Tronox Ltd (OTCMKTS:TROX) shares fell 8.3% during trading on Tuesday . The stock traded as low as $9.97 and last traded at $10.01. 991,537 shares traded hands during trading, a decline of 28% from the average session volume of 1,385,151 shares. The stock had previously closed at $10.92.

A number of analysts have weighed in on TROX shares. Morgan Stanley set a $16.00 target price on shares of Tronox and gave the stock a “hold” rating in a research note on Tuesday, September 25th. Zacks Investment Research cut shares of Tronox from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. BMO Capital Markets decreased their target price on shares of Tronox to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 2nd. Finally, Alembic Global Advisors set a $35.00 target price on shares of Tronox and gave the stock a “buy” rating in a research note on Monday, October 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $23.60.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Monday, November 26th will be given a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, November 23rd.

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. grew its position in shares of Tronox by 3.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 149,001 shares of the basic materials company’s stock valued at $1,781,000 after acquiring an additional 5,223 shares during the period. Swiss National Bank grew its position in shares of Tronox by 3.5% during the 3rd quarter. Swiss National Bank now owns 163,900 shares of the basic materials company’s stock valued at $1,959,000 after acquiring an additional 5,600 shares during the period. Bbva Compass Bancshares Inc. grew its position in shares of Tronox by 62.0% during the 3rd quarter. Bbva Compass Bancshares Inc. now owns 23,392 shares of the basic materials company’s stock valued at $280,000 after acquiring an additional 8,953 shares during the period. Aristotle Capital Boston LLC grew its position in shares of Tronox by 11.5% during the 3rd quarter. Aristotle Capital Boston LLC now owns 92,704 shares of the basic materials company’s stock valued at $1,108,000 after acquiring an additional 9,582 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Tronox during the 3rd quarter valued at approximately $121,000.

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Tronox Company Profile (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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