Amalgamated Bank grew its holdings in Huntsman Co. (NYSE:HUN) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 39,304 shares of the basic materials company’s stock after buying an additional 2,215 shares during the period. Amalgamated Bank’s holdings in Huntsman were worth $1,308,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Assetmark Inc. increased its holdings in shares of Huntsman by 183.8% in the 4th quarter. Assetmark Inc. now owns 11,279 shares of the basic materials company’s stock valued at $375,000 after purchasing an additional 7,305 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Huntsman by 311.2% in the 4th quarter. Mackenzie Financial Corp now owns 365,619 shares of the basic materials company’s stock valued at $12,171,000 after purchasing an additional 276,699 shares during the period. Ascend Capital LLC acquired a new position in shares of Huntsman in the 4th quarter valued at about $5,894,000. Eagle Global Advisors LLC acquired a new position in shares of Huntsman in the 4th quarter valued at about $233,000. Finally, EAM Investors LLC acquired a new position in shares of Huntsman in the 4th quarter valued at about $2,434,000. Institutional investors own 74.87% of the company’s stock.
A number of equities analysts have recently weighed in on the company. KeyCorp upped their target price on Huntsman from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Goldman Sachs Group reiterated a “hold” rating and issued a $36.00 target price on shares of Huntsman in a report on Monday, December 4th. JPMorgan Chase & Co. assumed coverage on Huntsman in a report on Wednesday, December 13th. They issued an “overweight” rating and a $36.00 target price on the stock. ValuEngine upgraded Huntsman from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Finally, Jefferies Group upped their target price on Huntsman to $43.00 and gave the company a “buy” rating in a report on Friday, January 26th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $35.92.
Huntsman (NYSE:HUN) last announced its quarterly earnings results on Friday, February 23rd. The basic materials company reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.10. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Huntsman had a return on equity of 29.30% and a net margin of 6.73%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 EPS. research analysts expect that Huntsman Co. will post 2.74 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be paid a $0.1625 dividend. This is a boost from Huntsman’s previous quarterly dividend of $0.13. The ex-dividend date is Wednesday, March 14th. This represents a $0.65 annualized dividend and a dividend yield of 2.00%. Huntsman’s payout ratio is presently 28.74%.
Huntsman announced that its Board of Directors has initiated a share repurchase program on Friday, February 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the basic materials company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In related news, CEO Anthony P. Hankins sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $33.24, for a total value of $3,324,000.00. Following the completion of the sale, the chief executive officer now owns 462,615 shares of the company’s stock, valued at approximately $15,377,322.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Corp Huntsman sold 1,948,955 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $21.66, for a total value of $42,214,365.30. The disclosure for this sale can be found here. In the last three months, insiders sold 2,150,955 shares of company stock valued at $48,905,165. 19.00% of the stock is currently owned by company insiders.
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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