Huntsman Co. (NYSE:HUN) was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 4,689 put options on the stock. This represents an increase of 1,417% compared to the typical daily volume of 309 put options.
Several research firms have commented on HUN. ValuEngine downgraded shares of Huntsman from a “buy” rating to a “hold” rating in a report on Tuesday, April 24th. Citigroup decreased their price objective on shares of Huntsman from $43.00 to $42.50 and set a “buy” rating on the stock in a report on Tuesday, April 10th. UBS Group upped their price objective on shares of Huntsman from $41.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, May 29th. Zacks Investment Research upgraded shares of Huntsman from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Wednesday, April 25th. Finally, MED reiterated a “buy” rating and issued a $40.00 price objective on shares of Huntsman in a report on Tuesday, May 1st. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $36.81.
Shares of Huntsman opened at $29.26 on Thursday, Marketbeat.com reports. The stock has a market capitalization of $7.18 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 1.14 and a beta of 2.73. Huntsman has a 52-week low of $24.51 and a 52-week high of $36.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.94 and a quick ratio of 1.58.
Huntsman (NYSE:HUN) last announced its earnings results on Tuesday, May 1st. The basic materials company reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.19. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Huntsman had a net margin of 8.98% and a return on equity of 27.32%. Huntsman’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 earnings per share. analysts anticipate that Huntsman will post 3.2 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be given a $0.1625 dividend. The ex-dividend date is Thursday, June 14th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 2.22%. Huntsman’s payout ratio is presently 26.21%.
Huntsman announced that its Board of Directors has initiated a share buyback plan on Wednesday, May 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the basic materials company to reacquire up to 13.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
In other Huntsman news, VP J Kimo Esplin sold 16,106 shares of the company’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $32.69, for a total value of $526,505.14. Following the transaction, the vice president now directly owns 393,973 shares in the company, valued at $12,878,977.37. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.90% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Huntsman by 16.8% in the first quarter. BlackRock Inc. now owns 13,634,802 shares of the basic materials company’s stock valued at $398,821,000 after acquiring an additional 1,963,605 shares during the period. LSV Asset Management lifted its position in Huntsman by 3.9% during the first quarter. LSV Asset Management now owns 10,326,792 shares of the basic materials company’s stock worth $302,058,000 after purchasing an additional 387,069 shares during the period. Iridian Asset Management LLC CT lifted its position in Huntsman by 16.4% during the first quarter. Iridian Asset Management LLC CT now owns 7,178,631 shares of the basic materials company’s stock worth $209,975,000 after purchasing an additional 1,010,814 shares during the period. Millennium Management LLC lifted its position in Huntsman by 766.0% during the fourth quarter. Millennium Management LLC now owns 6,494,754 shares of the basic materials company’s stock worth $216,210,000 after purchasing an additional 5,744,820 shares during the period. Finally, Two Sigma Investments LP lifted its position in Huntsman by 254.8% during the fourth quarter. Two Sigma Investments LP now owns 3,534,199 shares of the basic materials company’s stock worth $117,653,000 after purchasing an additional 2,537,977 shares during the period. 79.08% of the stock is owned by institutional investors.
Huntsman Corporation, through its subsidiary, Huntsman International LLC, manufactures and sells differentiated organic chemical products worldwide. The company operates in four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.
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