MML Investors Services LLC purchased a new stake in Huntsman Co. (NYSE:HUN) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 6,256 shares of the basic materials company’s stock, valued at approximately $208,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Huntsman by 2.5% in the 4th quarter. BlackRock Inc. now owns 11,671,197 shares of the basic materials company’s stock valued at $388,534,000 after purchasing an additional 280,753 shares during the last quarter. Iridian Asset Management LLC CT acquired a new position in shares of Huntsman in the 4th quarter valued at $205,327,000. Bank of New York Mellon Corp boosted its holdings in shares of Huntsman by 292.7% in the 4th quarter. Bank of New York Mellon Corp now owns 5,538,830 shares of the basic materials company’s stock valued at $184,387,000 after purchasing an additional 4,128,204 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Huntsman by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,466,615 shares of the basic materials company’s stock valued at $149,566,000 after purchasing an additional 75,590 shares during the last quarter. Finally, OxFORD Asset Management LLP acquired a new position in shares of Huntsman in the 3rd quarter valued at $78,686,000. Institutional investors own 75.95% of the company’s stock.
In related news, insider Monte G. Edlund sold 2,000 shares of Huntsman stock in a transaction on Saturday, February 17th. The shares were sold at an average price of $21.40, for a total transaction of $42,800.00. Following the transaction, the insider now owns 52,696 shares in the company, valued at approximately $1,127,694.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony P. Hankins sold 100,000 shares of Huntsman stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $33.24, for a total transaction of $3,324,000.00. Following the transaction, the chief executive officer now owns 462,615 shares in the company, valued at approximately $15,377,322.60. The disclosure for this sale can be found here. Insiders have sold a total of 2,150,955 shares of company stock worth $48,905,165 in the last 90 days. Company insiders own 19.00% of the company’s stock.
A number of equities analysts have weighed in on HUN shares. Goldman Sachs reiterated a “hold” rating and issued a $36.00 price target on shares of Huntsman in a report on Monday, December 4th. JPMorgan Chase & Co. started coverage on shares of Huntsman in a report on Wednesday, December 13th. They issued an “overweight” rating and a $36.00 price target on the stock. ValuEngine lowered shares of Huntsman from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. Tudor Pickering started coverage on shares of Huntsman in a report on Friday, January 19th. They issued a “buy” rating on the stock. Finally, Jefferies Group lifted their price target on shares of Huntsman to $43.00 and gave the company a “buy” rating in a report on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Huntsman has a consensus rating of “Buy” and an average target price of $35.58.
HUN stock opened at $28.91 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.50 and a debt-to-equity ratio of 0.67. The firm has a market cap of $7,150.04, a price-to-earnings ratio of 11.12, a P/E/G ratio of 1.31 and a beta of 2.71. Huntsman Co. has a 1-year low of $22.02 and a 1-year high of $36.09.
Huntsman (NYSE:HUN) last posted its earnings results on Friday, February 23rd. The basic materials company reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.10. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.10 billion. Huntsman had a net margin of 6.73% and a return on equity of 29.30%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 EPS. research analysts forecast that Huntsman Co. will post 2.74 earnings per share for the current fiscal year.
Huntsman announced that its board has initiated a stock buyback program on Friday, February 23rd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the basic materials company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be issued a dividend of $0.1625 per share. This is a positive change from Huntsman’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.65 annualized dividend and a dividend yield of 2.25%. Huntsman’s payout ratio is presently 25.00%.
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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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