Empirical Finance LLC bought a new stake in Huntsman Co. (NYSE:HUN) during the third quarter, HoldingsChannel reports. The fund bought 50,265 shares of the basic materials company’s stock, valued at approximately $1,369,000.
Several other hedge funds have also recently modified their holdings of HUN. Stifel Financial Corp raised its holdings in shares of Huntsman by 12.4% in the 1st quarter. Stifel Financial Corp now owns 85,979 shares of the basic materials company’s stock valued at $2,513,000 after purchasing an additional 9,498 shares during the period. UBS Group AG raised its holdings in Huntsman by 219.7% in the 1st quarter. UBS Group AG now owns 671,887 shares of the basic materials company’s stock valued at $19,653,000 after acquiring an additional 461,710 shares during the period. Element Capital Management LLC bought a new position in Huntsman in the 1st quarter valued at about $361,000. LPL Financial LLC raised its holdings in Huntsman by 62.4% in the 1st quarter. LPL Financial LLC now owns 20,862 shares of the basic materials company’s stock valued at $610,000 after acquiring an additional 8,018 shares during the period. Finally, Guggenheim Capital LLC raised its holdings in Huntsman by 21.6% in the 1st quarter. Guggenheim Capital LLC now owns 116,138 shares of the basic materials company’s stock valued at $3,396,000 after acquiring an additional 20,604 shares during the period. 77.08% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on HUN shares. Zacks Investment Research raised shares of Huntsman from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Monday, July 16th. Citigroup increased their price target on shares of Huntsman from $42.50 to $43.00 and gave the company a “buy” rating in a report on Wednesday, July 11th. MED reissued a “buy” rating on shares of Huntsman in a report on Monday, September 17th. Seaport Global Securities started coverage on shares of Huntsman in a report on Friday, August 24th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $38.00 price target on shares of Huntsman in a report on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $35.46.
Shares of NYSE:HUN opened at $22.57 on Friday. Huntsman Co. has a 12-month low of $22.50 and a 12-month high of $36.09. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 0.79 and a beta of 2.69. The company has a current ratio of 1.93, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.
Huntsman (NYSE:HUN) last announced its earnings results on Tuesday, July 31st. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.17. Huntsman had a net margin of 11.92% and a return on equity of 24.14%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue was up 17.0% compared to the same quarter last year. Equities analysts expect that Huntsman Co. will post 3.5 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were given a dividend of $0.1625 per share. The ex-dividend date was Thursday, September 13th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 2.88%. Huntsman’s payout ratio is presently 26.21%.
Huntsman Corporation, through its subsidiary, Huntsman International LLC, manufactures and sells differentiated organic chemical products worldwide. The company operates in four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.
Further Reading: Retained Earnings
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