Venator Materials (VNTR) Trading Down 5.6% Following Insider Selling
Venator Materials PLC (NYSE:VNTR) shares were down 5.6% on Wednesday after an insider sold shares in the company. The stock traded as low as $20.10 and last traded at $20.58. Approximately 3,668,580 shares were traded during trading, an increase of 288% from the average daily volume of 944,970 shares. The stock had previously closed at $21.81.
Specifically, major shareholder Corp Huntsman sold 21,764,800 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $21.66, for a total value of $471,425,568.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Several analysts have recently commented on VNTR shares. Zacks Investment Research downgraded shares of Venator Materials from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 15th. UBS initiated coverage on shares of Venator Materials in a report on Monday, August 28th. They set a “neutral” rating and a $22.00 price target on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $28.00 price target on shares of Venator Materials in a report on Wednesday, October 18th. SunTrust Banks initiated coverage on shares of Venator Materials in a report on Monday, August 28th. They set a “buy” rating and a $25.00 price target on the stock. Finally, Nomura increased their price target on shares of Venator Materials from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Venator Materials currently has an average rating of “Buy” and a consensus price target of $27.33.
The company has a current ratio of 2.03, a quick ratio of 1.25 and a debt-to-equity ratio of 0.74.
Venator Materials (NYSE:VNTR) last announced its quarterly earnings results on Friday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.25. The firm had revenue of $582.00 million for the quarter, compared to analysts’ expectations of $568.31 million. Venator Materials’s revenue was up 9.4% compared to the same quarter last year. analysts predict that Venator Materials PLC will post 2.04 EPS for the current year.
Large investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. acquired a new position in Venator Materials during the third quarter worth $103,000. Jane Street Group LLC acquired a new position in Venator Materials during the third quarter worth $255,000. Bank of New York Mellon Corp acquired a new position in Venator Materials during the third quarter worth $297,000. Russell Investments Group Ltd. acquired a new position in Venator Materials during the third quarter worth $505,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Venator Materials during the third quarter worth $512,000. Institutional investors own 23.20% of the company’s stock.
Venator Materials Company Profile
Venator Materials PLC is a manufacturer and marketer of chemical products. The Company is engaged in manufacturing titanium dioxide (TiO2), functional additives, color pigments, timber treatment and water treatment products. It operates through two segments: Titanium Dioxide and Performance Additives.
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