Renaissance Technologies LLC lifted its position in shares of Huntsman Co. (NYSE:HUN) by 89.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,325,300 shares of the basic materials company’s stock after acquiring an additional 627,000 shares during the period. Renaissance Technologies LLC owned approximately 0.55% of Huntsman worth $44,119,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Huntsman by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,281 shares of the basic materials company’s stock worth $188,000 after acquiring an additional 610 shares during the period. Amalgamated Bank lifted its holdings in shares of Huntsman by 6.0% during the 4th quarter. Amalgamated Bank now owns 39,304 shares of the basic materials company’s stock worth $1,308,000 after acquiring an additional 2,215 shares during the period. Swiss National Bank lifted its stake in Huntsman by 0.8% in the 3rd quarter. Swiss National Bank now owns 340,774 shares of the basic materials company’s stock valued at $9,344,000 after purchasing an additional 2,600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Huntsman by 45.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,473 shares of the basic materials company’s stock valued at $382,000 after purchasing an additional 3,610 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Huntsman by 1,658.4% in the 3rd quarter. Assetmark Inc. now owns 3,974 shares of the basic materials company’s stock valued at $109,000 after purchasing an additional 3,748 shares during the last quarter. 75.95% of the stock is owned by institutional investors.
In other news, insider Monte G. Edlund sold 2,000 shares of the firm’s 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 completion of the transaction, the insider now owns 52,696 shares of the company’s stock, valued at $1,127,694.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.00% of the stock is currently owned by company insiders.
Shares of HUN stock traded down $1.00 during trading hours on Friday, hitting $28.33. 2,561,003 shares of the company’s stock traded hands, compared to its average volume of 3,073,740. The company has a market capitalization of $6,847.90, a P/E ratio of 11.42, a PEG ratio of 1.24 and a beta of 2.72. Huntsman Co. has a 12 month low of $23.12 and a 12 month high of $36.09. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.50 and a current ratio of 1.83.
Huntsman (NYSE:HUN) last released its quarterly earnings results on Friday, February 23rd. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.10. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.10 billion. Huntsman had a net margin of 6.73% and a return on equity of 29.30%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 earnings per share. sell-side analysts forecast that Huntsman Co. will post 2.77 earnings per share for the current fiscal year.
Huntsman declared that its board has initiated a stock buyback plan on Friday, February 23rd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the basic materials company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
The firm also recently declared 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. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.65 annualized dividend and a dividend yield of 2.29%. This is an increase from Huntsman’s previous quarterly dividend of $0.13. Huntsman’s dividend payout ratio (DPR) is presently 26.21%.
HUN has been the subject of several research reports. ValuEngine downgraded shares of Huntsman from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 17th. Citigroup increased their price objective on shares of Huntsman from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Jefferies Group increased their price objective on shares of Huntsman to $43.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Tudor Pickering initiated coverage on shares of Huntsman in a research note on Friday, January 19th. They issued a “buy” rating for the company. Finally, Nomura downgraded shares of Huntsman from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $40.00 to $36.00 in a research note on Tuesday, March 20th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Huntsman currently has an average rating of “Buy” and a consensus target price of $35.58.
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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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