Bank of New York Mellon Corp raised its stake in Tronox Ltd. (NYSE:TROX) by 8.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 265,072 shares of the company’s stock after buying an additional 21,145 shares during the period. Bank of New York Mellon Corp owned 0.23% of Tronox worth $1,168,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in TROX. Eagle Boston Investment Management Inc. boosted its position in Tronox by 1.1% in the second quarter. Eagle Boston Investment Management Inc. now owns 41,750 shares of the company’s stock worth $184,000 after buying an additional 466 shares during the last quarter. Gargoyle Investment Advisor L.L.C. purchased a new position in Tronox during the second quarter worth approximately $297,000. Kamunting Street Capital Management L.P. purchased a new position in Tronox during the first quarter worth approximately $558,000. Renaissance Technologies LLC purchased a new position in Tronox during the first quarter worth approximately $1,566,000. Finally, Berson & Corrado Investment Advisors LLC boosted its position in Tronox by 16.6% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 1,063,574 shares of the company’s stock worth $4,690,000 after buying an additional 151,045 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.
Tronox Ltd. (NYSE:TROX) traded down 3.65% during mid-day trading on Friday, hitting $7.92. The company’s stock had a trading volume of 279,171 shares. Tronox Ltd. has a 12-month low of $2.79 and a 12-month high of $9.92. The company’s market cap is $920.19 million. The firm’s 50-day moving average is $9.00 and its 200-day moving average is $6.82.
Tronox (NYSE:TROX) last released its earnings results on Wednesday, August 3rd. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by $0.12. The business had revenue of $537 million for the quarter, compared to the consensus estimate of $527.23 million. Tronox had a negative net margin of 13.71% and a negative return on equity of 24.42%. The company’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.70) EPS. Analysts predict that Tronox Ltd. will post ($1.43) EPS for the current fiscal year.
Separately, B. Riley reiterated a “neutral” rating and set a $5.75 price objective on shares of Tronox in a research note on Thursday, August 11th.