Jump Trading LLC acquired a new stake in shares of Huntsman Co. (NYSE:HUN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,164 shares of the basic materials company’s stock, valued at approximately $205,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Iridian Asset Management LLC CT bought a new position in Huntsman in the fourth quarter valued at approximately $205,327,000. Millennium Management LLC lifted its stake in Huntsman by 766.0% in the fourth 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 in the last quarter. Bank of New York Mellon Corp lifted its stake in Huntsman by 292.7% in the fourth 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 in the last quarter. OxFORD Asset Management LLP bought a new position in Huntsman in the third quarter valued at approximately $78,686,000. Finally, Two Sigma Investments LP lifted its stake in Huntsman by 254.8% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 75.95% of the company’s stock.
In other Huntsman news, CEO Anthony P. Hankins sold 100,000 shares of the company’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $33.24, for a total transaction of $3,324,000.00. Following the sale, the chief executive officer now directly owns 462,615 shares of the company’s stock, valued at $15,377,322.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Monte G. Edlund sold 2,000 shares of the company’s stock in a transaction on Saturday, February 17th. The shares were sold at an average price of $21.40, for a total transaction of $42,800.00. Following the completion of the transaction, the insider now owns 52,696 shares in the company, valued at $1,127,694.40. The disclosure for this sale can be found here. Insiders have sold 2,150,955 shares of company stock worth $48,905,165 over the last ninety days. Insiders own 19.00% of the company’s stock.
A number of research analysts have weighed in on HUN shares. Citigroup lifted their price target on shares of Huntsman from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. ValuEngine lowered shares of Huntsman from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 15th. Jefferies Group lifted their price target on shares of Huntsman to $43.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Tudor Pickering assumed coverage on shares of Huntsman in a research note on Friday, January 19th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Huntsman in a research report on Wednesday, December 13th. They issued an “overweight” rating and a $36.00 price objective on the stock. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $35.58.
Shares of HUN stock opened at $30.44 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 1.50 and a debt-to-equity ratio of 0.67. Huntsman Co. has a 1 year low of $21.92 and a 1 year high of $36.09. The stock has a market cap of $7,512.62, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.37 and a beta of 2.71.
Huntsman (NYSE:HUN) last posted its quarterly 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. Huntsman had a net margin of 6.73% and a return on equity of 29.30%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. equities analysts anticipate that Huntsman Co. will post 2.74 EPS for the current fiscal year.
Huntsman declared that its board has approved a stock buyback plan on Friday, February 23rd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.1625 per share. This is a positive change from Huntsman’s previous quarterly dividend of $0.13. This represents a $0.65 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, March 14th. Huntsman’s dividend payout ratio is 25.00%.
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Huntsman Company 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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