Koch Industries Inc. purchased a new position in shares of Huntsman Co. (NYSE:HUN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,206 shares of the basic materials company’s stock, valued at approximately $240,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec purchased a new position in Huntsman during the 4th quarter worth approximately $36,486,000. ETRADE Capital Management LLC purchased a new position in Huntsman during the 4th quarter worth approximately $596,000. MML Investors Services LLC purchased a new position in Huntsman during the 4th quarter worth approximately $208,000. Amundi Pioneer Asset Management Inc. purchased a new position in Huntsman during the 4th quarter worth approximately $2,047,000. Finally, AXA grew its stake in Huntsman by 104.0% during the 4th quarter. AXA now owns 602,500 shares of the basic materials company’s stock worth $20,057,000 after buying an additional 307,200 shares during the last quarter. Hedge funds and other institutional investors own 75.95% of the company’s stock.
Shares of HUN traded down $1.00 during mid-day trading on Friday, hitting $28.33. The company’s stock had a trading volume of 2,561,003 shares, compared to its average volume of 3,073,740. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.83 and a quick ratio of 1.50. The stock has a market capitalization of $7,089.61, a P/E ratio of 11.42, a P/E/G ratio of 1.29 and a beta of 2.72. Huntsman Co. has a 1-year low of $23.12 and a 1-year high of $36.09.
Huntsman (NYSE:HUN) last posted its quarterly earnings results on Friday, February 23rd. The basic materials company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.66 by $0.10. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Huntsman had a return on equity of 29.30% and a net margin of 6.73%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. research analysts anticipate that Huntsman Co. will post 2.77 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Thursday, March 15th were issued a $0.1625 dividend. This is a boost from Huntsman’s previous quarterly dividend of $0.13. This represents a $0.65 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Wednesday, March 14th. Huntsman’s dividend payout ratio (DPR) is currently 26.21%.
Huntsman announced that its board has approved a stock repurchase plan on Friday, February 23rd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the basic materials company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of research firms recently issued reports on HUN. KeyCorp raised their price target on Huntsman from $37.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. ValuEngine cut Huntsman from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 17th. Nomura cut Huntsman from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $40.00 to $36.00 in a research report on Tuesday, March 20th. JPMorgan Chase assumed coverage on Huntsman in a research report on Wednesday, December 13th. They set an “overweight” rating and a $36.00 price objective for the company. Finally, 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. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $35.58.
In other news, insider Monte G. Edlund sold 2,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 52,696 shares of the company’s stock, valued at approximately $1,127,694.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 19.00% of the stock is owned by company insiders.
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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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