Farallon Capital Management LLC decreased its position in Huntsman Co. (NYSE:HUN) by 30.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,425,000 shares of the basic materials company’s stock after selling 1,075,000 shares during the period. Farallon Capital Management LLC owned about 1.01% of Huntsman worth $80,728,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Assetmark Inc. grew its stake in Huntsman by 1,658.4% during the third quarter. Assetmark Inc. now owns 3,974 shares of the basic materials company’s stock worth $109,000 after buying an additional 3,748 shares during the period. Cerebellum GP LLC acquired a new position in shares of Huntsman during the fourth quarter worth $128,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Huntsman during the fourth quarter worth $133,000. American International Group Inc. acquired a new position in shares of Huntsman during the fourth quarter worth $149,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Huntsman by 9.1% during the second quarter. The Manufacturers Life Insurance Company now owns 7,281 shares of the basic materials company’s stock worth $188,000 after purchasing an additional 610 shares in the last quarter. 76.04% of the stock is currently owned by institutional investors and hedge funds.
Huntsman Co. (NYSE HUN) traded down $1.24 during trading on Wednesday, hitting $31.48. The company had a trading volume of 2,908,023 shares, compared to its average volume of 3,210,000. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.83 and a quick ratio of 1.50. The company has a market capitalization of $7,610.00, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.46 and a beta of 2.71. Huntsman Co. has a fifty-two week low of $21.92 and a fifty-two week high of $36.09.
Huntsman (NYSE:HUN) last posted its earnings results on Friday, February 23rd. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.10. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.10 billion. Huntsman had a return on equity of 29.30% and a net margin of 6.73%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 EPS. equities analysts predict that Huntsman Co. will post 2.74 EPS for the current fiscal year.
Huntsman announced that its Board of Directors has authorized a stock repurchase program on Friday, February 23rd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the basic materials company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be paid a $0.1625 dividend. This is a boost from Huntsman’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.65 annualized dividend and a yield of 2.06%. Huntsman’s payout ratio is presently 28.74%.
In related news, insider Monte G. Edlund sold 2,000 shares of the business’s stock in a transaction that occurred on Saturday, February 17th. The stock was sold at an average price of $21.40, for a total transaction of $42,800.00. Following the transaction, the insider now directly owns 52,696 shares of the company’s stock, valued at approximately $1,127,694.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Corp Huntsman sold 1,948,955 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $21.66, for a total value of $42,214,365.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,150,955 shares of company stock worth $48,905,165. Company insiders own 19.00% of the company’s stock.
HUN has been the topic of several recent analyst reports. Citigroup upped their price target on shares of Huntsman from $41.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. ValuEngine lowered shares of Huntsman from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 15th. Jefferies Group increased their target price on shares of Huntsman to $43.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Tudor Pickering assumed coverage on shares of Huntsman in a research report on Friday, January 19th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of Huntsman in a research note on Wednesday, December 13th. They set an “overweight” rating and a $36.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $35.92.
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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