Geode Capital Management LLC grew its position in Huntsman Co. (NYSE:HUN) by 55.6% during the fourth quarter, Holdings Channel reports. The firm owned 2,611,740 shares of the basic materials company’s stock after buying an additional 933,105 shares during the period. Geode Capital Management LLC’s holdings in Huntsman were worth $86,943,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of HUN. Assetmark Inc. boosted its stake in shares of Huntsman by 1,658.4% in the 3rd quarter. Assetmark Inc. now owns 3,974 shares of the basic materials company’s stock valued at $109,000 after purchasing an additional 3,748 shares during the last quarter. Cerebellum GP LLC bought a new stake in shares of Huntsman in the 4th quarter valued at $128,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Huntsman in the 4th quarter valued at $133,000. American International Group Inc. bought a new stake in shares of Huntsman in the 4th quarter valued at $149,000. Finally, The Manufacturers Life Insurance Company boosted its stake 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 valued at $188,000 after purchasing an additional 610 shares during the last quarter. 76.04% of the stock is currently owned by institutional investors.
Huntsman Co. (NYSE:HUN) opened at $32.89 on Tuesday. The stock has a market cap of $7,867.94, a price-to-earnings ratio of 11.42, a P/E/G ratio of 1.44 and a beta of 2.71. Huntsman Co. has a 12 month low of $21.85 and a 12 month high of $36.09. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.50 and a current ratio of 1.83.
Huntsman declared that its board has authorized a stock buyback program on Friday, February 23rd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the basic materials company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be paid a dividend of $0.1625 per share. The ex-dividend date is Wednesday, March 14th. This is a positive change from Huntsman’s previous quarterly dividend of $0.13. This represents a $0.65 annualized dividend and a yield of 1.98%. Huntsman’s dividend payout ratio is currently 19.23%.
In related news, CEO Anthony P. Hankins sold 100,000 shares of the stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $33.24, for a total transaction of $3,324,000.00. Following the transaction, the chief executive officer now directly owns 462,615 shares of the company’s stock, valued at $15,377,322.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Monte G. Edlund sold 2,000 shares of the company’s stock in a transaction on Saturday, February 17th. The stock was sold at an average price of $21.40, for a total transaction of $42,800.00. Following the transaction, the insider now owns 52,696 shares in the company, valued at approximately $1,127,694.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,150,955 shares of company stock worth $48,905,165. 19.00% of the stock is owned by insiders.
HUN has been the topic of a number of analyst reports. Jefferies Group upped their price objective on shares of Huntsman to $43.00 and gave the company a “buy” rating in a research note on Friday, January 26th. KeyCorp upped their price objective on shares of Huntsman from $37.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Tudor Pickering initiated coverage on shares of Huntsman in a research note on Friday, January 19th. They issued a “buy” rating on the stock. Citigroup upped their price objective on shares of Huntsman from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Huntsman in a research note on Wednesday, December 13th. They issued an “overweight” rating and a $36.00 price objective on the stock. 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. Huntsman currently has an average rating of “Buy” and a consensus target price of $35.92.
TRADEMARK VIOLATION WARNING: “Geode Capital Management LLC Boosts Holdings in Huntsman Co. (HUN)” was reported by Ticker Report and is the property of of Ticker Report. If you are accessing this story on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this story can be read at https://www.tickerreport.com/banking-finance/3259335/geode-capital-management-llc-boosts-holdings-in-huntsman-co-hun.html.
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.
Want to see what other hedge funds are holding HUN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntsman Co. (NYSE:HUN).
Receive News & Ratings for Huntsman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntsman and related companies with MarketBeat.com's FREE daily email newsletter.