Tronox Target of Unusually High Options Trading (TROX)

Tronox Ltd (NYSE:TROX) was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 10,992 call options on the stock. This represents an increase of 2,662% compared to the average daily volume of 398 call options.

TROX opened at $10.56 on Wednesday. The company has a debt-to-equity ratio of 3.58, a quick ratio of 6.15 and a current ratio of 7.53. Tronox has a twelve month low of $6.46 and a twelve month high of $21.68. The stock has a market capitalization of $1.10 billion, a PE ratio of -39.11 and a beta of 2.87.

Several research firms have recently weighed in on TROX. Alembic Global Advisors set a $35.00 target price on shares of Tronox and gave the stock a “buy” rating in a report on Monday, October 29th. UBS Group set a $10.00 target price on shares of Tronox and gave the stock a “sell” rating in a report on Thursday, December 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.88.

In other Tronox news, SVP Niekerk Willem Hendrik Van purchased 3,800 shares of the stock in a transaction on Friday, December 7th. The shares were purchased at an average price of $7.44 per share, with a total value of $28,272.00. Following the acquisition, the senior vice president now directly owns 189,508 shares of the company’s stock, valued at approximately $1,409,939.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Timothy C. Carlson purchased 21,000 shares of the stock in a transaction on Tuesday, December 11th. The stock was acquired at an average cost of $7.15 per share, for a total transaction of $150,150.00. Following the acquisition, the chief financial officer now directly owns 104,021 shares in the company, valued at $743,750.15. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 49,800 shares of company stock valued at $358,672. Corporate insiders own 1.20% of the company’s stock.

A number of large investors have recently modified their holdings of TROX. Vanguard Group Inc lifted its position in Tronox by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 8,318,340 shares of the company’s stock valued at $99,404,000 after purchasing an additional 27,035 shares during the period. Marshall Wace LLP acquired a new position in Tronox during the 3rd quarter valued at about $2,435,000. Legal & General Group Plc lifted its position in 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 purchasing an additional 2,998 shares during the period. Nordea Investment Management AB acquired a new position in Tronox during the 3rd quarter valued at about $3,727,000. Finally, Assenagon Asset Management S.A. acquired a new position in Tronox during the 4th quarter valued at about $1,114,000. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

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About Tronox

Tronox Limited produces and markets titanium bearing mineral sands and titanium dioxide (TiO2) pigment in North America, Europe, South Africa, and the Asia-Pacific region. The company engages in the exploration, mining, and beneficiation of mineral sands deposits. It also produces titanium feedstock, including chloride slag, slag fines, rutile, synthetic rutile, leucoxene, titanium slag, and ilmenite, as well as pig iron and zircon; and suplies and markets TiO2 under the TRONOX brand name, which is used in the manufacture of paint and other coatings, and plastics and paper, as well as in various other applications comprising inks, fibers, rubber, food, cosmetics, and pharmaceuticals.

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