Venator Materials (NYSE:VNTR) posted its earnings results on Friday. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.05), Bloomberg Earnings reports. The company had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $539.36 million. The business’s revenue for the quarter was up 7.5% on a year-over-year basis.
Shares of Venator Materials (VNTR) traded down $1.57 on Friday, reaching $19.55. The company’s stock had a trading volume of 3,194,238 shares, compared to its average volume of 719,573. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.03 and a quick ratio of 1.25. Venator Materials has a 52 week low of $17.85 and a 52 week high of $26.90.
In other Venator Materials news, major shareholder Corp Huntsman sold 21,764,800 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $21.66, for a total value of $471,425,568.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new stake in shares of Venator Materials during the 3rd quarter worth $103,000. QS Investors LLC acquired a new stake in shares of Venator Materials during the 4th quarter worth $110,000. Wells Fargo & Company MN increased its holdings in shares of Venator Materials by 81,257.1% during the 4th quarter. Wells Fargo & Company MN now owns 5,695 shares of the company’s stock worth $126,000 after buying an additional 5,688 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Venator Materials by 9,700.0% during the 4th quarter. Deutsche Bank AG now owns 9,800 shares of the company’s stock worth $216,000 after buying an additional 9,700 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Venator Materials during the 4th quarter worth $248,000. Institutional investors and hedge funds own 27.84% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Goldman Sachs Group lowered Venator Materials from a “buy” rating to a “neutral” rating and set a $27.00 target price on the stock. in a research note on Wednesday, December 6th. Citigroup upped their target price on Venator Materials from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. JPMorgan Chase & Co. upped their target price on Venator Materials from $23.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Morgan Stanley started coverage on Venator Materials in a research note on Tuesday, January 30th. They issued an “equal weight” rating and a $25.00 target price on the stock. Finally, Bank of America boosted their price target on Venator Materials from $23.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $27.31.
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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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