Envestnet Asset Management Inc. cut its position in shares of Huntsman Co. (NYSE:HUN) by 16.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,869 shares of the basic materials company’s stock after selling 4,858 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Huntsman were worth $682,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. DSAM Partners London Ltd bought a new position in Huntsman during the 2nd quarter worth approximately $2,128,000. Chicago Equity Partners LLC grew its position in Huntsman by 1,462.7% during the 2nd quarter. Chicago Equity Partners LLC now owns 443,035 shares of the basic materials company’s stock worth $11,448,000 after acquiring an additional 414,685 shares during the last quarter. CIBC World Markets Inc. grew its position in Huntsman by 133.4% during the 2nd quarter. CIBC World Markets Inc. now owns 708,530 shares of the basic materials company’s stock worth $18,308,000 after acquiring an additional 404,905 shares during the last quarter. Royal Bank of Canada grew its position in Huntsman by 58.6% during the 2nd quarter. Royal Bank of Canada now owns 398,112 shares of the basic materials company’s stock worth $10,287,000 after acquiring an additional 147,090 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in Huntsman by 16.4% during the 2nd quarter. Pacer Advisors Inc. now owns 35,389 shares of the basic materials company’s stock worth $914,000 after acquiring an additional 4,982 shares during the last quarter. Hedge funds and other institutional investors own 75.45% of the company’s stock.
Several research firms recently issued reports on HUN. ValuEngine lowered Huntsman from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 15th. JPMorgan Chase & Co. initiated coverage on Huntsman in a report on Wednesday, December 13th. They issued an “overweight” rating and a $36.00 price objective for the company. Goldman Sachs Group reiterated a “hold” rating and issued a $36.00 price objective on shares of Huntsman in a report on Monday, December 4th. Alembic Global Advisors reiterated a “buy” rating on shares of Huntsman in a report on Monday, November 6th. Finally, UBS Group increased their price objective on Huntsman from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $33.00.
In other news, CEO Anthony P. Hankins sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $33.24, for a total value of $3,324,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Corp Huntsman sold 1,948,955 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $21.66, for a total value of $42,214,365.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,210,738 shares of company stock valued at $561,179,159. 19.00% of the stock is currently owned by company insiders.
Huntsman Co. (NYSE:HUN) traded down $0.03 on Friday, hitting $34.56. The stock had a trading volume of 1,401,311 shares, compared to its average volume of 3,190,000. The stock has a market cap of $8,290.00, a PE ratio of 20.09, a PEG ratio of 1.74 and a beta of 2.84. The company has a current ratio of 1.87, a quick ratio of 1.52 and a debt-to-equity ratio of 1.10. Huntsman Co. has a 52 week low of $19.52 and a 52 week high of $35.00.
Huntsman (NYSE:HUN) last released its earnings results on Friday, October 27th. The basic materials company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.17. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Huntsman had a return on equity of 30.64% and a net margin of 5.37%. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 EPS. sell-side analysts predict that Huntsman Co. will post 2.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Thursday, December 14th. Huntsman’s payout ratio is presently 29.07%.
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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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