First Manhattan Co. decreased its holdings in Huntsman Corporation (NYSE:HUN) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,336 shares of the basic materials company’s stock after selling 3,425 shares during the quarter. First Manhattan Co.’s holdings in Huntsman Corporation were worth $2,723,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in HUN. BlackRock Inc. lifted its stake in shares of Huntsman Corporation by 12,556.8% in the first quarter. BlackRock Inc. now owns 10,242,161 shares of the basic materials company’s stock worth $251,343,000 after acquiring an additional 10,161,239 shares in the last quarter. CNH Partners LLC acquired a new position in shares of Huntsman Corporation in the second quarter worth about $173,105,000. Farallon Capital Management LLC acquired a new stake in Huntsman Corporation during the second quarter valued at approximately $140,053,000. Principal Financial Group Inc. raised its stake in Huntsman Corporation by 119.2% during the second quarter. Principal Financial Group Inc. now owns 4,809,158 shares of the basic materials company’s stock valued at $124,269,000 after buying an additional 2,615,454 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Huntsman Corporation by 90.4% during the second quarter. JPMorgan Chase & Co. now owns 5,391,025 shares of the basic materials company’s stock valued at $139,304,000 after buying an additional 2,559,069 shares in the last quarter. Institutional investors and hedge funds own 75.00% of the company’s stock.
Several analysts have issued reports on HUN shares. KeyCorp restated a “buy” rating and set a $34.00 price objective on shares of Huntsman Corporation in a research note on Friday, September 1st. Wells Fargo & Company upgraded Huntsman Corporation from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $30.00 to $32.00 in a research note on Thursday, September 28th. UBS AG upped their price objective on Huntsman Corporation from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Monday. Nomura upped their price objective on Huntsman Corporation to $40.00 and gave the company a “buy” rating in a research note on Monday. Finally, BidaskClub cut Huntsman Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $31.55.
Huntsman Corporation (NYSE:HUN) last announced its quarterly earnings results on Friday, October 27th. The basic materials company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.17. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Huntsman Corporation had a net margin of 5.37% and a return on equity of 30.64%. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 earnings per share.
In other Huntsman Corporation news, Chairman Jon M. Huntsman sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $32.32, for a total transaction of $3,232,000.00. Following the completion of the transaction, the chairman now owns 115,206 shares in the company, valued at $3,723,457.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Jon M. Huntsman sold 383,610 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $31.58, for a total transaction of $12,114,403.80. Following the transaction, the chairman now owns 115,206 shares of the company’s stock, valued at approximately $3,638,205.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 992,181 shares of company stock valued at $31,413,933. Corporate insiders own 19.00% of the company’s stock.
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Huntsman Corporation Profile
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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