Thrivent Financial for Lutherans Acquires 2,616,804 Shares of Tronox Holdings plc (NYSE:TROX)

Thrivent Financial for Lutherans grew its stake in shares of Tronox Holdings plc (NYSE:TROX) by 60.6% in the 4th quarter, HoldingsChannel reports. The fund owned 6,938,289 shares of the company’s stock after purchasing an additional 2,616,804 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Tronox were worth $69,869,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of TROX. Public Employees Retirement System of Ohio acquired a new stake in Tronox during the third quarter worth approximately $66,000. KBC Group NV raised its position in shares of Tronox by 59.4% in the fourth quarter. KBC Group NV now owns 6,949 shares of the company’s stock valued at $70,000 after buying an additional 2,590 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in Tronox by 34.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company’s stock valued at $96,000 after acquiring an additional 1,683 shares during the last quarter. Atria Investments Inc bought a new position in Tronox in the fourth quarter valued at approximately $112,000. Finally, Cibc World Markets Corp bought a new position in Tronox in the fourth quarter valued at approximately $112,000. 73.36% of the stock is currently owned by institutional investors and hedge funds.

Tronox Stock Performance

Tronox stock opened at $7.26 on Wednesday. The firm’s fifty day moving average price is $8.80 and its 200-day moving average price is $10.98. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 2.47. The stock has a market cap of $1.15 billion, a P/E ratio of -23.42 and a beta of 1.64. Tronox Holdings plc has a fifty-two week low of $6.64 and a fifty-two week high of $20.70.

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 the consensus estimate of $0.06 by ($0.03). Tronox had a negative net margin of 1.56% and a negative return on equity of 0.63%. On average, equities research analysts expect that Tronox Holdings plc will post 0.49 earnings per share for the current fiscal year.

Tronox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 3rd will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 6.89%. The ex-dividend date is Monday, March 3rd. Tronox’s dividend payout ratio is currently -161.29%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TROX shares. Mizuho decreased their price objective on shares of Tronox from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Truist Financial reduced their price objective on shares of Tronox from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. UBS Group reduced their price objective on shares of Tronox from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Morgan Stanley dropped their target price on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, The Goldman Sachs Group dropped their target price on shares of Tronox from $13.00 to $11.50 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

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.