Wedge Capital Management L L P NC raised its stake in shares of Huntsman Co. (NYSE:HUN) by 25.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 382,405 shares of the basic materials company’s stock after buying an additional 76,876 shares during the period. Wedge Capital Management L L P NC owned about 0.16% of Huntsman worth $7,816,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in HUN. Rothschild & Co. Asset Management US Inc. purchased a new stake in Huntsman during the 2nd quarter valued at $39,675,000. Carillon Tower Advisers Inc. raised its stake in Huntsman by 61.3% during the 1st quarter. Carillon Tower Advisers Inc. now owns 2,811,189 shares of the basic materials company’s stock valued at $63,223,000 after buying an additional 1,068,025 shares during the last quarter. AJO LP raised its stake in Huntsman by 3,526.0% during the 1st quarter. AJO LP now owns 824,736 shares of the basic materials company’s stock valued at $18,548,000 after buying an additional 801,991 shares during the last quarter. Thornburg Investment Management Inc. raised its stake in Huntsman by 101.2% during the 1st quarter. Thornburg Investment Management Inc. now owns 1,520,467 shares of the basic materials company’s stock valued at $34,195,000 after buying an additional 764,641 shares during the last quarter. Finally, Argent Capital Management LLC raised its stake in Huntsman by 134.4% during the 1st quarter. Argent Capital Management LLC now owns 1,273,137 shares of the basic materials company’s stock valued at $28,633,000 after buying an additional 730,032 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.
Several equities research analysts have recently commented on HUN shares. Nomura restated a “buy” rating and issued a $26.00 price objective on shares of Huntsman in a research note on Sunday. Goldman Sachs Group upgraded Huntsman from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Thursday, May 9th. UBS Group set a $26.00 price objective on Huntsman and gave the stock a “buy” rating in a research note on Wednesday, July 31st. KeyCorp reduced their price objective on Huntsman from $28.00 to $27.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Finally, Barclays restated a “sell” rating and issued a $19.00 price objective on shares of Huntsman in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $27.36.
Shares of NYSE:HUN traded down $0.17 during midday trading on Thursday, hitting $18.80. The company had a trading volume of 69,180 shares, compared to its average volume of 2,705,790. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.16 and a current ratio of 1.83. The firm has a market cap of $4.47 billion, a P/E ratio of 5.67, a price-to-earnings-growth ratio of 1.00 and a beta of 2.29. Huntsman Co. has a 12-month low of $17.33 and a 12-month high of $33.04. The business has a fifty day simple moving average of $20.19.
Huntsman (NYSE:HUN) last posted its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Huntsman had a positive return on equity of 18.68% and a negative net margin of 1.37%. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter last year, the company earned $1.01 earnings per share. On average, equities analysts expect that Huntsman Co. will post 2.3 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.1625 dividend. This represents a $0.65 annualized dividend and a yield of 3.46%. The ex-dividend date is Thursday, September 12th. Huntsman’s dividend payout ratio is currently 19.46%.
In other news, VP David M. Stryker bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average price of $19.01 per share, with a total value of $38,020.00. Following the acquisition, the vice president now owns 179,930 shares of the company’s stock, valued at approximately $3,420,469.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.60% of the company’s stock.
Huntsman Company Profile
Huntsman Corporation 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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