Franklin Resources Inc. Reduces Holdings in Tronox Holdings plc (NYSE:TROX)

Franklin Resources Inc. lessened its holdings in Tronox Holdings plc (NYSE:TROX) by 47.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,849,305 shares of the company’s stock after selling 2,587,205 shares during the period. Franklin Resources Inc. owned 1.80% of Tronox worth $40,945,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of TROX. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Tronox by 4.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 25,065 shares of the company’s stock worth $393,000 after buying an additional 1,014 shares in the last quarter. Raymond James & Associates purchased a new stake in Tronox in the 2nd quarter worth approximately $1,360,000. Van Lanschot Kempen Investment Management N.V. lifted its stake in shares of Tronox by 2.9% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,426,486 shares of the company’s stock worth $38,072,000 after purchasing an additional 68,155 shares during the period. Hantz Financial Services Inc. purchased a new position in shares of Tronox during the 2nd quarter worth $2,717,000. Finally, nVerses Capital LLC acquired a new stake in shares of Tronox during the second quarter worth $121,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Tronox Trading Down 2.6 %

NYSE TROX opened at $10.13 on Wednesday. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -21.13 and a beta of 1.59. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.90 and a current ratio of 2.72. Tronox Holdings plc has a one year low of $9.99 and a one year high of $20.70. The company’s 50 day moving average price is $12.35 and its 200 day moving average price is $14.25.

Tronox (NYSE:TROX) last issued its earnings results on Thursday, October 24th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. The business had revenue of $804.00 million during the quarter, compared to analysts’ expectations of $790.63 million. During the same period in the prior year, the business posted ($0.08) EPS. The business’s revenue was up 21.5% on a year-over-year basis. On average, sell-side analysts predict that Tronox Holdings plc will post -0.04 EPS for the current year.

Tronox Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 11th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date was Friday, November 8th. Tronox’s dividend payout ratio is presently -104.17%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Barclays reduced their target price on Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. UBS Group raised shares of Tronox from a “neutral” rating to a “buy” rating and raised their target price for the stock from $17.00 to $19.00 in a research report on Thursday, October 10th. The Goldman Sachs Group dropped their price target on shares of Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Finally, BMO Capital Markets cut their price target on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

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.