Goldman Sachs Group Inc. boosted its stake in Huntsman Co. (NYSE:HUN) by 63.4% in the fourth quarter, HoldingsChannel reports. The firm owned 1,815,685 shares of the basic materials company’s stock after buying an additional 704,366 shares during the period. Goldman Sachs Group Inc.’s holdings in Huntsman were worth $43,867,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of HUN. Covington Capital Management acquired a new stake in Huntsman in the third quarter worth $41,000. Parametric Portfolio Associates LLC grew its holdings in Huntsman by 27.9% in the third quarter. Parametric Portfolio Associates LLC now owns 1,553,748 shares of the basic materials company’s stock worth $36,140,000 after purchasing an additional 339,153 shares during the period. Sunbelt Securities Inc. acquired a new stake in Huntsman in the third quarter worth $299,000. Cullen Capital Management LLC acquired a new stake in Huntsman in the third quarter worth $221,000. Finally, Point72 Asset Management L.P. grew its holdings in Huntsman by 162.2% in the third quarter. Point72 Asset Management L.P. now owns 2,200,591 shares of the basic materials company’s stock worth $51,186,000 after purchasing an additional 1,361,317 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.
In other news, CEO Anthony P. Hankins purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were acquired at an average cost of $16.18 per share, for a total transaction of $32,360.00. Following the completion of the acquisition, the chief executive officer now owns 510,366 shares in the company, valued at $8,257,721.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Peter R. Huntsman purchased 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were purchased at an average price of $19.03 per share, for a total transaction of $142,725.00. Following the completion of the acquisition, the chief executive officer now owns 5,544,820 shares of the company’s stock, valued at approximately $105,517,924.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 44,625 shares of company stock worth $789,217. 5.60% of the stock is owned by corporate insiders.
HUN has been the subject of a number of research reports. Bank of America assumed coverage on shares of Huntsman in a report on Wednesday, January 15th. They issued a “buy” rating and a $27.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on shares of Huntsman from $21.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Citigroup reduced their price objective on shares of Huntsman from $28.00 to $24.00 and set a “buy” rating for the company in a report on Friday, February 14th. Wells Fargo & Co reduced their price objective on shares of Huntsman from $27.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, March 17th. Finally, KeyCorp assumed coverage on shares of Huntsman in a report on Wednesday. They set an “overweight” rating for the company. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Huntsman has an average rating of “Buy” and a consensus target price of $23.02.
Shares of NYSE HUN opened at $15.20 on Thursday. The stock has a market capitalization of $3.09 billion, a P/E ratio of 6.20, a P/E/G ratio of 1.81 and a beta of 2.26. The company has a 50-day moving average price of $18.27 and a 200-day moving average price of $21.78. Huntsman Co. has a 1 year low of $12.23 and a 1 year high of $25.66. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.87 and a quick ratio of 1.41.
Huntsman (NYSE:HUN) last released its quarterly earnings results on Thursday, February 13th. The basic materials company reported $0.29 earnings per share for the quarter, hitting the consensus estimate of $0.29. Huntsman had a net margin of 7.42% and a return on equity of 14.86%. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the company earned $0.52 earnings per share. The firm’s revenue for the quarter was down 25.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Huntsman Co. will post 1.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.1625 per share. This represents a $0.65 annualized dividend and a yield of 4.28%. The ex-dividend date is Thursday, March 12th. Huntsman’s dividend payout ratio (DPR) is presently 42.48%.
Huntsman Company Profile
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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