Huntsman Target of Unusually Large Options Trading (NYSE:HUN)

Huntsman Co. (NYSE:HUN) saw unusually large options trading on Thursday. Stock investors purchased 8,972 put options on the company. This represents an increase of approximately 1,482% compared to the average volume of 567 put options.

Shares of NYSE:HUN traded down $1.00 on Friday, reaching $28.33. 2,561,003 shares of the company traded hands, compared to its average volume of 3,073,740. Huntsman has a 52 week low of $23.12 and a 52 week high of $36.09. The stock has a market capitalization of $7,089.61, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 1.29 and a beta of 2.72. The company has a current ratio of 1.83, a quick ratio of 1.50 and a debt-to-equity ratio of 0.67.

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Huntsman (NYSE:HUN) last announced its quarterly earnings data on Friday, February 23rd. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.10. Huntsman had a return on equity of 29.30% and a net margin of 6.73%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period last year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. research analysts predict that Huntsman will post 2.77 EPS for the current year.

Huntsman declared that its Board of Directors has initiated a share buyback plan on Friday, February 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Thursday, March 15th were paid a dividend of $0.1625 per share. This is a boost from Huntsman’s previous quarterly dividend of $0.13. This represents a $0.65 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Wednesday, March 14th. Huntsman’s dividend payout ratio (DPR) is 26.21%.

In related news, insider Monte G. Edlund sold 2,000 shares of the stock in a transaction on Saturday, February 17th. The stock was sold at an average price of $21.40, for a total value of $42,800.00. Following the sale, the insider now owns 52,696 shares in the company, valued at $1,127,694.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 19.00% of the company’s stock.

Several large investors have recently made changes to their positions in HUN. Iridian Asset Management LLC CT bought a new position in shares of Huntsman during the fourth quarter valued at about $205,327,000. Millennium Management LLC grew its stake in shares of Huntsman by 766.0% in 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 last quarter. Bank of New York Mellon Corp grew its stake in shares of Huntsman by 292.7% in the fourth quarter. Bank of New York Mellon Corp now owns 5,538,830 shares of the basic materials company’s stock worth $184,387,000 after purchasing an additional 4,128,204 shares during the last quarter. OxFORD Asset Management LLP bought a new stake in shares of Huntsman in the third quarter worth about $78,686,000. Finally, Two Sigma Investments LP grew its stake in shares of Huntsman by 254.8% in 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 last quarter. 75.95% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on the company. Jefferies Group increased their price objective on Huntsman to $43.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Tudor Pickering assumed coverage on Huntsman in a research report on Friday, January 19th. They issued a “buy” rating on the stock. ValuEngine upgraded Huntsman from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Citigroup raised their price target on Huntsman from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, KeyCorp raised their price target on Huntsman from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $35.58.

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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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