OLD National Bancorp IN Lowers Stake in Huntsman Corp. (HUN)
OLD National Bancorp IN decreased its stake in Huntsman Corp. (NYSE:HUN) by 26.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 11,506 shares of the company’s stock after selling 4,210 shares during the period. OLD National Bancorp IN’s holdings in Huntsman Corp. were worth $155,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of HUN. Creative Planning boosted its stake in shares of Huntsman Corp. by 2.5% in the second quarter. Creative Planning now owns 8,270 shares of the company’s stock valued at $111,000 after buying an additional 200 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Huntsman Corp. during the first quarter valued at $137,000. Loomis Sayles & Co. L P purchased a new stake in shares of Huntsman Corp. during the first quarter valued at $148,000. Traynor Capital Management Inc. purchased a new stake in shares of Huntsman Corp. during the second quarter valued at $168,000. Finally, Synovus Financial Corp boosted its stake in shares of Huntsman Corp. by 0.4% in the second quarter. Synovus Financial Corp now owns 12,693 shares of the company’s stock valued at $174,000 after buying an additional 52 shares during the period. 67.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of Huntsman Corp. (NYSE:HUN) traded down 0.75% during trading on Tuesday, hitting $14.58. 2,109,568 shares of the stock were exchanged. The stock’s 50 day moving average price is $16.33 and its 200 day moving average price is $14.88. The stock has a market cap of $3.47 billion, a PE ratio of 17.40 and a beta of 2.71. Huntsman Corp. has a one year low of $7.46 and a one year high of $18.12.
Huntsman Corp. (NYSE:HUN) last issued its earnings results on Wednesday, July 27th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.53. Huntsman Corp. had a return on equity of 26.60% and a net margin of 2.05%. The business earned $2.54 billion during the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. Equities research analysts predict that Huntsman Corp. will post $1.74 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Tuesday, September 13th. Huntsman Corp.’s payout ratio is currently 59.52%.
HUN has been the topic of several analyst reports. Zacks Investment Research raised shares of Huntsman Corp. from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Friday, July 1st. Jefferies Group reaffirmed a “buy” rating on shares of Huntsman Corp. in a report on Thursday, August 4th. Nomura reaffirmed a “buy” rating on shares of Huntsman Corp. in a report on Tuesday, July 12th. Finally, Citigroup Inc. raised their target price on shares of Huntsman Corp. from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $17.22.
Huntsman Corp. 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). It operates in five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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