Point72 Asset Management L.P. increased its position in Huntsman Corporation (NYSE:HUN) by 243.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,824,233 shares of the basic materials company’s stock after purchasing an additional 2,001,233 shares during the quarter. Point72 Asset Management L.P. owned approximately 1.18% of Huntsman worth $77,440,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware purchased a new position in shares of Huntsman in the 2nd quarter valued at approximately $106,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Huntsman in the 2nd quarter valued at approximately $109,000. Assetmark Inc. lifted its stake in shares of Huntsman by 1,658.4% in the 3rd quarter. Assetmark Inc. now owns 3,974 shares of the basic materials company’s stock valued at $109,000 after purchasing an additional 3,748 shares during the period. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Huntsman by 0.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,385 shares of the basic materials company’s stock valued at $139,000 after purchasing an additional 24 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Huntsman by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,281 shares of the basic materials company’s stock valued at $188,000 after purchasing an additional 610 shares during the period. Institutional investors own 75.47% of the company’s stock.
In other news, Director Mary C. Beckerle sold 4,507 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $30.76, for a total value of $138,635.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP J Kimo Esplin sold 240,793 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $30.99, for a total value of $7,462,175.07. Following the completion of the transaction, the vice president now owns 528,889 shares of the company’s stock, valued at approximately $16,390,270.11. The disclosure for this sale can be found here. Insiders sold 23,061,783 shares of company stock valued at $512,316,794 in the last 90 days. Company insiders own 19.00% of the company’s stock.
Huntsman (NYSE:HUN) last posted its quarterly earnings results on Friday, October 27th. The basic materials company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.17. Huntsman had a return on equity of 30.64% and a net margin of 5.37%. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the previous year, the business earned $0.38 earnings per share. The company’s revenue was up 18.5% on a year-over-year basis. sell-side analysts predict that Huntsman Corporation will post 2.7 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, December 14th. Huntsman’s dividend payout ratio is currently 29.07%.
A number of research analysts have recently commented on HUN shares. Zacks Investment Research upgraded Huntsman from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, October 11th. Alembic Global Advisors reiterated a “buy” rating on shares of Huntsman in a research note on Monday, October 2nd. BidaskClub upgraded Huntsman from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. ValuEngine upgraded Huntsman from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, KeyCorp reiterated a “buy” rating and set a $34.00 price objective on shares of Huntsman in a research note on Tuesday, October 17th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Huntsman has an average rating of “Buy” and a consensus target price of $32.73.
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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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