Mirae Asset Global Investments Co. Ltd. Acquires 1,315 Shares of Tronox Holdings plc (NYSE:TROX)

Posted by on Jun 1st, 2023

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Tronox Holdings plc (NYSE:TROX – Get Rating) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,293 shares of the company’s stock after purchasing an additional 1,315 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Tronox were worth $690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of TROX. Panagora Asset Management Inc. bought a new position in shares of Tronox during the 1st quarter valued at $674,000. BlackRock Inc. raised its holdings in shares of Tronox by 4.3% during the 1st quarter. BlackRock Inc. now owns 8,141,779 shares of the company’s stock valued at $161,127,000 after purchasing an additional 336,103 shares in the last quarter. Sei Investments Co. raised its holdings in Tronox by 5.8% in the 1st quarter. Sei Investments Co. now owns 214,329 shares of the company’s stock worth $4,278,000 after acquiring an additional 11,667 shares during the period. Allianz Asset Management GmbH raised its holdings in Tronox by 1,124.3% in the 1st quarter. Allianz Asset Management GmbH now owns 237,995 shares of the company’s stock worth $4,710,000 after acquiring an additional 218,556 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Tronox by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 11,688,618 shares of the company’s stock worth $231,318,000 after acquiring an additional 401,480 shares during the period. Institutional investors own 67.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TROX shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Tronox from $18.00 to $17.00 in a report on Tuesday, May 2nd. Credit Suisse Group reiterated an “underperform” rating and issued a $10.00 target price on shares of Tronox in a report on Thursday, February 16th. Finally, StockNews.com started coverage on shares of Tronox in a report on Thursday, May 18th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $16.75.

Insider Activity

In other news, CEO Jean Francois Turgeon sold 93,942 shares of Tronox stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $15.51, for a total transaction of $1,457,040.42. Following the sale, the chief executive officer now directly owns 756,732 shares in the company, valued at approximately $11,736,913.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Jean Francois Turgeon sold 93,942 shares of Tronox stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $15.51, for a total transaction of $1,457,040.42. Following the sale, the chief executive officer now directly owns 756,732 shares in the company, valued at approximately $11,736,913.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan Flood sold 29,356 shares of Tronox stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $15.51, for a total transaction of $455,311.56. Following the sale, the insider now owns 22,991 shares in the company, valued at $356,590.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,487 shares of company stock worth $3,032,725. Corporate insiders own 1.60% of the company’s stock.

Tronox Stock Performance

NYSE:TROX opened at $10.64 on Thursday. The firm’s 50-day moving average is $12.88 and its 200-day moving average is $14.24. Tronox Holdings plc has a 52-week low of $10.58 and a 52-week high of $19.91. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.73 and a current ratio of 2.21. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 3.33, a PEG ratio of 0.89 and a beta of 1.88.

Tronox (NYSE:TROX – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. Tronox had a net margin of 15.77% and a return on equity of 10.12%. The company had revenue of $708.00 million for the quarter, compared to the consensus estimate of $683.96 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The business’s revenue was down 26.6% compared to the same quarter last year. Equities research analysts anticipate that Tronox Holdings plc will post 1.42 earnings per share for the current year.

Tronox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Monday, May 15th will be given a dividend of $0.125 per share. The ex-dividend date is Friday, May 12th. This represents a $0.50 annualized dividend and a dividend yield of 4.70%. Tronox’s dividend payout ratio (DPR) is currently 15.63%.

Tronox Profile

(Get Rating)

Tronox Holdings Plc engages in the mining and inorganic chemical business. Its products include Titanium Dioxide Mineral Sands. The firm also mines and processes titanium ore, zircon and other minerals, and manufactures titanium dioxide pigments. The company was founded in 2006 and is headquartered in Stamford, CT.

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Institutional Ownership by Quarter for Tronox (NYSE:TROX)

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