Los Angeles Capital Management & Equity Research Inc. Cuts Holdings in Tronox Ltd (TROX)

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Los Angeles Capital Management & Equity Research Inc. reduced its position in shares of Tronox Ltd (OTCMKTS:TROX) by 11.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,231 shares of the basic materials company’s stock after selling 5,700 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Tronox were worth $831,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Congress Asset Management Co. MA increased its stake in Tronox by 21.6% during the 2nd quarter. Congress Asset Management Co. MA now owns 205,195 shares of the basic materials company’s stock worth $4,038,000 after buying an additional 36,453 shares in the last quarter. Harvest Management LLC purchased a new stake in shares of Tronox in the second quarter valued at approximately $541,000. Bourgeon Capital Management LLC grew its position in shares of Tronox by 34.8% in the second quarter. Bourgeon Capital Management LLC now owns 28,279 shares of the basic materials company’s stock valued at $557,000 after purchasing an additional 7,300 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Tronox in the first quarter valued at approximately $256,000. Finally, Legal & General Group Plc grew its position in shares of Tronox by 64.7% in the first quarter. Legal & General Group Plc now owns 35,919 shares of the basic materials company’s stock valued at $663,000 after purchasing an additional 14,108 shares in the last quarter.

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets dropped their price target on Tronox from $31.00 to $28.00 and set an “outperform” rating for the company in a research report on Tuesday, August 7th. Barclays dropped their price target on Tronox to $24.00 and set an “overweight” rating for the company in a research report on Monday, August 6th. Zacks Investment Research lowered Tronox from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. SunTrust Banks assumed coverage on Tronox in a research report on Tuesday, July 31st. They issued a “buy” rating and a $24.00 price target for the company. Finally, MED restated a “buy” rating and issued a $35.00 price target on shares of Tronox in a research report on Thursday, May 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Tronox currently has an average rating of “Buy” and a consensus price target of $25.60.

In other Tronox news, SVP Jeffrey N. Neuman bought 4,500 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The shares were purchased at an average price of $16.76 per share, with a total value of $75,420.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory Daniel Blue sold 10,000 shares of the stock in a transaction on Monday, August 13th. The shares were sold at an average price of $15.66, for a total value of $156,600.00. Following the completion of the transaction, the director now directly owns 69,795 shares in the company, valued at approximately $1,092,989.70. The disclosure for this sale can be found here.

OTCMKTS:TROX opened at $15.31 on Monday. Tronox Ltd has a 52 week low of $13.50 and a 52 week high of $28.40.

Tronox (OTCMKTS:TROX) last announced its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. The company had revenue of $492.00 million during the quarter, compared to analyst estimates of $497.24 million. The firm’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.16) earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Monday, August 27th will be paid a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Friday, August 24th.

About Tronox

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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