NJ State Employees Deferred Compensation Plan lifted its holdings in shares of Venator Materials PLC (NYSE:VNTR) by 21.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,000 shares of the company’s stock after acquiring an additional 8,000 shares during the quarter. NJ State Employees Deferred Compensation Plan’s holdings in Venator Materials were worth $414,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. PNC Financial Services Group Inc. purchased a new stake in Venator Materials in the first quarter worth $174,000. Legal & General Group Plc purchased a new stake in Venator Materials in the first quarter worth $192,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Venator Materials in the second quarter worth $215,000. Verition Fund Management LLC purchased a new stake in Venator Materials in the first quarter worth $251,000. Finally, Barclays PLC increased its position in Venator Materials by 330.3% in the first quarter. Barclays PLC now owns 21,492 shares of the company’s stock worth $390,000 after buying an additional 16,497 shares during the last quarter. 39.66% of the stock is owned by institutional investors.
A number of analysts have issued reports on the company. BMO Capital Markets decreased their target price on Venator Materials from $17.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday, September 26th. UBS Group cut Venator Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Morgan Stanley reduced their price target on Venator Materials from $17.50 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, September 25th. JPMorgan Chase & Co. cut Venator Materials from an “overweight” rating to a “neutral” rating and set a $29.00 price target for the company. in a research report on Friday, September 21st. Finally, Nomura reduced their price target on Venator Materials from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, September 13th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $23.11.
Shares of NYSE VNTR opened at $9.29 on Thursday. The firm has a market capitalization of $957.60 million, a PE ratio of 5.37, a P/E/G ratio of 0.44 and a beta of 1.07. Venator Materials PLC has a fifty-two week low of $8.50 and a fifty-two week high of $26.90. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.32 and a quick ratio of 1.49.
Venator Materials (NYSE:VNTR) last posted its quarterly earnings data on Tuesday, July 31st. The company reported $0.85 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.85. The company had revenue of $626.00 million during the quarter, compared to analyst estimates of $666.44 million. Venator Materials had a return on equity of 27.45% and a net margin of 16.67%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts predict that Venator Materials PLC will post 2.33 earnings per share for the current year.
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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