Zurcher Kantonalbank Zurich Cantonalbank raised its position in Tronox Ltd (NYSE:TROX) by 26.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,882 shares of the company’s stock after acquiring an additional 1,244 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tronox were worth $75,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Optimum Investment Advisors acquired a new position in Tronox in the 1st quarter valued at about $39,000. Quantamental Technologies LLC acquired a new position in Tronox in the 1st quarter valued at about $64,000. Daiwa Securities Group Inc. acquired a new position in Tronox in the 1st quarter valued at about $92,000. FNY Investment Advisers LLC purchased a new position in shares of Tronox in the 2nd quarter valued at about $108,000. Finally, SG Americas Securities LLC purchased a new position in shares of Tronox in the 2nd quarter valued at about $167,000. 59.24% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on TROX shares. Morgan Stanley set a $15.00 price objective on Tronox and gave the company a “hold” rating in a research note on Wednesday, June 19th. ValuEngine cut Tronox from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Alembic Global Advisors set a $19.00 price objective on Tronox and gave the company a “buy” rating in a research note on Friday, May 10th. Zacks Investment Research cut Tronox from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, BMO Capital Markets set a $18.00 price objective on Tronox and gave the company a “buy” rating in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $14.86.
TROX stock traded down $0.03 during trading on Thursday, hitting $7.73. 34,443 shares of the company’s stock were exchanged, compared to its average volume of 1,534,872. The business has a 50-day moving average price of $10.53 and a two-hundred day moving average price of $11.61. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 13.79 and a beta of 3.29. Tronox Ltd has a 52-week low of $6.46 and a 52-week high of $16.75. The company has a current ratio of 3.15, a quick ratio of 1.62 and a debt-to-equity ratio of 3.44.
Tronox (NYSE:TROX) last posted its earnings results on Tuesday, August 6th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.17. The firm had revenue of $791.00 million during the quarter, compared to analysts’ expectations of $776.00 million. Tronox had a positive return on equity of 5.37% and a negative net margin of 4.60%. The firm’s revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, equities research analysts anticipate that Tronox Ltd will post 0.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 2.33%. The ex-dividend date is Friday, August 30th. Tronox’s payout ratio is 32.14%.
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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