Luminus Management LLC grew its position in Tronox Ltd (OTCMKTS:TROX) by 77.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,204,647 shares of the basic materials company’s stock after acquiring an additional 525,320 shares during the quarter. Luminus Management LLC owned about 1.01% of Tronox worth $24,707,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. HBK Investments L P raised its stake in shares of Tronox by 171.0% in the fourth quarter. HBK Investments L P now owns 383,800 shares of the basic materials company’s stock valued at $7,872,000 after acquiring an additional 242,200 shares during the period. California State Teachers Retirement System raised its stake in shares of Tronox by 33.0% in the fourth quarter. California State Teachers Retirement System now owns 141,747 shares of the basic materials company’s stock valued at $2,907,000 after acquiring an additional 35,156 shares during the period. Two Sigma Advisers LP raised its stake in shares of Tronox by 841.2% in the fourth quarter. Two Sigma Advisers LP now owns 254,229 shares of the basic materials company’s stock valued at $5,214,000 after acquiring an additional 227,218 shares during the period. QS Investors LLC raised its stake in shares of Tronox by 9,984.4% in the fourth quarter. QS Investors LLC now owns 54,153 shares of the basic materials company’s stock valued at $1,111,000 after acquiring an additional 53,616 shares during the period. Finally, Deutsche Bank AG grew its holdings in shares of Tronox by 16.5% in the fourth quarter. Deutsche Bank AG now owns 634,121 shares of the basic materials company’s stock worth $13,003,000 after purchasing an additional 89,587 shares during the last quarter.
A number of research analysts have recently commented on TROX shares. Zacks Investment Research cut shares of Tronox from a “hold” rating to a “strong sell” rating in a report on Thursday, January 11th. UBS Group cut their price target on shares of Tronox from $19.00 to $18.00 and set a “sell” rating on the stock in a report on Friday, March 2nd. JPMorgan Chase & Co. cut their price target on shares of Tronox to $22.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Morgan Stanley started coverage on shares of Tronox in a report on Tuesday, January 30th. They issued an “equal weight” rating and a $21.00 price target on the stock. Finally, Alembic Global Advisors restated a “buy” rating and issued a $35.00 price target on shares of Tronox in a report on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $24.83.
Tronox (OTCMKTS:TROX) last released its quarterly earnings results on Thursday, March 1st. The basic materials company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $464.00 million during the quarter, compared to the consensus estimate of $428.22 million. During the same quarter in the prior year, the business posted ($0.14) earnings per share. The firm’s quarterly revenue was up 31.8% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Monday, March 12th will be given a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, March 9th.
Tronox Limited is engaged in production and marketing of titanium bearing mineral sands and titanium dioxide pigment (TiO2). The Company’s TiO2 products are critical components of everyday applications, such as coatings, plastics, paper and other applications. The Company’s mineral sands business consists primarily of two product streams: titanium feedstock and zircon.
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