Bank of America Corp DE lifted its stake in shares of Venator Materials PLC (NYSE:VNTR) by 32.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 371,648 shares of the company’s stock after buying an additional 91,073 shares during the quarter. Bank of America Corp DE owned approximately 0.35% of Venator Materials worth $1,965,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. WINTON GROUP Ltd boosted its holdings in Venator Materials by 4.1% in the second quarter. WINTON GROUP Ltd now owns 71,302 shares of the company’s stock valued at $377,000 after purchasing an additional 2,792 shares in the last quarter. LPL Financial LLC boosted its holdings in Venator Materials by 7.7% in the second quarter. LPL Financial LLC now owns 82,015 shares of the company’s stock valued at $434,000 after purchasing an additional 5,833 shares in the last quarter. M&T Bank Corp boosted its holdings in Venator Materials by 54.1% in the second quarter. M&T Bank Corp now owns 36,216 shares of the company’s stock valued at $191,000 after purchasing an additional 12,709 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Venator Materials by 1,172.1% in the second quarter. Tower Research Capital LLC TRC now owns 14,883 shares of the company’s stock valued at $79,000 after purchasing an additional 13,713 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC boosted its holdings in Venator Materials by 187.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 37,243 shares of the company’s stock valued at $197,000 after purchasing an additional 24,294 shares in the last quarter. 43.22% of the stock is owned by institutional investors and hedge funds.
In related news, insider Kurt Ogden purchased 15,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $2.23 per share, for a total transaction of $33,450.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathy Dawn Patrick purchased 60,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were bought at an average price of $2.69 per share, with a total value of $161,400.00. The disclosure for this purchase can be found here. Insiders bought 130,300 shares of company stock valued at $338,303 over the last three months. Corporate insiders own 0.66% of the company’s stock.
Venator Materials (NYSE:VNTR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.04). The firm had revenue of $578.00 million during the quarter, compared to analyst estimates of $585.27 million. Venator Materials had a negative net margin of 19.42% and a positive return on equity of 9.02%. Venator Materials’s revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 earnings per share. Research analysts predict that Venator Materials PLC will post 0.3 EPS for the current fiscal year.
A number of brokerages recently issued reports on VNTR. UBS Group set a $7.00 price target on Venator Materials and gave the company a “buy” rating in a report on Wednesday, August 7th. ValuEngine raised Venator Materials from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Citigroup downgraded Venator Materials from a “buy” rating to a “neutral” rating and lowered their price target for the company from $7.50 to $4.50 in a report on Friday, July 12th. Zacks Investment Research downgraded Venator Materials from a “hold” rating to a “sell” rating in a report on Saturday, October 5th. Finally, BMO Capital Markets lowered their price target on Venator Materials from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $9.13.
About Venator Materials
Venator Materials PLC manufactures and markets chemical products worldwide. It operates through two segments, Titanium Dioxide and Performance Additives. The Titanium Dioxide segment offers titanium dioxide (TiO2), such as rutile, anatase, and nano TiO2 products for use in coatings, plastics, paper, printing inks, fibers, and food and personal care products.
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