

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.