Sunbelt Securities Inc. acquired a new position in shares of Huntsman Co. (NYSE:HUN) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 12,849 shares of the basic materials company’s stock, valued at approximately $299,000.
Other hedge funds also recently modified their holdings of the company. Usca Ria LLC acquired a new stake in Huntsman during the third quarter worth approximately $35,000. Covington Capital Management acquired a new stake in Huntsman during the third quarter worth approximately $41,000. Parkside Financial Bank & Trust lifted its position in Huntsman by 547.4% during the third quarter. Parkside Financial Bank & Trust now owns 1,897 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 1,604 shares during the last quarter. Howe & Rusling Inc. lifted its position in Huntsman by 856.2% during the third quarter. Howe & Rusling Inc. now owns 2,792 shares of the basic materials company’s stock worth $65,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Huntsman by 54.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 3,566 shares of the basic materials company’s stock worth $72,000 after acquiring an additional 1,261 shares during the last quarter. Hedge funds and other institutional investors own 73.05% of the company’s stock.
Several brokerages have issued reports on HUN. BNP Paribas downgraded shares of Huntsman from an “outperform” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research report on Wednesday, October 16th. Nomura reiterated a “buy” rating and issued a $26.00 price target on shares of Huntsman in a research report on Sunday, August 11th. Goldman Sachs Group upgraded shares of Huntsman from a “buy” rating to a “conviction-buy” rating and dropped their price target for the company from $29.00 to $23.21 in a research report on Monday, November 18th. Alembic Global Advisors upgraded shares of Huntsman from a “neutral” rating to an “overweight” rating in a research report on Monday, September 23rd. Finally, UBS Group lifted their price target on shares of Huntsman from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.60.
Huntsman (NYSE:HUN) last announced its quarterly earnings data on Friday, October 25th. The basic materials company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). Huntsman had a negative net margin of 0.99% and a positive return on equity of 17.06%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the company posted $0.84 EPS. Huntsman’s revenue for the quarter was down 14.3% on a year-over-year basis. Equities research analysts forecast that Huntsman Co. will post 1.53 EPS for the current year.
The business 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 annualized dividend and a dividend yield of 2.87%. Huntsman’s dividend payout ratio is currently 19.46%.
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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