ClariVest Asset Management LLC reduced its holdings in shares of Huntsman Co. (NYSE:HUN) by 13.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 340,036 shares of the basic materials company’s stock after selling 52,199 shares during the period. ClariVest Asset Management LLC owned 0.14% of Huntsman worth $9,325,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. DSAM Partners London Ltd bought a new stake in Huntsman during the 2nd quarter valued at about $2,128,000. Chicago Equity Partners LLC increased its stake in Huntsman by 1,462.7% during the 2nd quarter. Chicago Equity Partners LLC now owns 443,035 shares of the basic materials company’s stock valued at $11,448,000 after purchasing an additional 414,685 shares in the last quarter. CIBC World Markets Inc. increased its stake in Huntsman by 133.4% during the 2nd quarter. CIBC World Markets Inc. now owns 708,530 shares of the basic materials company’s stock valued at $18,308,000 after purchasing an additional 404,905 shares in the last quarter. Royal Bank of Canada increased its stake in Huntsman by 58.6% during the 2nd quarter. Royal Bank of Canada now owns 398,112 shares of the basic materials company’s stock valued at $10,287,000 after purchasing an additional 147,090 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in Huntsman by 0.6% during the 1st quarter. New York State Teachers Retirement System now owns 17,600 shares of the basic materials company’s stock valued at $432,000 after purchasing an additional 100 shares in the last quarter. 74.47% of the stock is owned by institutional investors.
A number of brokerages have recently commented on HUN. KeyCorp reiterated a “buy” rating and issued a $34.00 price target on shares of Huntsman in a research note on Friday, September 1st. Wells Fargo & Company upgraded shares of Huntsman from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $30.00 to $32.00 in a research note on Thursday, September 28th. UBS AG lifted their price target on shares of Huntsman from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Nomura lifted their price target on shares of Huntsman to $40.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Finally, BidaskClub lowered shares of Huntsman from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Huntsman presently has an average rating of “Buy” and an average target price of $31.55.
Shares of Huntsman Co. (NYSE HUN) traded up $0.31 during midday trading on Friday, reaching $30.55. 3,660,404 shares of the company traded hands, compared to its average volume of 3,669,181. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.87 and a quick ratio of 1.52. The company has a market capitalization of $7,060.00, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.44 and a beta of 2.87. Huntsman Co. has a 12 month low of $18.18 and a 12 month high of $32.59.
Huntsman (NYSE:HUN) last announced its earnings results on Friday, October 27th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.17. Huntsman had a net margin of 5.35% and a return on equity of 17.84%. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period in the previous year, the business posted $0.38 earnings per share. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. analysts predict that Huntsman Co. will post 2.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, December 14th. Huntsman’s dividend payout ratio is currently 29.07%.
In other news, Chairman Jon M. Huntsman sold 383,610 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $31.58, for a total value of $12,114,403.80. Following the transaction, the chairman now owns 115,206 shares of the company’s stock, valued at $3,638,205.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony P. Hankins sold 80,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $31.88, for a total transaction of $2,550,400.00. Following the completion of the transaction, the chief executive officer now directly owns 442,615 shares in the company, valued at approximately $14,110,566.20. The disclosure for this sale can be found here. Insiders have sold 1,056,190 shares of company stock worth $33,429,051 in the last ninety days. Insiders own 19.00% of the company’s stock.
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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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