Huntsman Sees Unusually High Options Volume (HUN)
Huntsman Co. (NYSE:HUN) was the recipient of some unusual options trading activity on Monday. Investors purchased 5,275 put options on the stock. This is an increase of approximately 829% compared to the typical daily volume of 568 put options.
Several brokerages have issued reports on HUN. Jefferies Group LLC lowered their price target on shares of Huntsman from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Monday. Nomura reissued a “buy” rating and issued a $30.00 price target on shares of Huntsman in a report on Thursday, April 27th. Citigroup Inc raised shares of Huntsman from a “neutral” rating to a “buy” rating and boosted their price target for the company from $24.54 to $28.00 in a report on Monday, April 3rd. Zacks Investment Research raised shares of Huntsman from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Tuesday, April 18th. Finally, Instinet reaffirmed a “positive” rating and issued a $26.00 target price (up previously from $25.00) on shares of Huntsman in a report on Tuesday, March 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Huntsman currently has an average rating of “Buy” and an average target price of $26.67.
Shares of Huntsman (NYSE:HUN) opened at 24.61 on Thursday. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 17.19 and a beta of 2.61. Huntsman has a 12-month low of $12.40 and a 12-month high of $28.20. The stock has a 50 day moving average of $24.96 and a 200 day moving average of $21.82.
Huntsman (NYSE:HUN) last issued its quarterly earnings results on Wednesday, April 26th. The basic materials company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.19. Huntsman had a return on equity of 25.26% and a net margin of 2.11%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities analysts expect that Huntsman will post $2.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be given a dividend of $0.125 per share. The ex-dividend date is Tuesday, June 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.03%. Huntsman’s dividend payout ratio is presently 58.82%.
In other Huntsman news, VP Russell R. Stolle sold 22,604 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $24.90, for a total value of $562,839.60. Following the sale, the vice president now owns 93,351 shares of the company’s stock, valued at approximately $2,324,439.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jon M. Huntsman sold 100,000 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $24.66, for a total transaction of $2,466,000.00. Following the completion of the sale, the insider now directly owns 598,816 shares in the company, valued at approximately $14,766,802.56. The disclosure for this sale can be found here. Insiders sold a total of 250,197 shares of company stock worth $6,268,457 in the last three months. Insiders own 19.68% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of HUN. Acrospire Investment Management LLC purchased a new position in shares of Huntsman during the third quarter worth approximately $109,000. SG Americas Securities LLC purchased a new position in shares of Huntsman during the first quarter worth approximately $122,000. Brinker Capital Inc. purchased a new position in shares of Huntsman during the third quarter worth approximately $173,000. Bayesian Capital Management LP purchased a new position in shares of Huntsman during the fourth quarter worth approximately $197,000. Finally, World Asset Management Inc purchased a new position in shares of Huntsman during the first quarter worth approximately $241,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.
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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