Lapides Asset Management LLC lessened its position in Huntsman Corporation (NYSE:HUN) by 12.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 578,800 shares of the basic materials company’s stock after selling 85,500 shares during the quarter. Huntsman Corporation comprises 3.3% of Lapides Asset Management LLC’s holdings, making the stock its 6th largest position. Lapides Asset Management LLC owned 0.24% of Huntsman Corporation worth $15,871,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. lifted its position in shares of Huntsman Corporation by 0.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,385 shares of the basic materials company’s stock valued at $139,000 after acquiring an additional 24 shares in the last quarter. Synovus Financial Corp lifted its position in shares of Huntsman Corporation by 0.7% in the second quarter. Synovus Financial Corp now owns 8,979 shares of the basic materials company’s stock valued at $234,000 after acquiring an additional 62 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of Huntsman Corporation by 0.6% in the first quarter. New York State Teachers Retirement System now owns 17,600 shares of the basic materials company’s stock valued at $432,000 after acquiring an additional 100 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Huntsman Corporation by 0.7% in the second quarter. PNC Financial Services Group Inc. now owns 28,889 shares of the basic materials company’s stock valued at $746,000 after acquiring an additional 192 shares in the last quarter. Finally, Acrospire Investment Management LLC lifted its position in shares of Huntsman Corporation by 2.5% in the second quarter. Acrospire Investment Management LLC now owns 8,208 shares of the basic materials company’s stock valued at $212,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 74.47% of the company’s stock.
Several research firms have recently weighed in on HUN. Alembic Global Advisors restated a “buy” rating on shares of Huntsman Corporation in a research report on Monday, November 6th. UBS AG increased their price target on Huntsman Corporation from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, October 30th. Nomura increased their price target on Huntsman Corporation to $40.00 and gave the company a “buy” rating in a report on Monday, October 30th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $32.00 price target on shares of Huntsman Corporation in a report on Friday, October 27th. They noted that the move was a valuation call. Finally, KeyCorp reaffirmed a “buy” rating and issued a $34.00 price target on shares of Huntsman Corporation in a report on Tuesday, October 17th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Huntsman Corporation has an average rating of “Buy” and a consensus price target of $31.55.
In other news, Chairman Jon M. Huntsman sold 383,610 shares of Huntsman Corporation stock in a transaction on Monday, October 30th. The stock was sold at an average price of $31.58, for a total value of $12,114,403.80. Following the completion of the sale, the chairman now directly owns 115,206 shares of the company’s stock, valued at $3,638,205.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary C. Beckerle sold 4,507 shares of Huntsman Corporation stock in a transaction on Friday, November 10th. The shares were sold at an average price of $30.76, for a total value of $138,635.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,056,190 shares of company stock valued at $33,429,051. 19.00% of the stock is owned by insiders.
Huntsman Corporation (NYSE:HUN) traded down $0.58 during mid-day trading on Wednesday, reaching $30.11. The company’s stock had a trading volume of 4,716,900 shares, compared to its average volume of 3,640,267. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.52 and a current ratio of 1.87. The firm has a market capitalization of $7,365.85, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.47 and a beta of 2.87. Huntsman Corporation has a one year low of $18.18 and a one year high of $32.59.
Huntsman Corporation (NYSE:HUN) last posted its earnings results on Friday, October 27th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.17. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Huntsman Corporation had a return on equity of 30.64% and a net margin of 5.37%. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 earnings per share. analysts predict that Huntsman Corporation will post 2.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.125 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.50 annualized dividend and a yield of 1.66%. Huntsman Corporation’s dividend payout ratio (DPR) is 23.47%.
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Huntsman Corporation 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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