Eaton Vance Management purchased a new position in Huntsman Co. (NYSE:HUN) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 31,350 shares of the basic materials company’s stock, valued at approximately $917,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Great Lakes Advisors LLC boosted its position in shares of Huntsman by 42.5% in the 1st quarter. Great Lakes Advisors LLC now owns 113,400 shares of the basic materials company’s stock worth $3,317,000 after purchasing an additional 33,830 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Huntsman by 27.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 163,570 shares of the basic materials company’s stock valued at $4,785,000 after acquiring an additional 35,099 shares in the last quarter. LSV Asset Management lifted its position in Huntsman by 3.9% in the 1st quarter. LSV Asset Management now owns 10,326,792 shares of the basic materials company’s stock valued at $302,058,000 after acquiring an additional 387,069 shares in the last quarter. AGF Investments Inc. lifted its position in Huntsman by 16.8% in the 1st quarter. AGF Investments Inc. now owns 49,486 shares of the basic materials company’s stock valued at $1,447,000 after acquiring an additional 7,132 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in Huntsman by 25.7% in the 1st quarter. First Eagle Investment Management LLC now owns 1,473,653 shares of the basic materials company’s stock valued at $43,104,000 after acquiring an additional 300,843 shares in the last quarter. 79.34% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on HUN shares. Citigroup upped their price objective on Huntsman from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Instinet reaffirmed a “neutral” rating on shares of Huntsman in a research report on Tuesday, March 20th. Jefferies Group upped their price objective on Huntsman to $43.00 and gave the company a “buy” rating in a research report on Friday, January 26th. MED reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Huntsman in a research report on Tuesday, May 1st. Finally, ValuEngine cut Huntsman from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Huntsman has an average rating of “Buy” and a consensus target price of $36.27.
Huntsman (NYSE:HUN) last released its quarterly earnings results on Tuesday, May 1st. The basic materials company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.19. The firm had revenue of $2.30 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 EPS. analysts forecast that Huntsman Co. will post 3.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a dividend of $0.1625 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.65 annualized dividend and a dividend yield of 2.03%. Huntsman’s payout ratio is 26.21%.
Huntsman declared that its board has authorized a stock repurchase plan on Friday, February 23rd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the basic materials company to purchase shares of its stock through open market purchases. Shares buyback 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 stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $32.69, for a total transaction of $526,505.14. Following the transaction, the vice president now directly owns 393,973 shares of the company’s stock, valued at approximately $12,878,977.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 19.00% of the stock is owned by corporate 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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