Huntsman Co. (NYSE:HUN) Shares Sold by First Trust Advisors LP
Other hedge funds have also recently added to or reduced their stakes in the company. Brandywine Global Investment Management LLC increased its stake in shares of Huntsman by 19.1% during the third quarter. Brandywine Global Investment Management LLC now owns 2,114,614 shares of the basic materials company’s stock worth $62,571,000 after buying an additional 339,407 shares during the period. Wilen Investment Management CORP. increased its stake in shares of Huntsman by 0.6% during the third quarter. Wilen Investment Management CORP. now owns 260,646 shares of the basic materials company’s stock worth $7,624,000 after buying an additional 1,500 shares during the period. Scout Investments Inc. increased its stake in shares of Huntsman by 44.8% during the fourth quarter. Scout Investments Inc. now owns 1,159,733 shares of the basic materials company’s stock worth $40,451,000 after buying an additional 358,663 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Huntsman during the third quarter worth approximately $1,743,000. Finally, Alberta Investment Management Corp increased its stake in shares of Huntsman by 59.4% during the third quarter. Alberta Investment Management Corp now owns 461,684 shares of the basic materials company’s stock worth $13,661,000 after buying an additional 172,000 shares during the period. Hedge funds and other institutional investors own 84.65% of the company’s stock.
Shares of HUN opened at $33.87 on Monday. The company has a current ratio of 1.92, a quick ratio of 1.33 and a debt-to-equity ratio of 0.34. The firm has a market cap of $7.27 billion, a PE ratio of 6.26, a price-to-earnings-growth ratio of 0.69 and a beta of 1.13. The company’s 50 day simple moving average is $37.06 and its 200-day simple moving average is $35.38. Huntsman Co. has a 12-month low of $24.09 and a 12-month high of $41.65.
Huntsman (NYSE:HUN – Get Rating) last announced its earnings results on Thursday, April 28th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.17. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.28 billion. Huntsman had a net margin of 13.16% and a return on equity of 21.61%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share. As a group, equities research analysts forecast that Huntsman Co. will post 4.07 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th were given a dividend of $0.2125 per share. The ex-dividend date was Monday, March 14th. This is a positive change from Huntsman’s previous quarterly dividend of $0.19. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.51%. Huntsman’s dividend payout ratio (DPR) is 15.71%.
Huntsman declared that its Board of Directors has initiated a share repurchase program on Monday, March 28th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 24.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
A number of analysts recently weighed in on HUN shares. The Goldman Sachs Group upped their target price on shares of Huntsman from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, March 1st. Royal Bank of Canada increased their price target on shares of Huntsman from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, February 16th. Alembic Global Advisors reiterated a “buy” rating and issued a $48.00 price target on shares of Huntsman in a research note on Monday, February 28th. Barclays dropped their price target on shares of Huntsman from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, March 28th. Finally, Morgan Stanley increased their price target on shares of Huntsman from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, January 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $47.64.
About Huntsman (Get Rating)
Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates through 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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