Marco Investment Management LLC lowered its position in shares of Huntsman Corporation (NYSE:HUN) by 28.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 223,000 shares of the basic materials company’s stock after selling 87,000 shares during the period. Marco Investment Management LLC owned 0.09% of Huntsman Corporation worth $5,472,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Norges Bank bought a new stake in shares of Huntsman Corporation during the fourth quarter valued at about $40,096,000. Systematic Financial Management LP increased its stake 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 valued at $44,955,000 after buying an additional 1,732,434 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Huntsman Corporation by 12.6% in the fourth quarter. AQR Capital Management LLC now owns 7,736,403 shares of the basic materials company’s stock valued at $147,610,000 after buying an additional 865,406 shares during the last quarter. Principal Financial Group Inc. increased its stake in 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 in the last quarter. Finally, FMR LLC increased its stake in Huntsman Corporation by 458.1% in the fourth quarter. FMR LLC now owns 892,871 shares of the basic materials company’s stock worth $17,036,000 after buying an additional 732,885 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.
Huntsman Corporation (NYSE:HUN) traded down 0.142% during mid-day trading on Tuesday, hitting $24.575. 3,052,758 shares of the company were exchanged. The company’s 50-day moving average is $24.82 and its 200 day moving average is $22.50. The company has a market capitalization of $5.89 billion, a P/E ratio of 17.161 and a beta of 2.77. Huntsman Corporation has a 12-month low of $12.40 and a 12-month high of $28.20.
Huntsman Corporation (NYSE:HUN) last posted its earnings results on Wednesday, April 26th. The basic materials company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.19. Huntsman Corporation had a net margin of 3.54% and a return on equity of 25.96%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the company posted $0.37 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts expect that Huntsman Corporation will post $2.20 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Tuesday, June 13th. Huntsman Corporation’s payout ratio is 34.97%.
A number of analysts have recently commented on HUN shares. Jefferies Group LLC dropped their price objective 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. Nomura reiterated a “buy” rating and set a $30.00 price target on shares of Huntsman Corporation in a report on Thursday, April 27th. Zacks Investment Research raised Huntsman Corporation from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Tuesday, April 18th. Citigroup Inc. raised Huntsman Corporation from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $24.54 to $28.00 in a research report on Monday, April 3rd. Finally, BidaskClub cut Huntsman Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $26.67.
In related news, insider Jon M. Huntsman sold 100,000 shares of the stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $24.66, for a total transaction of $2,466,000.00. Following the transaction, the insider now owns 598,816 shares of the company’s stock, valued at approximately $14,766,802.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Peter R. Huntsman bought 10,000 shares of Huntsman Corporation stock in a transaction that occurred on Wednesday, May 31st. The shares were acquired at an average cost of $23.83 per share, for a total transaction of $238,300.00. Following 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. Insiders sold a total of 250,197 shares of company stock worth $6,268,457 in the last three months. 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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