Massachusetts Financial Services Co. MA lessened its stake in shares of Huntsman Co. (NYSE:HUN) by 66.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,280 shares of the basic materials company’s stock after selling 74,841 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Huntsman were worth $1,015,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of HUN. Wells Fargo & Company MN raised its holdings in Huntsman by 66.5% during the 2nd quarter. Wells Fargo & Company MN now owns 5,165,328 shares of the basic materials company’s stock worth $150,827,000 after buying an additional 2,063,494 shares during the period. Voya Investment Management LLC raised its holdings in Huntsman by 72.9% during the 2nd quarter. Voya Investment Management LLC now owns 4,593,258 shares of the basic materials company’s stock worth $134,123,000 after buying an additional 1,936,410 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd raised its holdings in Huntsman by 1,032.6% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,685,795 shares of the basic materials company’s stock worth $45,904,000 after buying an additional 1,536,953 shares during the period. FMR LLC raised its holdings in Huntsman by 54.4% during the 2nd quarter. FMR LLC now owns 3,517,861 shares of the basic materials company’s stock worth $102,722,000 after buying an additional 1,239,240 shares during the period. Finally, LSV Asset Management raised its holdings in Huntsman by 10.9% during the 2nd quarter. LSV Asset Management now owns 11,453,687 shares of the basic materials company’s stock worth $334,447,000 after buying an additional 1,126,895 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.
In other news, VP David M. Stryker acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The shares were purchased at an average price of $22.92 per share, for a total transaction of $45,840.00. Following the completion of the acquisition, the vice president now owns 123,752 shares of the company’s stock, valued at approximately $2,836,395.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sean Douglas acquired 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The stock was purchased at an average price of $21.47 per share, for a total transaction of $161,025.00. Following the acquisition, the chief financial officer now directly owns 77,595 shares of the company’s stock, valued at approximately $1,665,964.65. The disclosure for this purchase can be found here. Insiders bought a total of 10,782 shares of company stock worth $234,492 in the last quarter. 19.00% of the stock is owned by corporate insiders.
Several analysts have issued reports on the company. Royal Bank of Canada restated a “buy” rating and set a $38.00 price objective on shares of Huntsman in a report on Wednesday, August 1st. Seaport Global Securities assumed coverage on Huntsman in a report on Friday, August 24th. They set a “buy” rating on the stock. Zacks Investment Research downgraded Huntsman from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. ValuEngine downgraded Huntsman from a “hold” rating to a “sell” rating in a report on Saturday, September 1st. Finally, MED reiterated a “buy” rating on shares of Huntsman in a report on Monday, September 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $34.58.
Shares of HUN opened at $22.19 on Friday. The stock has a market capitalization of $5.64 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 0.81 and a beta of 2.67. Huntsman Co. has a fifty-two week low of $19.26 and a fifty-two week high of $36.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 1.88.
Huntsman (NYSE:HUN) last issued its earnings results on Tuesday, October 30th. The basic materials company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.24 billion. Huntsman had a return on equity of 22.96% and a net margin of 9.88%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. On average, sell-side analysts expect that Huntsman Co. will post 3.42 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be issued a $0.1625 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 2.93%. Huntsman’s dividend payout ratio is 26.21%.
COPYRIGHT VIOLATION WARNING: “Huntsman Co. (HUN) Holdings Cut by Massachusetts Financial Services Co. MA” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2018/11/10/huntsman-co-hun-holdings-cut-by-massachusetts-financial-services-co-ma.html.
Huntsman Corporation, through its subsidiary, Huntsman International LLC, 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.
See Also: What is the Dividend Aristocrat Index?
Want to see what other hedge funds are holding HUN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntsman Co. (NYSE:HUN).
Receive News & Ratings for Huntsman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntsman and related companies with MarketBeat.com's FREE daily email newsletter.