Huntsman Co. (HUN) Shares Bought by Point72 Hong Kong Ltd
Point72 Hong Kong Ltd lifted its position in shares of Huntsman Co. (NYSE:HUN) by 97.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,899 shares of the basic materials company’s stock after buying an additional 6,861 shares during the period. Point72 Hong Kong Ltd’s holdings in Huntsman were worth $378,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in HUN. FTB Advisors Inc. acquired a new stake in shares of Huntsman during the 2nd quarter worth $114,000. Willingdon Wealth Management acquired a new stake in shares of Huntsman during the 3rd quarter worth $118,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Huntsman during the 3rd quarter worth $177,000. Clear Harbor Asset Management LLC acquired a new stake in shares of Huntsman during the 3rd quarter worth $200,000. Finally, Signition LP acquired a new stake in shares of Huntsman during the 3rd quarter worth $218,000. Institutional investors and hedge funds own 77.51% of the company’s stock.
Shares of NYSE HUN opened at $18.30 on Friday. Huntsman Co. has a 12-month low of $17.94 and a 12-month high of $36.09. The firm has a market capitalization of $4.50 billion, a P/E ratio of 7.38, a P/E/G ratio of 0.65 and a beta of 2.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.88 and a quick ratio of 1.51.
Huntsman (NYSE:HUN) last announced its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.02. Huntsman had a return on equity of 22.96% and a net margin of 9.88%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the firm earned $0.67 EPS. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, analysts forecast that Huntsman Co. will post 3.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be paid a dividend of $0.1625 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.65 annualized dividend and a dividend yield of 3.55%. Huntsman’s dividend payout ratio is presently 26.21%.
HUN has been the subject of a number of research analyst reports. Citigroup downgraded Huntsman from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $43.00 to $30.00 in a report on Monday, October 1st. Seaport Global Securities initiated coverage on Huntsman in a report on Friday, August 24th. They issued a “buy” rating for the company. Nomura lowered their price target on Huntsman from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, October 31st. Barclays initiated coverage on Huntsman in a report on Monday, October 8th. They issued an “underweight” rating and a $29.00 price target for the company. Finally, ValuEngine downgraded Huntsman from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.95.
In other Huntsman news, CFO Sean Douglas bought 7,500 shares of the stock in a transaction dated Wednesday, October 31st. The stock was bought at an average cost of $21.47 per share, for a total transaction of $161,025.00. Following the completion of the purchase, the chief financial officer now directly owns 77,595 shares of the company’s stock, valued at $1,665,964.65. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David M. Stryker bought 1,282 shares of the stock in a transaction dated Wednesday, October 31st. The shares were acquired at an average price of $21.55 per share, with a total value of $27,627.10. Following the completion of the purchase, the vice president now directly owns 122,852 shares of the company’s stock, valued at $2,647,460.60. The disclosure for this purchase can be found here. Insiders have bought 50,282 shares of company stock valued at $1,004,692 over the last 90 days. Insiders own 10.90% of the company’s stock.
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About Huntsman
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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