New York State Common Retirement Fund cut its stake in Tronox Ltd (NYSE:TROX) by 12.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,800 shares of the company’s stock after selling 12,800 shares during the period. New York State Common Retirement Fund owned 0.07% of Tronox worth $714,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its holdings in shares of Tronox by 3,011.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,200 shares of the company’s stock valued at $32,000 after acquiring an additional 4,065 shares in the last quarter. Investors Research Corp raised its holdings in shares of Tronox by 11.0% during the 4th quarter. Investors Research Corp now owns 18,200 shares of the company’s stock valued at $142,000 after buying an additional 1,800 shares in the last quarter. Water Island Capital LLC raised its holdings in shares of Tronox by 110.0% during the 4th quarter. Water Island Capital LLC now owns 31,500 shares of the company’s stock valued at $245,000 after buying an additional 16,500 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Tronox by 8.9% during the 3rd quarter. Legal & General Group Plc now owns 36,860 shares of the company’s stock valued at $440,000 after buying an additional 2,998 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Tronox by 46.6% during the 4th quarter. Rhumbline Advisers now owns 128,596 shares of the company’s stock valued at $1,000,000 after buying an additional 40,888 shares in the last quarter. Institutional investors and hedge funds own 69.26% of the company’s stock.
In related news, Director Ginger M. Jones acquired 20,000 shares of the 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 completion of the purchase, the director now owns 41,303 shares of the company’s stock, valued at $472,919.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.
Tronox (NYSE:TROX) last announced its quarterly earnings data on Wednesday, February 27th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.02). 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 firm’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 EPS. On average, research analysts anticipate that Tronox Ltd will post 1.2 earnings per share for the current year.
A number of equities analysts recently weighed in on the company. BMO Capital Markets set a $19.00 price objective on Tronox and gave the company a “buy” rating in a report on Tuesday, March 19th. SunTrust Banks raised their price target on Tronox from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. ValuEngine upgraded Tronox from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 20th. Zacks Investment Research upgraded Tronox from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Wednesday, March 6th. Finally, Barclays reiterated a “buy” rating and issued a $15.00 price objective on shares of Tronox in a research report on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. Tronox has an average rating of “Hold” and an average price target of $20.00.
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Tronox Company Profile
Tronox Holdings plc engages in the mining, production, and marketing of inorganic minerals and chemicals in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. It mines and processes titanium ore, zircon, and other minerals; and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper, and other everyday products.
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