Integrated Core Strategies (Us) LLC recently stated that they own a 5.2% stake in Tronox Ltd (OTCMKTS:TROX) in a Form 13G disclosure that was filed with the Securities and Exchange Commission on Friday, April 13th. The investor owns 4,852,644 shares of the stock valued at about $94,626,558. The reporting parties listed on the disclosure included Integrated Core Strategies (US) LLC, Integrated Assets II LLC, ICS Opportunities, Ltd, Integrated Assets, Ltd, Millennium International Management LP, Millennium Management LLC, Millennium Group Management LLC and Israel A Englander. The disclosure is available through Edgar at this hyperlink.
Other large investors have also bought and sold shares of the company. Public Employees Retirement Association of Colorado purchased a new stake in Tronox in the fourth quarter valued at $142,000. Macquarie Group Ltd. purchased a new stake in Tronox in the fourth quarter valued at $211,000. Amalgamated Bank purchased a new stake in Tronox in the fourth quarter valued at $247,000. Ladenburg Thalmann Financial Services Inc. purchased a new stake in Tronox in the fourth quarter valued at $252,000. Finally, Investors Research Corp purchased a new stake in Tronox in the fourth quarter valued at $347,000.
A number of equities research analysts have commented on the company. Barclays lifted their target price on Tronox to $26.00 and gave the company an “overweight” rating in a research report on Monday, March 12th. Morgan Stanley started coverage on Tronox in a report on Tuesday, January 30th. They issued an “equal weight” rating and a $21.00 price objective on the stock. UBS cut their price objective on Tronox from $19.00 to $18.00 and set a “sell” rating on the stock in a report on Friday, March 2nd. Wells Fargo started coverage on Tronox in a report on Wednesday, February 7th. They issued an “outperform” rating and a $28.00 price objective on the stock. Finally, BMO Capital Markets started coverage on Tronox in a report on Tuesday, March 27th. They issued an “outperform” rating and a $24.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Tronox has a consensus rating of “Buy” and an average price target of $24.86.
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 for the quarter, compared to analyst estimates of $428.22 million. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.14) earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Monday, March 12th were given a dividend of $0.045 per share. The ex-dividend date was Friday, March 9th. This represents a $0.18 annualized dividend and a dividend yield of 0.92%.
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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