Huntsman Corporation (HUN) Releases Earnings Results, Beats Expectations By $0.06 EPS
Huntsman Corporation (NYSE:HUN) announced its earnings results on Wednesday. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. Huntsman Corporation had a net margin of 2.11% and a return on equity of 25.26%. The business earned $2.40 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the prior year, the company earned $0.51 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year.
Shares of Huntsman Corporation (NYSE:HUN) opened at 21.60 on Friday. The stock has a 50 day moving average of $20.24 and a 200-day moving average of $18.02. Huntsman Corporation has a one year low of $8.86 and a one year high of $22.37. The stock has a market capitalization of $5.14 billion, a PE ratio of 25.59 and a beta of 2.61.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be issued a $0.125 dividend. The ex-dividend date is Monday, March 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.31%. Huntsman Corporation’s payout ratio is 58.82%.
HUN has been the subject of a number of research reports. Zacks Investment Research raised shares of Huntsman Corporation from a “sell” rating to a “hold” rating in a report on Friday, October 28th. Goldman Sachs Group, Inc. (The) cut shares of Huntsman Corporation from a “buy” rating to a “neutral” rating and upped their target price for the company from $20.51 to $23.00 in a report on Monday, December 12th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $18.80.
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In related news, VP Russell R. Stolle sold 59,361 shares of Huntsman Corporation stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $21.42, for a total transaction of $1,271,512.62. Following the sale, the vice president now owns 113,098 shares of the company’s stock, valued at approximately $2,422,559.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Russell R. Stolle sold 7,511 shares of Huntsman Corporation stock in a transaction on Friday, January 13th. The stock was sold at an average price of $20.30, for a total transaction of $152,473.30. Following the sale, the vice president now directly owns 87,410 shares in the company, valued at approximately $1,774,423. The disclosure for this sale can be found here. Insiders have sold a total of 111,137 shares of company stock worth $2,375,683 in the last ninety days. 19.68% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC purchased a new stake in Huntsman Corporation during the third quarter valued at about $109,000. Catalyst Capital Advisors LLC purchased a new stake in Huntsman Corporation during the third quarter valued at about $151,000. Creative Planning increased its stake in Huntsman Corporation by 24.8% in the third quarter. Creative Planning now owns 10,325 shares of the company’s stock valued at $168,000 after buying an additional 2,055 shares during the period. Brinker Capital Inc. purchased a new stake in Huntsman Corporation during the third quarter valued at about $173,000. Finally, World Asset Management Inc purchased a new stake in Huntsman Corporation during the third quarter valued at about $175,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.
About Huntsman Corporation
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). It operates in five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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