Huntsman Corporation (HUN) Shares Sold by Summit Securities Group LLC
Summit Securities Group LLC lowered its position in Huntsman Corporation (NYSE:HUN) by 75.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,500 shares of the basic materials company’s stock after selling 28,500 shares during the period. Summit Securities Group LLC’s holdings in Huntsman Corporation were worth $245,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its position in shares of Huntsman Corporation by 12,556.8% in the first quarter. BlackRock Inc. now owns 10,242,161 shares of the basic materials company’s stock worth $251,343,000 after buying an additional 10,161,239 shares during the period. Vanguard Group Inc. raised its position in shares of Huntsman Corporation by 18.9% in the first quarter. Vanguard Group Inc. now owns 22,043,506 shares of the basic materials company’s stock worth $540,948,000 after buying an additional 3,497,649 shares during the period. Systematic Financial Management LP raised its position in shares of Huntsman Corporation by 1,741.6% in the first quarter. Systematic Financial Management LP now owns 1,831,909 shares of the basic materials company’s stock worth $44,955,000 after buying an additional 1,732,434 shares during the period. Principal Financial Group Inc. raised its position in shares of Huntsman Corporation by 53.6% in the first quarter. Principal Financial Group Inc. now owns 2,193,704 shares of the basic materials company’s stock worth $53,834,000 after buying an additional 765,314 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Huntsman Corporation by 32.3% in the first quarter. Geode Capital Management LLC now owns 2,459,910 shares of the basic materials company’s stock worth $60,365,000 after buying an additional 600,177 shares during the period. Institutional investors own 70.74% of the company’s stock.
Shares of Huntsman Corporation (HUN) opened at 25.15 on Friday. Huntsman Corporation has a 52-week low of $14.16 and a 52-week high of $28.30. The company has a market capitalization of $6.04 billion, a PE ratio of 14.26 and a beta of 2.81. The stock’s 50 day moving average price is $26.29 and its 200-day moving average price is $24.18. Huntsman Corporation also was the target of unusually large options trading on Thursday. Stock traders acquired 28,560 call options on the stock. This is an increase of 1,450% compared to the average daily volume of 1,843 call options.
Huntsman Corporation (NYSE:HUN) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.18. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Huntsman Corporation had a return on equity of 30.04% and a net margin of 4.33%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.53 EPS. On average, analysts expect that Huntsman Corporation will post $2.22 earnings per share for the current year.
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HUN has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Huntsman Corporation from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Tuesday, April 18th. ValuEngine upgraded Huntsman Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 3rd. Nomura reiterated a “buy” rating and set a $30.00 price target on shares of Huntsman Corporation in a report on Thursday, April 27th. BidaskClub upgraded Huntsman Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Finally, Jefferies Group LLC cut their price target on Huntsman Corporation from $29.00 to $27.00 and set a “buy” rating for the company in a report on Monday, May 22nd. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $28.67.
In other news, CFO Sean Douglas purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was acquired at an average cost of $23.74 per share, with a total value of $59,350.00. Following the acquisition, the chief financial officer now owns 66,996 shares in the company, valued at approximately $1,590,485.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter R. Huntsman purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were purchased at an average cost of $23.83 per share, with a total value of $238,300.00. Following the completion of the acquisition, the chief executive officer now owns 4,042,720 shares in the company, valued at approximately $96,338,017.60. The disclosure for this purchase can be found here. Company insiders own 19.00% of the company’s stock.
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). The Company operates through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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