Panagora Asset Management Inc. boosted its holdings in Huntsman Co. (NYSE:HUN) by 252.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 168,320 shares of the basic materials company’s stock after acquiring an additional 120,509 shares during the quarter. Panagora Asset Management Inc. owned 0.07% of Huntsman worth $4,583,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in HUN. FTB Advisors Inc. bought a new position in shares of Huntsman during the 2nd quarter valued at about $114,000. Willingdon Wealth Management bought a new position in shares of Huntsman during the 3rd quarter valued at about $118,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Huntsman during the 2nd quarter valued at about $122,000. Stratos Wealth Partners LTD. bought a new position in shares of Huntsman during the 3rd quarter valued at about $177,000. Finally, Clear Harbor Asset Management LLC bought a new position in shares of Huntsman during the 3rd quarter valued at about $200,000. Institutional investors and hedge funds own 77.51% of the company’s stock.
In other Huntsman news, CFO Sean Douglas acquired 7,500 shares of the company’s stock in a transaction on Wednesday, October 31st. The stock was acquired 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 owns 77,595 shares in the company, valued at approximately $1,665,964.65. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Peter R. Huntsman acquired 25,000 shares of the company’s stock in a transaction on Thursday, November 29th. The stock was acquired at an average price of $19.90 per share, with a total value of $497,500.00. Following the acquisition, the chief executive officer now owns 4,956,349 shares in the company, valued at approximately $98,631,345.10. The disclosure for this purchase can be found here. Insiders have purchased a total of 35,782 shares of company stock valued at $731,992 over the last 90 days. 19.00% of the stock is currently owned by company insiders.
Shares of HUN stock opened at $18.18 on Friday. The stock has a market cap of $4.56 billion, a P/E ratio of 5.36, a P/E/G ratio of 0.66 and a beta of 2.68. Huntsman Co. has a 1-year low of $18.13 and a 1-year high of $36.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.88 and a quick ratio of 1.51.
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 the consensus estimate of $0.82 by $0.02. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Huntsman had a return on equity of 22.96% and a net margin of 9.88%. Huntsman’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 EPS. As a group, equities research analysts expect that Huntsman Co. will post 3.39 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be issued a dividend of $0.1625 per share. This represents a $0.65 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Thursday, December 13th. Huntsman’s dividend payout ratio is presently 26.21%.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered Huntsman from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. KeyCorp reduced their price objective on Huntsman from $36.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 3rd. Nomura reduced their price objective on Huntsman from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 31st. Alembic Global Advisors set a $40.00 price objective on Huntsman and gave the company a “buy” rating in a research report on Tuesday, October 30th. Finally, Citigroup reduced their price objective on Huntsman from $30.00 to $25.50 and set a “neutral” rating on the stock in a research report on Friday, November 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.13.
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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.
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