Convergence Investment Partners LLC lessened its stake in shares of Huntsman Corporation (NYSE:HUN) by 36.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,988 shares of the basic materials company’s stock after selling 34,078 shares during the quarter. Convergence Investment Partners LLC’s holdings in Huntsman were worth $1,617,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. boosted its position in Huntsman by 1,658.4% during the 3rd quarter. Assetmark Inc. now owns 3,974 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 3,748 shares in the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Huntsman in the 2nd quarter worth $106,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Huntsman in the 2nd quarter worth $109,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of Huntsman by 0.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,385 shares of the basic materials company’s stock worth $139,000 after purchasing an additional 24 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Huntsman by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,281 shares of the basic materials company’s stock worth $188,000 after purchasing an additional 610 shares in the last quarter. 75.47% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP J Kimo Esplin sold 428,571 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $31.54, for a total transaction of $13,517,129.34. Following the sale, the vice president now owns 925,271 shares in the company, valued at $29,183,047.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary C. Beckerle sold 4,507 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $30.76, for a total transaction of $138,635.32. The disclosure for this sale can be found here. Insiders have sold 22,820,990 shares of company stock valued at $504,854,619 in the last quarter. Insiders own 19.00% of the company’s stock.
Huntsman (NYSE:HUN) last released its quarterly earnings data 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 5.37% and a return on equity of 30.64%. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Huntsman’s revenue for the quarter was up 18.5% on a year-over-year basis. equities analysts expect that Huntsman Corporation will post 2.7 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.50 annualized dividend and a dividend yield of 1.66%. Huntsman’s dividend payout ratio (DPR) is 23.47%.
A number of analysts have recently weighed in on HUN shares. Instinet reissued a “buy” rating and issued a $34.00 price objective (up previously from $30.00) on shares of Huntsman in a research report on Wednesday, September 20th. Nomura raised their target price on Huntsman from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, September 19th. UBS lifted their price objective on Huntsman from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, September 19th. KeyCorp restated a “buy” rating and issued a $34.00 price target on shares of Huntsman in a research note on Friday, September 1st. Finally, SunTrust Banks restated a “buy” rating and issued a $32.00 price target on shares of Huntsman in a research note on Friday, October 27th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $32.73.
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Huntsman Company 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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