D. E. Shaw & Co. Inc. raised its holdings in Huntsman Co. (NYSE:HUN) by 65.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,571,754 shares of the basic materials company’s stock after acquiring an additional 620,978 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Huntsman were worth $45,314,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Laurion Capital Management LP bought a new position in Huntsman in the first quarter valued at approximately $4,357,000. Meeder Asset Management Inc. boosted its position in shares of Huntsman by 150,576.7% during the first quarter. Meeder Asset Management Inc. now owns 45,203 shares of the basic materials company’s stock worth $1,304,000 after purchasing an additional 45,173 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Huntsman by 9.5% during the first quarter. JPMorgan Chase & Co. now owns 472,326 shares of the basic materials company’s stock worth $13,618,000 after purchasing an additional 41,027 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Huntsman by 1,241.9% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 52,040 shares of the basic materials company’s stock worth $3,257,000 after purchasing an additional 48,162 shares in the last quarter. Finally, Cullen Capital Management LLC bought a new position in shares of Huntsman during the first quarter worth $829,000. 80.12% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on HUN shares. Wolfe Research started coverage on shares of Huntsman in a research report on Wednesday, June 9th. They set a “market perform” rating on the stock. Jefferies Financial Group boosted their price objective on shares of Huntsman from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, May 3rd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $33.00 price objective (down from $37.00) on shares of Huntsman in a research report on Monday, May 17th. Wells Fargo & Company cut their price objective on shares of Huntsman from $36.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 13th. Finally, Zacks Investment Research cut shares of Huntsman from a “buy” rating to a “hold” rating and set a $28.00 price objective on the stock. in a research report on Friday, June 11th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $30.82.
Huntsman (NYSE:HUN) last announced its earnings results on Thursday, April 29th. The basic materials company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. Huntsman had a net margin of 6.58% and a return on equity of 8.51%. Huntsman’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 EPS. Sell-side analysts anticipate that Huntsman Co. will post 2.8 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 30th. Investors of record on Tuesday, June 15th were issued a dividend of $0.1875 per share. This is an increase from Huntsman’s previous quarterly dividend of $0.16. The ex-dividend date was Monday, June 14th. This represents a $0.75 annualized dividend and a dividend yield of 2.91%. Huntsman’s payout ratio is presently 76.53%.
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 Performance Products segment manufactures amines and maleic anhydrides, including ethylene oxide, propylene oxide, glycols, ethylene dichloride, caustic soda, ammonia, hydrogen, methylamines, and acrylonitrile.
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