Eagle Asset Management Inc. lessened its holdings in shares of Huntsman Co. (NYSE:HUN) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,565,875 shares of the basic materials company’s stock after selling 27,085 shares during the quarter. Eagle Asset Management Inc. owned approximately 1.12% of Huntsman worth $59,682,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. Wells Fargo & Company MN lifted its stake in shares of Huntsman by 12.9% during the 2nd quarter. Wells Fargo & Company MN now owns 3,450,438 shares of the basic materials company’s stock worth $70,527,000 after purchasing an additional 395,569 shares during the period. Invesco Ltd. lifted its stake in shares of Huntsman by 37.2% during the 2nd quarter. Invesco Ltd. now owns 3,093,714 shares of the basic materials company’s stock worth $63,235,000 after purchasing an additional 838,161 shares during the period. Anchor Capital Advisors LLC lifted its stake in shares of Huntsman by 15.8% during the 2nd quarter. Anchor Capital Advisors LLC now owns 2,027,109 shares of the basic materials company’s stock worth $41,434,000 after purchasing an additional 276,435 shares during the period. Rothschild & Co. Asset Management US Inc. purchased a new position in shares of Huntsman during the 2nd quarter worth $39,675,000. Finally, Goldentree Asset Management LP lifted its stake in shares of Huntsman by 47.8% during the 2nd quarter. Goldentree Asset Management LP now owns 1,858,591 shares of the basic materials company’s stock worth $38,027,000 after purchasing an additional 600,940 shares during the period. 74.43% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on the company. Alembic Global Advisors raised Huntsman from a “neutral” rating to an “overweight” rating in a research note on Monday, September 23rd. SunTrust Banks reduced their price target on Huntsman to $29.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. BNP Paribas lowered Huntsman from an “outperform” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research note on Wednesday, October 16th. Nomura reissued a “buy” rating and set a $26.00 price target on shares of Huntsman in a research note on Sunday, August 11th. Finally, ValuEngine raised Huntsman from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Huntsman currently has a consensus rating of “Hold” and an average target price of $26.25.
Huntsman (NYSE:HUN) last released its quarterly earnings data on Friday, October 25th. The basic materials company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.82 billion. Huntsman had a positive return on equity of 17.06% and a negative net margin of 0.99%. The company’s quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 earnings per share. As a group, analysts expect that Huntsman Co. will post 1.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.1625 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 2.77%. Huntsman’s payout ratio is 19.46%.
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.
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