Luminus Management LLC boosted its holdings in shares of Tronox Ltd (OTCMKTS:TROX) by 77.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,204,647 shares of the basic materials company’s stock after purchasing an additional 525,320 shares during the quarter. Luminus Management LLC’s holdings in Tronox were worth $24,707,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of TROX. Public Employees Retirement Association of Colorado purchased a new position in Tronox during the 4th quarter worth approximately $142,000. Amalgamated Bank purchased a new position in shares of Tronox during the 4th quarter valued at approximately $247,000. Investors Research Corp purchased a new position in shares of Tronox during the 4th quarter valued at approximately $347,000. Bourgeon Capital Management LLC purchased a new position in shares of Tronox during the 4th quarter valued at approximately $365,000. Finally, B. Riley Financial Inc. purchased a new position in shares of Tronox during the 4th quarter valued at approximately $506,000.
Several research firms have recently weighed in on TROX. Barclays began coverage on shares of Tronox in a report on Thursday, December 14th. They set an “overweight” rating and a $25.00 target price for the company. Wells Fargo & Co began coverage on shares of Tronox in a report on Wednesday, February 7th. They set an “outperform” rating and a $28.00 target price for the company. Alembic Global Advisors reaffirmed a “buy” rating on shares of Tronox in a report on Monday, December 18th. Morgan Stanley started coverage on shares of Tronox in a report on Tuesday, January 30th. They set an “equal weight” rating and a $21.00 target price for the company. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $23.00 price target on shares of Tronox in a research note on Wednesday, December 6th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The company had revenue of $464.00 million during the quarter, compared to analyst estimates of $428.22 million. During the same period in the prior year, the business posted ($0.14) EPS. Tronox’s revenue was up 31.8% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Monday, March 12th will be paid a $0.045 dividend. The ex-dividend date is Friday, March 9th. This represents a $0.18 dividend on an annualized basis and a yield of 0.90%.
ILLEGAL ACTIVITY NOTICE: This piece was first published by Ticker Report and is the property of of Ticker Report. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://www.tickerreport.com/banking-finance/3257782/luminus-management-llc-acquires-525320-shares-of-tronox-ltd-trox.html.
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.
Want to see what other hedge funds are holding TROX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tronox Ltd (OTCMKTS:TROX).
Receive News & Ratings for Tronox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tronox and related companies with MarketBeat.com's FREE daily email newsletter.