QS Investors LLC lifted its stake in shares of Huntsman Corporation (NYSE:HUN) by 17,580.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,871 shares of the basic materials company’s stock after buying an additional 55,555 shares during the quarter. QS Investors LLC’s holdings in Huntsman Corporation were worth $1,444,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. boosted its holdings in Huntsman Corporation by 95.5% in the first quarter. UBS Asset Management Americas Inc. now owns 287,493 shares of the basic materials company’s stock worth $7,055,000 after purchasing an additional 140,433 shares during the period. Mutual of America Capital Management LLC boosted its holdings in Huntsman Corporation by 19.9% in the first quarter. Mutual of America Capital Management LLC now owns 15,345 shares of the basic materials company’s stock worth $377,000 after purchasing an additional 2,552 shares during the period. M&T Bank Corp boosted its holdings in Huntsman Corporation by 2.6% in the first quarter. M&T Bank Corp now owns 11,443 shares of the basic materials company’s stock worth $282,000 after purchasing an additional 293 shares during the period. KBC Group NV boosted its holdings in Huntsman Corporation by 107.8% in the first quarter. KBC Group NV now owns 23,942 shares of the basic materials company’s stock worth $588,000 after purchasing an additional 12,418 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Huntsman Corporation in the first quarter worth $122,000. 75.10% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Huntsman Corporation from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Wednesday. BidaskClub raised shares of Huntsman Corporation from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Instinet reiterated a “buy” rating and issued a $34.00 target price (up from $30.00) on shares of Huntsman Corporation in a research note on Wednesday, September 20th. Wells Fargo & Company upgraded Huntsman Corporation from a “market perform” rating to an “outperform” rating and raised their target price for the company from $30.00 to $32.00 in a research note on Thursday, September 28th. Finally, KeyCorp upgraded Huntsman Corporation from a “sector weight” rating to an “overweight” rating and set a $34.00 target price on the stock in a research note on Monday, July 24th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $30.60.
Huntsman Corporation (NYSE:HUN) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.18. Huntsman Corporation had a return on equity of 30.04% and a net margin of 4.33%. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, analysts expect that Huntsman Corporation will post $2.33 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.84%. The ex-dividend date was Thursday, September 14th. Huntsman Corporation’s payout ratio is 28.41%.
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About Huntsman Corporation
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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