Huntsman Corporation (NYSE:HUN) posted its earnings results on Friday. The basic materials company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.17, Bloomberg Earnings reports. Huntsman Corporation had a return on equity of 30.04% and a net margin of 4.33%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period last year, the company earned $0.38 earnings per share. The business’s revenue was up 18.5% compared to the same quarter last year.
Shares of Huntsman Corporation (NYSE HUN) traded up 4.23% on Friday, hitting $31.06. The stock had a trading volume of 14,067,626 shares. The firm has a market capitalization of $7.46 billion, a P/E ratio of 17.61 and a beta of 2.79. Huntsman Corporation has a 12-month low of $16.25 and a 12-month high of $31.16. The company has a 50 day moving average of $27.93 and a 200-day moving average of $26.10.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Thursday, September 14th. Huntsman Corporation’s payout ratio is currently 28.41%.
HUN has been the topic of several research reports. SunTrust Banks, Inc. restated a “buy” rating and set a $32.00 price target on shares of Huntsman Corporation in a research note on Friday. BidaskClub lowered Huntsman Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Instinet restated a “buy” rating and set a $34.00 price target (up from $30.00) on shares of Huntsman Corporation in a research note on Wednesday, September 20th. Zacks Investment Research upgraded Huntsman Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, KeyCorp upgraded Huntsman Corporation from a “sector weight” rating to an “overweight” rating and set a $34.00 price target on the stock in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $30.73.
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A number of large investors have recently made changes to their positions in HUN. BlackRock Inc. increased its stake in Huntsman Corporation by 12,556.8% in the first quarter. BlackRock Inc. now owns 10,242,161 shares of the basic materials company’s stock valued at $251,343,000 after acquiring an additional 10,161,239 shares during the last quarter. CNH Partners LLC acquired a new stake in Huntsman Corporation in the second quarter valued at approximately $173,105,000. Farallon Capital Management LLC acquired a new stake in Huntsman Corporation in the second quarter valued at approximately $140,053,000. Principal Financial Group Inc. boosted its position in Huntsman Corporation by 119.2% in the second quarter. Principal Financial Group Inc. now owns 4,809,158 shares of the basic materials company’s stock valued at $124,269,000 after buying an additional 2,615,454 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Huntsman Corporation by 90.4% in the second quarter. JPMorgan Chase & Co. now owns 5,391,025 shares of the basic materials company’s stock valued at $139,304,000 after buying an additional 2,559,069 shares in the last quarter. 75.01% of the stock is currently owned by institutional investors and hedge funds.
About Huntsman Corporation
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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