Connor Clark & Lunn Investment Management Ltd. acquired a new position in Tronox Ltd (NYSE:TROX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 142,286 shares of the company’s stock, valued at approximately $1,107,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.12% of Tronox at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in Tronox by 3,011.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,200 shares of the company’s stock worth $32,000 after acquiring an additional 4,065 shares during the last quarter. Investors Research Corp raised its stake in Tronox by 11.0% in the 4th quarter. Investors Research Corp now owns 18,200 shares of the company’s stock worth $142,000 after acquiring an additional 1,800 shares during the last quarter. Windsor Creek Advisors LLC purchased a new position in Tronox in the 4th quarter worth $145,000. Quantum Capital Management raised its stake in Tronox by 28.3% in the 4th quarter. Quantum Capital Management now owns 31,073 shares of the company’s stock worth $242,000 after acquiring an additional 6,861 shares during the last quarter. Finally, Water Island Capital LLC raised its stake in Tronox by 110.0% in the 4th quarter. Water Island Capital LLC now owns 31,500 shares of the company’s stock worth $245,000 after acquiring an additional 16,500 shares during the last quarter. 68.46% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on TROX shares. UBS Group set a $10.00 target price on Tronox and gave the stock a “sell” rating in a research note on Thursday, December 6th. Barclays restated a “buy” rating and issued a $15.00 target price on shares of Tronox in a research note on Wednesday. Alembic Global Advisors restated a “buy” rating on shares of Tronox in a research note on Monday, December 17th. Finally, Zacks Investment Research upgraded Tronox from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $19.75.
In related news, Director Ginger M. Jones acquired 20,000 shares of Tronox stock in a transaction on Wednesday, March 6th. The stock was acquired at an average price of $11.45 per share, for a total transaction of $229,000.00. Following the purchase, the director now owns 41,303 shares of the company’s stock, valued at approximately $472,919.35. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.
NYSE TROX opened at $11.87 on Friday. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 21.20 and a beta of 3.00. Tronox Ltd has a fifty-two week low of $6.46 and a fifty-two week high of $21.04. The company has a quick ratio of 6.88, a current ratio of 8.48 and a debt-to-equity ratio of 3.64.
Tronox (NYSE:TROX) last released its quarterly earnings data on Wednesday, February 27th. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). The company had revenue of $429.00 million for the quarter, compared to analysts’ expectations of $423.07 million. Tronox had a negative net margin of 0.38% and a positive return on equity of 7.52%. The business’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 EPS. Analysts forecast that Tronox Ltd will post 0.84 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Monday, March 11th will be paid a dividend of $0.045 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.52%. Tronox’s payout ratio is currently 32.14%.
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Tronox Limited produces and markets titanium bearing mineral sands and titanium dioxide (TiO2) pigment in North America, Europe, South Africa, and the Asia-Pacific region. The company engages in the exploration, mining, and beneficiation of mineral sands deposits. It also produces titanium feedstock, including chloride slag, slag fines, rutile, synthetic rutile, leucoxene, titanium slag, and ilmenite, as well as pig iron and zircon; and suplies and markets TiO2 under the TRONOX brand name, which is used in the manufacture of paint and other coatings, and plastics and paper, as well as in various other applications comprising inks, fibers, rubber, food, cosmetics, and pharmaceuticals.
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