HBK Investments L P lifted its position in shares of Tronox Ltd (OTCMKTS:TROX) by 171.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 383,800 shares of the basic materials company’s stock after buying an additional 242,200 shares during the period. HBK Investments L P owned about 0.32% of Tronox worth $7,872,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado purchased a new position in Tronox in the 4th quarter worth approximately $142,000. Amalgamated Bank purchased a new position in Tronox in the 4th quarter worth approximately $247,000. Investors Research Corp purchased a new position in Tronox in the 4th quarter worth approximately $347,000. Bourgeon Capital Management LLC purchased a new position in Tronox in the 4th quarter worth approximately $365,000. Finally, B. Riley Financial Inc. purchased a new position in Tronox in the 4th quarter worth approximately $506,000.
A number of brokerages have commented on TROX. UBS Group decreased their price target on Tronox from $19.00 to $18.00 and set a “sell” rating on the stock in a research note on Friday, March 2nd. Wells Fargo & Co assumed coverage on Tronox in a research note on Wednesday, February 7th. They set an “outperform” rating and a $28.00 target price on the stock. Alembic Global Advisors reissued a “buy” rating and set a $35.00 target price on shares of Tronox in a research note on Monday, November 20th. JPMorgan Chase & Co. reduced their target price on Tronox to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. Finally, Barclays boosted their target price on Tronox to $26.00 and gave the company an “overweight” rating in a research note on Monday. Two 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’s stock. The stock has an average rating of “Buy” and a consensus price target of $25.00.
Tronox (OTCMKTS:TROX) last released its earnings results on Thursday, March 1st. The basic materials company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.06. The company had revenue of $464.00 million during the quarter, compared to the consensus estimate of $428.22 million. During the same period last year, the firm posted ($0.14) earnings per share. The company’s revenue was up 31.8% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Monday, March 12th will be issued a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, March 9th.
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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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