Iridian Asset Management LLC CT Lowers Stake in Univar Inc. (UNVR)
Iridian Asset Management LLC CT cut its position in shares of Univar Inc. (NYSE:UNVR) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,839,214 shares of the basic materials company’s stock after selling 85,032 shares during the period. Iridian Asset Management LLC CT owned about 4.86% of Univar worth $197,858,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UNVR. Alliancebernstein L.P. increased its position in shares of Univar by 1.2% during the first quarter. Alliancebernstein L.P. now owns 65,278 shares of the basic materials company’s stock valued at $2,001,000 after purchasing an additional 800 shares during the period. Wellington Management Group LLP bought a new stake in shares of Univar during the first quarter valued at approximately $828,000. California Public Employees Retirement System increased its position in shares of Univar by 7.2% during the first quarter. California Public Employees Retirement System now owns 58,000 shares of the basic materials company’s stock valued at $1,778,000 after purchasing an additional 3,900 shares during the period. Legal & General Group Plc increased its position in shares of Univar by 44.8% during the first quarter. Legal & General Group Plc now owns 26,946 shares of the basic materials company’s stock valued at $825,000 after purchasing an additional 8,335 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Univar by 38.7% in the first quarter. Dimensional Fund Advisors LP now owns 581,892 shares of the basic materials company’s stock valued at $17,841,000 after acquiring an additional 162,255 shares during the period. Institutional investors and hedge funds own 95.77% of the company’s stock.
In other Univar news, Director Christopher D. Pappas bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were bought at an average price of $30.84 per share, for a total transaction of $308,400.00. Following the completion of the acquisition, the director now owns 59,840 shares of the company’s stock, valued at $1,845,465.60. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark John Byrne sold 50,391 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $29.73, for a total value of $1,498,124.43. Following the sale, the director now owns 14,494 shares in the company, valued at approximately $430,906.62. The disclosure for this sale can be found here. 1.82% of the stock is currently owned by corporate insiders.
A number of analysts have weighed in on UNVR shares. Credit Suisse Group lowered their price target on Univar from $39.00 to $36.00 and set an “outperform” rating on the stock in a research report on Thursday, August 31st. Zacks Investment Research cut Univar from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Jefferies Group LLC reiterated a “buy” rating and issued a $39.00 price target on shares of Univar in a research report on Friday, September 15th. BidaskClub upgraded Univar from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating on shares of Univar in a research report on Monday, November 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.33.
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Shares of Univar Inc. (UNVR) traded up $0.46 during trading hours on Friday, reaching $29.38. The company’s stock had a trading volume of 879,000 shares, compared to its average volume of 867,405. The company has a quick ratio of 1.21, a current ratio of 1.79 and a debt-to-equity ratio of 2.70. The company has a market capitalization of $4,080.00 and a PE ratio of 24.93. Univar Inc. has a 52-week low of $24.17 and a 52-week high of $33.15.
Univar (NYSE:UNVR) last announced its earnings results on Friday, November 3rd. The basic materials company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.23 by $0.13. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Univar had a return on equity of 17.30% and a net margin of 0.41%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share. equities research analysts forecast that Univar Inc. will post 1.03 earnings per share for the current fiscal year.
Univar Company Profile
Univar Inc is a distributor of commodity and specialty chemicals. The Company operates through four segments: Univar USA (USA); Univar Canada (Canada); Univar Europe and the Middle East and Africa (EMEA), and Rest of World. The Company’s USA segment supplies a range of commodity and specialty chemicals, as well as services to a range of end markets, including manufacturing and industrial production sectors in the United States.
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