Cambridge Investment Research Advisors Inc. raised its stake in Huntsman Corp (NYSE:HUN) by 34.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,142 shares of the basic materials company’s stock after buying an additional 3,144 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Huntsman were worth $404,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HUN. Iridian Asset Management LLC CT bought a new stake in shares of Huntsman in the 4th quarter valued at about $205,327,000. Millennium Management LLC grew its position in shares of Huntsman by 766.0% in the 4th quarter. Millennium Management LLC now owns 6,494,754 shares of the basic materials company’s stock valued at $216,210,000 after buying an additional 5,744,820 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Huntsman by 292.7% in the 4th quarter. Bank of New York Mellon Corp now owns 5,538,830 shares of the basic materials company’s stock valued at $184,387,000 after buying an additional 4,128,204 shares during the last quarter. Two Sigma Investments LP grew its position in shares of Huntsman by 254.8% in the 4th quarter. Two Sigma Investments LP now owns 3,534,199 shares of the basic materials company’s stock valued at $117,653,000 after buying an additional 2,537,977 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Huntsman in the 4th quarter valued at about $36,486,000. Hedge funds and other institutional investors own 75.95% of the company’s stock.
HUN has been the topic of a number of analyst reports. ValuEngine upgraded Huntsman from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Jefferies Group upped their price target on Huntsman to $43.00 and gave the company a “buy” rating in a research report on Friday, January 26th. KeyCorp boosted their price objective on Huntsman from $37.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Citigroup boosted their price objective on Huntsman from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, Tudor Pickering initiated coverage on Huntsman in a research note on Friday, January 19th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $35.54.
In related news, insider Monte G. Edlund sold 2,000 shares of the company’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 document filed with the SEC, which can be accessed through this link. 19.00% of the stock is currently owned by corporate insiders.
HUN stock opened at $31.12 on Friday. Huntsman Corp has a fifty-two week low of $23.12 and a fifty-two week 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. The company has a market cap of $7,522.30, a P/E ratio of 10.92, a PEG ratio of 1.35 and a beta of 2.72.
Huntsman (NYSE:HUN) last posted its quarterly earnings results on Friday, February 23rd. The basic materials company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.10. Huntsman had a return on equity of 29.30% and a net margin of 6.73%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the business earned $0.30 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. equities research analysts forecast that Huntsman Corp will post 2.8 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Thursday, March 15th were paid a dividend of $0.1625 per share. This is an increase from Huntsman’s previous quarterly dividend of $0.13. This represents a $0.65 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Wednesday, March 14th. Huntsman’s dividend payout ratio is 26.21%.
Huntsman announced that its Board of Directors has approved a stock repurchase program on Friday, February 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the basic materials company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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.
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