Tronox (TROX) Sees Large Volume Increase

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Tronox Ltd (OTCMKTS:TROX) saw an uptick in trading volume on Wednesday . 4,373,430 shares traded hands during trading, an increase of 236% from the previous session’s volume of 1,301,465 shares.The stock last traded at $16.12 and had previously closed at $15.55.

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

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Shareholders of record on Monday, August 27th will be issued a $0.045 dividend. The ex-dividend date of this dividend is Friday, August 24th. This represents a $0.18 dividend on an annualized basis and a yield of 1.17%.

In related news, CEO Jeffry N. Quinn purchased 12,000 shares of Tronox stock in a transaction dated Friday, August 3rd. The stock was purchased at an average cost of $16.97 per share, for a total transaction of $203,640.00. Following the completion of the acquisition, the chief executive officer now directly owns 171,931 shares of the company’s stock, valued at $2,917,669.07. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jeffrey N. Neuman purchased 4,500 shares of Tronox stock in a transaction dated Friday, August 3rd. The shares were bought at an average price of $16.76 per share, with a total value of $75,420.00. The disclosure for this purchase can be found here.

Several large investors have recently modified their holdings of TROX. SG Americas Securities LLC purchased a new stake in shares of Tronox during the first quarter valued at $185,000. Quantum Capital Management purchased a new stake in shares of Tronox during the second quarter valued at $201,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Tronox during the first quarter valued at $206,000. Verition Fund Management LLC purchased a new stake in shares of Tronox during the first quarter valued at $215,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Tronox during the first quarter valued at $256,000.

About Tronox (OTCMKTS:TROX)

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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