Goldentree Asset Management LP lowered its holdings in Huntsman Co. (NYSE:HUN) by 52.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 294,165 shares of the basic materials company’s stock after selling 320,000 shares during the quarter. Huntsman makes up 1.1% of Goldentree Asset Management LP’s portfolio, making the stock its 17th biggest position. Goldentree Asset Management LP owned 0.12% of Huntsman worth $9,793,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in shares of Huntsman by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,281 shares of the basic materials company’s stock worth $188,000 after acquiring an additional 610 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Huntsman by 19.4% during the 3rd quarter. First Trust Advisors LP now owns 286,479 shares of the basic materials company’s stock worth $7,855,000 after acquiring an additional 46,592 shares in the last quarter. State of Wisconsin Investment Board raised its stake in shares of Huntsman by 1,072.6% during the 3rd quarter. State of Wisconsin Investment Board now owns 469,378 shares of the basic materials company’s stock worth $12,870,000 after acquiring an additional 429,349 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Huntsman by 32.4% during the 3rd quarter. American Century Companies Inc. now owns 1,545,730 shares of the basic materials company’s stock worth $42,384,000 after acquiring an additional 378,093 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Huntsman by 0.8% during the 3rd quarter. Swiss National Bank now owns 340,774 shares of the basic materials company’s stock worth $9,344,000 after acquiring an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 75.95% of the company’s stock.
Several research analysts recently commented on HUN shares. Citigroup boosted their price objective on shares of Huntsman from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Instinet reiterated a “neutral” rating on shares of Huntsman in a research note on Tuesday, March 20th. ValuEngine lowered shares of Huntsman from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 15th. Jefferies Group boosted their price objective on shares of Huntsman to $43.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Finally, Tudor Pickering assumed coverage on shares of Huntsman in a research report on Friday, January 19th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Huntsman currently has a consensus rating of “Buy” and a consensus price target of $35.58.
NYSE:HUN traded down $0.99 during trading hours on Monday, hitting $28.26. 2,571,088 shares of the company were exchanged, compared to its average volume of 2,980,558. The company has a market cap of $7,070.27, a PE ratio of 11.40, a P/E/G ratio of 1.28 and a beta of 2.71. Huntsman Co. has a 52-week low of $23.12 and a 52-week high of $36.09. The company has a current ratio of 1.83, a quick ratio of 1.50 and a debt-to-equity ratio of 0.67.
Huntsman (NYSE:HUN) last released its earnings results on Friday, February 23rd. The basic materials company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.10. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.10 billion. Huntsman had a net margin of 6.73% and a return on equity of 29.30%. Huntsman’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. analysts expect that Huntsman Co. will post 2.77 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Thursday, March 15th were issued a $0.1625 dividend. This is an increase from Huntsman’s previous quarterly dividend of $0.13. This represents a $0.65 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Wednesday, March 14th. Huntsman’s dividend payout ratio is 26.21%.
Huntsman announced that its board has approved a stock repurchase plan on Friday, February 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the basic materials company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Monte G. Edlund sold 2,000 shares of the company’s stock in a transaction on Saturday, February 17th. The shares were sold at an average price of $21.40, for a total value of $42,800.00. Following the sale, the insider now directly owns 52,696 shares of the company’s stock, valued at approximately $1,127,694.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Corp Huntsman sold 1,948,955 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $21.66, for a total transaction of $42,214,365.30. The disclosure for this sale can be found here. 10.90% of the stock is owned by corporate insiders.
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Huntsman Company Profile
Huntsman Corporation is a manufacturer of differentiated organic chemical products and of inorganic chemical products. The Company operates all of its businesses through its subsidiary, Huntsman International LLC (Huntsman International). The Company operates through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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