Congress Asset Management Co. MA lowered its position in Tronox Ltd (NYSE:TROX) by 9.1% in the third quarter, Holdings Channel reports. The fund owned 473,790 shares of the company’s stock after selling 47,705 shares during the period. Congress Asset Management Co. MA’s holdings in Tronox were worth $3,932,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new position in Tronox in the second quarter worth approximately $43,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Tronox by 26.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,882 shares of the company’s stock worth $75,000 after acquiring an additional 1,244 shares during the last quarter. PARK CIRCLE Co purchased a new position in Tronox in the second quarter worth approximately $96,000. FNY Investment Advisers LLC purchased a new position in Tronox in the second quarter worth approximately $108,000. Finally, SG Americas Securities LLC purchased a new position in Tronox in the second quarter worth approximately $167,000. Institutional investors own 57.78% of the company’s stock.
A number of research firms have weighed in on TROX. TheStreet cut shares of Tronox from a “c-” rating to a “d+” rating in a report on Friday, October 11th. Zacks Investment Research cut shares of Tronox from a “buy” rating to a “hold” rating in a report on Friday, October 18th. BMO Capital Markets set a $18.00 price objective on shares of Tronox and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, ValuEngine raised shares of Tronox from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Tronox has a consensus rating of “Hold” and a consensus target price of $14.64.
In related news, SVP Jeffrey N. Neuman acquired 4,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were bought at an average price of $7.60 per share, with a total value of $30,400.00. Following the completion of the acquisition, the senior vice president now owns 83,510 shares in the company, valued at $634,676. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by company insiders.
TROX stock opened at $10.49 on Thursday. 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 Ltd has a twelve month low of $6.46 and a twelve month high of $15.50. The company’s 50 day moving average is $8.40 and its two-hundred day moving average is $10.17. The stock has a market cap of $1.31 billion, a P/E ratio of 18.73 and a beta of 3.37.
Tronox (NYSE:TROX) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.17. Tronox had a negative net margin of 4.60% and a positive return on equity of 5.37%. The company had revenue of $791.00 million for the quarter, compared to analysts’ expectations of $776.00 million. During the same quarter last year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was up 60.8% on a year-over-year basis. On average, equities research analysts predict that Tronox Ltd will post 0.35 earnings per share for the current year.
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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