Commonwealth Bank of Australia Acquires New Holdings in Tronox Ltd (TROX)

Commonwealth Bank of Australia acquired a new stake in shares of Tronox Ltd (OTCMKTS:TROX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 10,400 shares of the basic materials company’s stock, valued at approximately $124,000.

Several other institutional investors and hedge funds have also modified their holdings of TROX. Oppenheimer Asset Management Inc. purchased a new stake in shares of Tronox during the 3rd quarter valued at $121,000. Quantum Capital Management purchased a new position in Tronox in the 2nd quarter worth $201,000. Bbva Compass Bancshares Inc. raised its stake in Tronox by 62.0% in the 3rd quarter. Bbva Compass Bancshares Inc. now owns 23,392 shares of the basic materials company’s stock worth $280,000 after acquiring an additional 8,953 shares during the last quarter. Jane Street Group LLC raised its stake in Tronox by 215.2% in the 2nd quarter. Jane Street Group LLC now owns 18,191 shares of the basic materials company’s stock worth $358,000 after acquiring an additional 33,975 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in Tronox in the 2nd quarter worth $425,000.

OTCMKTS TROX opened at $10.58 on Monday. Tronox Ltd has a fifty-two week low of $9.97 and a fifty-two week high of $27.09.

Tronox (OTCMKTS:TROX) last released its quarterly earnings data on Monday, November 5th. The basic materials company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.03. The company had revenue of $456.00 million for the quarter, compared to analysts’ expectations of $456.91 million. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Monday, November 26th will be paid a dividend of $0.045 per share. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.70%.

A number of equities analysts recently issued reports on TROX shares. BMO Capital Markets reduced their target price on Tronox from $31.00 to $28.00 and set an “outperform” rating for the company in a research note on Tuesday, August 7th. Alembic Global Advisors set a $35.00 target price on Tronox and gave the stock a “buy” rating in a research note on Monday, October 29th. Zacks Investment Research upgraded Tronox from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Barclays reduced their target price on Tronox to $24.00 and set an “overweight” rating for the company in a research note on Monday, August 6th. Finally, Morgan Stanley set a $16.00 price objective on Tronox and gave the company a “hold” rating in a research note on Tuesday, September 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. Tronox has an average rating of “Buy” and an average price target of $23.60.

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Tronox Company Profile

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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Institutional Ownership by Quarter for Tronox (OTCMKTS:TROX)

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