Royce & Associates LP Decreases Position in Huntsman Corporation (HUN)
Royce & Associates LP decreased its stake in shares of Huntsman Corporation (NYSE:HUN) by 32.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 569,900 shares of the basic materials company’s stock after selling 275,000 shares during the period. Royce & Associates LP owned approximately 0.24% of Huntsman Corporation worth $14,726,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Huntsman Corporation during the first quarter valued at about $122,000. Opera Trading Capital bought a new position in Huntsman Corporation during the second quarter valued at $129,000. CIBC Asset Management Inc bought a new position in Huntsman Corporation during the second quarter valued at $207,000. World Asset Management Inc bought a new position in Huntsman Corporation during the first quarter valued at $241,000. Finally, Asset Management One Co. Ltd. bought a new position in Huntsman Corporation during the first quarter valued at $262,000. 75.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of Huntsman Corporation (HUN) opened at 26.52 on Thursday. Huntsman Corporation has a one year low of $14.16 and a one year high of $28.30. The company has a market capitalization of $6.37 billion, a P/E ratio of 15.03 and a beta of 2.81. The firm has a 50 day moving average price of $26.30 and a 200 day moving average price of $24.53.
Huntsman Corporation (NYSE:HUN) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.18. Huntsman Corporation had a net margin of 4.33% and a return on equity of 30.04%. The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the company earned $0.53 EPS. Huntsman Corporation’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts predict that Huntsman Corporation will post $2.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, September 14th. Huntsman Corporation’s dividend payout ratio (DPR) is 28.41%.
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Several equities analysts have weighed in on the company. Zacks Investment Research lowered Huntsman Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. BidaskClub raised Huntsman Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. KeyCorp raised Huntsman Corporation from a “sector weight” rating to an “overweight” rating and set a $34.00 target price on the stock in a research note on Monday, July 24th. Jefferies Group LLC cut their target price on Huntsman Corporation from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, May 22nd. Finally, Instinet reissued a “buy” rating and issued a $30.00 target price on shares of Huntsman Corporation in a research note on Sunday, July 9th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $29.00.
In related news, VP Randy W. Wright sold 32,962 shares of Huntsman Corporation stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $25.75, for a total transaction of $848,771.50. Following the transaction, the vice president now owns 69,148 shares in the company, valued at approximately $1,780,561. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Randy W. Wright sold 56,675 shares of Huntsman Corporation stock in a transaction on Friday, June 30th. The shares were sold at an average price of $25.76, for a total transaction of $1,459,948.00. Following the transaction, the vice president now owns 66,023 shares in the company, valued at approximately $1,700,752.48. The disclosure for this sale can be found here. 19.00% of the stock is currently owned by insiders.
Huntsman Corporation 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). The Company operates through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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