Wolf Hill Capital Management LP Decreases Stake in Tronox Holdings PLC $TROX

Wolf Hill Capital Management LP lowered its holdings in Tronox Holdings PLC (NYSE:TROX) by 77.9% in the 4th quarter, Holdings Channel reports. The firm owned 254,652 shares of the company’s stock after selling 899,456 shares during the period. Tronox accounts for 0.1% of Wolf Hill Capital Management LP’s portfolio, making the stock its 21st biggest holding. Wolf Hill Capital Management LP’s holdings in Tronox were worth $1,062,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TROX. PNC Financial Services Group Inc. raised its stake in shares of Tronox by 292.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,715 shares of the company’s stock worth $36,000 after purchasing an additional 6,493 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Tronox in the third quarter worth $37,000. Headlands Technologies LLC purchased a new position in shares of Tronox in the second quarter worth $38,000. Westview Management dba Westview Investment Advisors purchased a new stake in Tronox during the fourth quarter valued at $42,000. Finally, Aigen Investment Management LP purchased a new stake in Tronox during the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Tronox Stock Up 0.2%

Tronox stock opened at $8.04 on Monday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.66 and a current ratio of 2.42. The stock has a fifty day moving average of $8.70 and a 200 day moving average of $7.03. The stock has a market cap of $1.28 billion, a PE ratio of -2.75 and a beta of 0.76. Tronox Holdings PLC has a one year low of $2.86 and a one year high of $10.59.

Tronox (NYSE:TROX) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.07). The company had revenue of $760.00 million during the quarter, compared to analysts’ expectations of $751.38 million. Tronox had a negative return on equity of 19.93% and a negative net margin of 15.82%.The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.15) EPS. As a group, sell-side analysts predict that Tronox Holdings PLC will post -1.17 EPS for the current year.

Tronox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Monday, May 11th will be given a $0.05 dividend. The ex-dividend date is Monday, May 11th. This represents a $0.20 dividend on an annualized basis and a yield of 2.5%. Tronox’s dividend payout ratio is presently -6.85%.

Analyst Ratings Changes

A number of research firms recently commented on TROX. UBS Group upped their price objective on Tronox from $7.50 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Wall Street Zen cut Tronox from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. BMO Capital Markets reiterated a “market perform” rating on shares of Tronox in a research report on Friday, February 20th. Mizuho upped their price objective on Tronox from $4.50 to $5.00 and gave the company an “underperform” rating in a research report on Monday, March 23rd. Finally, Truist Financial upgraded Tronox from a “sell” rating to a “hold” rating and set a $7.00 price objective for the company in a research report on Thursday. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $6.63.

Tronox Company Profile

Tronox Holdings plc is a vertically integrated global producer of titanium dioxide (TiO?) pigment and specialty materials. The company’s operations encompass the full supply chain for TiO?, from mining and processing titanium-bearing ores—such as ilmenite and rutile—to the production of high-purity pigment for use in paints, coatings, plastics, paper and other industrial applications. In addition to TiO?, Tronox’s product portfolio includes zircon, rare earth byproducts and other specialty minerals that serve a range of industrial markets.

Tronox operates a network of mines, processing facilities and pigment plants located across North America, Europe, the Middle East, Australia and South Africa.