Brandywine Global Investment Management LLC cut its position in shares of Huntsman Co. (NYSE:HUN) by 23.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 209,755 shares of the basic materials company’s stock after selling 64,862 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.09% of Huntsman worth $6,983,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Huntsman by 2.5% in the fourth quarter. BlackRock Inc. now owns 11,671,197 shares of the basic materials company’s stock worth $388,534,000 after purchasing an additional 280,753 shares during the last quarter. Iridian Asset Management LLC CT purchased a new stake in Huntsman during the fourth quarter valued at $205,327,000. Bank of New York Mellon Corp increased its position in Huntsman by 292.7% during the fourth 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 acquiring an additional 4,128,204 shares during the last quarter. JPMorgan Chase & Co. increased its position in Huntsman by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 5,466,615 shares of the basic materials company’s stock valued at $149,566,000 after acquiring an additional 75,590 shares during the last quarter. Finally, OxFORD Asset Management LLP purchased a new stake in Huntsman during the third quarter valued at $78,686,000. 75.95% of the stock is currently owned by institutional investors and hedge funds.
NYSE HUN traded down $1.00 during midday trading on Friday, hitting $28.33. 2,561,003 shares of the company traded hands, compared to its average volume of 3,073,740. 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 stock has a market capitalization of $6,847.90, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.24 and a beta of 2.72. Huntsman Co. has a 52 week low of $23.12 and a 52 week high of $36.09.
Huntsman (NYSE:HUN) last posted its quarterly earnings data on Friday, February 23rd. The basic materials company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.10. The firm 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 business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. equities analysts predict that Huntsman Co. will post 2.77 earnings per share for the current fiscal year.
Huntsman declared that its Board of Directors has authorized a stock buyback 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Thursday, March 15th were paid a $0.1625 dividend. This is a positive change from Huntsman’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, March 14th. This represents a $0.65 dividend on an annualized basis and a yield of 2.29%. Huntsman’s dividend payout ratio (DPR) is 26.21%.
In related news, insider Monte G. Edlund sold 2,000 shares of the firm’s 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 completion of the transaction, the insider now owns 52,696 shares in the company, valued at approximately $1,127,694.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 19.00% of the company’s stock.
Several analysts have issued reports on HUN shares. Jefferies Group boosted their price target on Huntsman to $43.00 and gave the company a “buy” rating in a report on Friday, January 26th. Tudor Pickering began coverage on Huntsman in a report on Friday, January 19th. They set a “buy” rating for the company. ValuEngine raised Huntsman from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Citigroup upped their price objective on Huntsman from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, KeyCorp upped their price objective on Huntsman from $37.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price 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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