Wedge Capital Management L L P NC Boosts Stake in Huntsman Co. (NYSE:HUN)

Wedge Capital Management L L P NC raised its position in Huntsman Co. (NYSE:HUN) by 25.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 382,405 shares of the basic materials company’s stock after purchasing an additional 76,876 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Huntsman were worth $7,816,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. raised its position in Huntsman by 1.3% in the 1st quarter. BlackRock Inc. now owns 15,541,338 shares of the basic materials company’s stock worth $349,525,000 after purchasing an additional 194,288 shares during the period. Dimensional Fund Advisors LP raised its position in Huntsman by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,682,522 shares of the basic materials company’s stock worth $109,615,000 after purchasing an additional 19,446 shares during the period. Geode Capital Management LLC raised its position in Huntsman by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 3,760,365 shares of the basic materials company’s stock worth $72,537,000 after purchasing an additional 249,417 shares during the period. Carillon Tower Advisers Inc. raised its position in Huntsman by 61.3% in the 1st quarter. Carillon Tower Advisers Inc. now owns 2,811,189 shares of the basic materials company’s stock worth $63,223,000 after purchasing an additional 1,068,025 shares during the period. Finally, Eagle Asset Management Inc. raised its position in Huntsman by 7.5% in the 1st quarter. Eagle Asset Management Inc. now owns 2,557,406 shares of the basic materials company’s stock worth $57,516,000 after purchasing an additional 178,022 shares during the period. 78.58% of the stock is currently owned by institutional investors.

Shares of NYSE:HUN traded down $0.17 during trading on Thursday, reaching $18.80. 69,180 shares of the company were exchanged, compared to its average volume of 2,705,790. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 5.67, a PEG ratio of 1.00 and a beta of 2.29. The business’s fifty day simple moving average is $20.19. Huntsman Co. has a 12-month low of $17.33 and a 12-month high of $33.04. The company has a quick ratio of 1.16, a current ratio of 1.83 and a debt-to-equity ratio of 0.96.

Huntsman (NYSE:HUN) last issued its earnings results on Tuesday, July 30th. The basic materials company reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.02). The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Huntsman had a positive return on equity of 18.68% and a negative net margin of 1.37%. The business’s revenue was down 8.7% compared to the same quarter last year. During the same period last year, the business posted $1.01 earnings per share. On average, sell-side analysts expect that Huntsman Co. will post 2.3 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.1625 per share. This represents a $0.65 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Thursday, September 12th. Huntsman’s dividend payout ratio (DPR) is presently 19.46%.

In related news, VP David M. Stryker bought 2,000 shares of Huntsman stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average cost of $19.01 per share, with a total value of $38,020.00. Following the completion of the transaction, the vice president now owns 179,930 shares in the company, valued at approximately $3,420,469.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.60% of the company’s stock.

A number of analysts recently weighed in on the stock. Barclays reissued a “sell” rating and issued a $19.00 price objective on shares of Huntsman in a research report on Wednesday, July 31st. Jefferies Financial Group reduced their price objective on shares of Huntsman from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, June 17th. Citigroup set a $21.00 price objective on shares of Huntsman and gave the stock a “hold” rating in a research report on Monday, July 15th. UBS Group set a $26.00 target price on shares of Huntsman and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, KeyCorp reduced their target price on shares of Huntsman from $28.00 to $27.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Huntsman presently has a consensus rating of “Hold” and a consensus target price of $27.36.

Huntsman Company Profile

Huntsman Corporation 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.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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Institutional Ownership by Quarter for Huntsman (NYSE:HUN)

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