Two Sigma Advisers LP boosted its position in shares of Huntsman Co. (NYSE:HUN) by 57.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,777,590 shares of the basic materials company’s stock after purchasing an additional 1,017,607 shares during the quarter. Two Sigma Advisers LP owned 1.16% of Huntsman worth $92,466,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Huntsman by 2.5% during the fourth quarter. BlackRock Inc. now owns 11,671,197 shares of the basic materials company’s stock valued at $388,534,000 after purchasing an additional 280,753 shares during the period. Iridian Asset Management LLC CT acquired a new position in shares of Huntsman in the fourth quarter valued at approximately $205,327,000. Bank of New York Mellon Corp boosted its holdings in shares of 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 during the period. JPMorgan Chase & Co. boosted its holdings in shares of Huntsman by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 5,466,615 shares of the basic materials company’s stock valued at $149,566,000 after buying an additional 75,590 shares during the period. Finally, OxFORD Asset Management LLP acquired a new position in shares of Huntsman in the third quarter valued at approximately $78,686,000. Hedge funds and other institutional investors own 76.04% of the company’s stock.
Shares of Huntsman Co. (NYSE:HUN) opened at $32.72 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 1.83 and a debt-to-equity ratio of 0.67. The company has a market cap of $7,950.13, a price-to-earnings ratio of 12.58, a PEG ratio of 1.46 and a beta of 2.71. Huntsman Co. has a 1 year low of $21.92 and a 1 year high of $36.09.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be given a $0.1625 dividend. This represents a $0.65 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Wednesday, March 14th. This is a positive change from Huntsman’s previous quarterly dividend of $0.13. Huntsman’s payout ratio is currently 19.23%.
Huntsman announced that its Board of Directors has approved a share buyback program on Friday, February 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the basic materials company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
Several research firms have recently weighed in on HUN. ValuEngine cut shares of Huntsman from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. Goldman Sachs Group reiterated a “hold” rating and issued a $36.00 price target on shares of Huntsman in a report on Monday, December 4th. JPMorgan Chase & Co. began coverage on shares of Huntsman in a report on Wednesday, December 13th. They issued an “overweight” rating and a $36.00 price target for the company. Citigroup upped their price target on shares of Huntsman from $41.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, Tudor Pickering began coverage on shares of Huntsman in a report on Friday, January 19th. They issued a “buy” rating for the company. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Huntsman currently has a consensus rating of “Buy” and a consensus target price of $35.92.
In other news, insider Monte G. Edlund sold 2,000 shares of the business’s stock in a transaction on Saturday, February 17th. The shares were sold at an average price of $21.40, for a total value of $42,800.00. Following the sale, the insider now owns 52,696 shares of the company’s stock, valued at $1,127,694.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Corp Huntsman sold 1,948,955 shares of the business’s stock in a transaction 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. In the last three months, insiders sold 2,150,955 shares of company stock worth $48,905,165. 19.00% of the stock is currently owned by insiders.
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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