HBK Investments L P purchased a new position in shares of Huntsman Co. (NYSE:HUN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 689,774 shares of the basic materials company’s stock, valued at approximately $22,963,000. HBK Investments L P owned about 0.29% of Huntsman as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Iridian Asset Management LLC CT purchased a new position in Huntsman in the fourth quarter valued at about $205,327,000. Bank of New York Mellon Corp boosted 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 acquiring an additional 4,128,204 shares during the last quarter. OxFORD Asset Management LLP purchased a new position in Huntsman in the third quarter valued at about $78,686,000. Two Sigma Investments LP boosted 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 acquiring an additional 2,537,977 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Huntsman by 243.2% in the third quarter. Point72 Asset Management L.P. now owns 2,824,233 shares of the basic materials company’s stock valued at $77,440,000 after acquiring an additional 2,001,233 shares during the last quarter. Institutional investors and hedge funds own 76.04% of the company’s stock.
Shares of Huntsman Co. (HUN) opened at $32.55 on Monday. The company has a market cap of $7,867.94, a P/E ratio of 11.42, a P/E/G ratio of 1.44 and a beta of 2.71. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.50 and a current ratio of 1.83. Huntsman Co. has a 52 week low of $21.67 and a 52 week high of $36.09.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be issued a dividend of $0.1625 per share. This represents a $0.65 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Wednesday, March 14th. This is a positive change from Huntsman’s previous quarterly dividend of $0.13. Huntsman’s dividend payout ratio is 19.23%.
Huntsman announced that its board has authorized a share buyback program on Friday, February 23rd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the basic materials company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
A number of research analysts have weighed in on the stock. ValuEngine cut shares of Huntsman from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 15th. Goldman Sachs Group reiterated a “hold” rating and issued a $36.00 target price on shares of Huntsman in a research note on Monday, December 4th. JPMorgan Chase & Co. assumed coverage on shares of Huntsman in a research note on Wednesday, December 13th. They issued an “overweight” rating and a $36.00 target price on the stock. Citigroup upped 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. Finally, Tudor Pickering assumed coverage on shares of Huntsman in a research note on Friday, January 19th. They set a “buy” rating on the stock. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $35.92.
In related news, insider Monte G. Edlund sold 2,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 52,696 shares of the company’s stock, valued at approximately $1,127,694.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Corp Huntsman sold 1,948,955 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $21.66, for a total transaction of $42,214,365.30. The disclosure for this sale can be found here. Insiders have sold a total of 2,150,955 shares of company stock worth $48,905,165 in the last ninety days. 19.00% of the stock is currently owned by insiders.
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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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