First Trust Advisors LP lessened its stake in Huntsman Co. (NYSE:HUN) by 6.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 290,987 shares of the basic materials company’s stock after selling 18,693 shares during the period. First Trust Advisors LP owned about 0.13% of Huntsman worth $6,463,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HUN. Yacktman Asset Management LP lifted its stake in Huntsman by 2.9% during the third quarter. Yacktman Asset Management LP now owns 6,843,665 shares of the basic materials company’s stock worth $151,998,000 after purchasing an additional 190,264 shares during the period. Macquarie Group Ltd. lifted its position in Huntsman by 27.1% in the 2nd quarter. Macquarie Group Ltd. now owns 4,721,207 shares of the basic materials company’s stock valued at $84,841,000 after acquiring an additional 1,006,371 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Huntsman by 39.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,721,771 shares of the basic materials company’s stock valued at $48,911,000 after acquiring an additional 763,198 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Huntsman by 44.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,856,945 shares of the basic materials company’s stock valued at $33,342,000 after buying an additional 571,845 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Huntsman by 324.4% in the 2nd quarter. Bank of Montreal Can now owns 1,813,080 shares of the basic materials company’s stock valued at $30,659,000 after buying an additional 1,385,844 shares during the last quarter. Institutional investors and hedge funds own 75.43% of the company’s stock.
Shares of Huntsman stock opened at $24.40 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.14 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $24.32 and its two-hundred day simple moving average is $20.61. The company has a market cap of $5.38 billion, a P/E ratio of 5.50, a PEG ratio of 6.22 and a beta of 1.71. Huntsman Co. has a 12-month low of $12.23 and a 12-month high of $26.58.
Huntsman (NYSE:HUN) last released its earnings results on Thursday, October 29th. The basic materials company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.07. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Huntsman had a net margin of 16.55% and a return on equity of 5.27%. The company’s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 EPS. Analysts predict that Huntsman Co. will post 0.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be paid a $0.1625 dividend. This represents a $0.65 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, December 14th. Huntsman’s dividend payout ratio (DPR) is presently 42.48%.
Several research analysts have recently weighed in on HUN shares. Morgan Stanley upgraded shares of Huntsman from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a research note on Tuesday, September 29th. KeyCorp boosted their price objective on shares of Huntsman from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Scotiabank raised shares of Huntsman from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $22.00 to $29.00 in a report on Friday, October 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Huntsman in a report on Thursday, October 15th. They set a “buy” rating and a $30.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Huntsman from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $23.61.
Huntsman Corporation 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.
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