Prudential Financial Inc. grew its stake in Huntsman Co. (NYSE:HUN) by 45.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,613,035 shares of the basic materials company’s stock after purchasing an additional 506,285 shares during the quarter. Prudential Financial Inc. owned about 0.67% of Huntsman worth $47,182,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of HUN. Convergence Investment Partners LLC increased its position in shares of Huntsman by 108.9% in the 4th quarter. Convergence Investment Partners LLC now owns 123,231 shares of the basic materials company’s stock valued at $4,102,000 after buying an additional 64,243 shares in the last quarter. Bank of Montreal Can increased its position in shares of Huntsman by 138.9% in the 4th quarter. Bank of Montreal Can now owns 1,244,516 shares of the basic materials company’s stock valued at $41,429,000 after buying an additional 723,537 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Huntsman by 3.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 760,869 shares of the basic materials company’s stock valued at $25,330,000 after buying an additional 24,992 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Huntsman in the 4th quarter valued at $439,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Huntsman in the 4th quarter valued at $133,000. 79.02% of the stock is currently owned by institutional investors.
HUN has been the subject of a number of recent analyst reports. Jefferies Group upped their price objective on shares of Huntsman to $43.00 and gave the company a “buy” rating in a research report on Friday, January 26th. ValuEngine cut shares of Huntsman from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 17th. KeyCorp upped their price objective on shares of Huntsman from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Nomura cut shares of Huntsman from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $40.00 to $36.00 in a research report on Tuesday, March 20th. Finally, Instinet restated a “neutral” rating on shares of Huntsman in a research report on Tuesday, March 20th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $36.27.
Huntsman (NYSE:HUN) last released its earnings results on Tuesday, May 1st. The basic materials company reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.19. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Huntsman had a return on equity of 27.32% and a net margin of 8.98%. The company’s revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. sell-side analysts forecast that Huntsman Co. will post 3.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a $0.1625 dividend. This represents a $0.65 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, June 14th. Huntsman’s payout ratio is 26.21%.
Huntsman declared that its Board of Directors has authorized a stock buyback plan on Friday, February 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the basic materials company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, VP J Kimo Esplin sold 16,106 shares of the firm’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $32.69, for a total value of $526,505.14. Following the completion of the transaction, the vice president now owns 393,973 shares in the company, valued at approximately $12,878,977.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.00% of the stock is owned by company insiders.
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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