Morse Asset Management Inc Sells 6,285 Shares of Huntsman Corporation (HUN)
Morse Asset Management Inc reduced its position in Huntsman Corporation (NYSE:HUN) by 4.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 152,505 shares of the basic materials company’s stock after selling 6,285 shares during the quarter. Huntsman Corporation comprises about 1.2% of Morse Asset Management Inc’s holdings, making the stock its 26th largest position. Morse Asset Management Inc owned approximately 0.06% of Huntsman Corporation worth $4,182,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware acquired a new position in Huntsman Corporation in the 2nd quarter valued at $106,000. Harvest Fund Management Co. Ltd acquired a new position in Huntsman Corporation in the 2nd quarter valued at $109,000. SG Americas Securities LLC acquired a new position in Huntsman Corporation in the 1st quarter valued at $122,000. Opera Trading Capital acquired a new position in Huntsman Corporation in the 2nd quarter valued at $129,000. Finally, Bronfman E.L. Rothschild L.P. increased its stake in Huntsman Corporation by 0.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,385 shares of the basic materials company’s stock valued at $139,000 after buying an additional 24 shares during the period. 75.00% of the stock is currently owned by institutional investors.
Huntsman Corporation (NYSE:HUN) last issued its quarterly earnings results on Friday, October 27th. The basic materials company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.17. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.99 billion. Huntsman Corporation had a return on equity of 30.64% and a net margin of 5.37%. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share.
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Several brokerages have issued reports on HUN. Nomura boosted their price objective on shares of Huntsman Corporation to $40.00 and gave the company a “buy” rating in a research note on Monday. UBS AG upped their price target on shares of Huntsman Corporation from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $32.00 price target on shares of Huntsman Corporation in a research note on Friday, October 27th. They noted that the move was a valuation call. KeyCorp reaffirmed a “buy” rating and set a $34.00 price target on shares of Huntsman Corporation in a research note on Tuesday, October 17th. Finally, Instinet reaffirmed a “buy” rating and set a $34.00 price target (up from $30.00) on shares of Huntsman Corporation in a research note on Wednesday, September 20th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Huntsman Corporation currently has an average rating of “Buy” and an average target price of $31.55.
In related news, Chairman Jon M. Huntsman sold 100,000 shares of Huntsman Corporation stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $32.32, for a total transaction of $3,232,000.00. Following the transaction, the chairman now directly owns 115,206 shares of the company’s stock, valued at $3,723,457.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Anthony P. Hankins sold 80,000 shares of Huntsman Corporation stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $31.88, for a total value of $2,550,400.00. Following the transaction, the chief executive officer now directly owns 442,615 shares in the company, valued at $14,110,566.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 992,181 shares of company stock worth $31,413,933. 19.00% of the stock is owned by corporate insiders.
Huntsman Corporation 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). The Company operates through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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