Gabelli Funds LLC reduced its position in shares of Huntsman Co. (NYSE:HUN) by 12.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,000 shares of the basic materials company’s stock after selling 15,000 shares during the period. Gabelli Funds LLC’s holdings in Huntsman were worth $2,396,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in Huntsman by 225.8% during the second quarter. Bessemer Group Inc. now owns 18,943 shares of the basic materials company’s stock worth $387,000 after purchasing an additional 13,129 shares during the last quarter. Scout Investments Inc. increased its position in Huntsman by 2.0% during the third quarter. Scout Investments Inc. now owns 1,117,680 shares of the basic materials company’s stock worth $25,997,000 after purchasing an additional 22,381 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Huntsman by 85.5% during the second quarter. Envestnet Asset Management Inc. now owns 473,808 shares of the basic materials company’s stock worth $9,685,000 after purchasing an additional 218,389 shares during the last quarter. Magnetar Financial LLC acquired a new stake in Huntsman during the second quarter worth about $208,000. Finally, Bank of Montreal Can increased its position in Huntsman by 25.8% during the second quarter. Bank of Montreal Can now owns 374,083 shares of the basic materials company’s stock worth $7,645,000 after purchasing an additional 76,621 shares during the last quarter. Hedge funds and other institutional investors own 74.43% of the company’s stock.
Shares of HUN traded down $0.22 during trading on Friday, reaching $23.48. 1,418,445 shares of the company traded hands, compared to its average volume of 2,493,616. Huntsman Co. has a twelve month low of $17.33 and a twelve month high of $25.66. The stock has a market cap of $5.44 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 1.89 and a beta of 2.34. The stock has a 50-day simple moving average of $22.84 and a 200-day simple moving average of $20.88. The company has a quick ratio of 1.45, a current ratio of 1.96 and a debt-to-equity ratio of 0.97.
Huntsman (NYSE:HUN) last announced its quarterly earnings results on Friday, October 25th. The basic materials company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.82 billion. Huntsman had a negative net margin of 0.99% and a positive return on equity of 17.06%. Huntsman’s revenue was down 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. On average, equities research analysts predict that Huntsman Co. will post 1.53 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.1625 dividend. This represents a $0.65 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Thursday, December 12th. Huntsman’s dividend payout ratio (DPR) is currently 19.46%.
HUN has been the subject of several recent analyst reports. SunTrust Banks cut their price objective on shares of Huntsman to $29.00 and set a “buy” rating for the company in a research report on Monday, October 28th. ValuEngine upgraded shares of Huntsman from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. TheStreet cut shares of Huntsman from a “b” rating to a “c+” rating in a research report on Tuesday, October 29th. Citigroup lifted their price target on shares of Huntsman from $21.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, UBS Group lifted their price target on shares of Huntsman from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $26.25.
Huntsman Corporation 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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