Insider Selling: Venator Materials PLC (VNTR) Major Shareholder Sells $471,425,568.00 in Stock
Venator Materials PLC (NYSE:VNTR) major shareholder Corp Huntsman sold 21,764,800 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Venator Materials PLC (VNTR) opened at $20.87 on Friday. 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 PLC has a 12 month low of $17.85 and a 12 month high of $26.90.
Venator Materials (NYSE:VNTR) last posted its quarterly earnings data on Friday, October 27th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.45 by $0.25. The company had revenue of $582.00 million during the quarter, compared to the consensus estimate of $568.31 million. The firm’s quarterly 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.
Hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Advisors LP purchased a new stake in shares of Venator Materials during the third quarter worth about $1,863,000. Jennison Associates LLC purchased a new stake in shares of Venator Materials during the third quarter worth about $47,734,000. Victory Capital Management Inc. purchased a new stake in shares of Venator Materials during the third quarter worth about $33,036,000. Macquarie Group Ltd. purchased a new stake in shares of Venator Materials during the third quarter worth about $40,841,000. Finally, Sei Investments Co. purchased a new stake in shares of Venator Materials during the third quarter worth about $2,854,000. 23.20% of the stock is currently owned by hedge funds and other institutional investors.
VNTR has been the topic of a number of recent research reports. Zacks Investment Research raised Venator Materials from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Thursday, October 26th. Bank of America increased their target price on Venator Materials from $23.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Instinet reissued a “buy” rating and issued a $26.00 target price (up previously from $24.00) on shares of Venator Materials in a report on Friday, October 13th. Goldman Sachs Group initiated coverage on Venator Materials in a report on Monday, August 28th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, UBS initiated coverage on Venator Materials in a report on Monday, August 28th. They issued a “neutral” rating and a $22.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $27.47.
About Venator Materials
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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