Iridian Asset Management LLC CT lowered its stake in Huntsman Co. (NYSE:HUN) by 11.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 5,197,566 shares of the basic materials company’s stock after selling 672,514 shares during the quarter. Iridian Asset Management LLC CT’s holdings in Huntsman were worth $116,893,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of HUN. Natixis Advisors L.P. acquired a new position in Huntsman in the fourth quarter worth approximately $840,000. Sonora Investment Management LLC boosted its position in Huntsman by 11.8% during the fourth quarter. Sonora Investment Management LLC now owns 98,289 shares of the basic materials company’s stock worth $1,896,000 after purchasing an additional 10,395 shares during the period. First Trust Advisors LP boosted its position in Huntsman by 8.4% during the fourth quarter. First Trust Advisors LP now owns 311,304 shares of the basic materials company’s stock worth $6,005,000 after purchasing an additional 24,009 shares during the period. Stone Ridge Asset Management LLC boosted its position in Huntsman by 71.9% during the fourth quarter. Stone Ridge Asset Management LLC now owns 20,919 shares of the basic materials company’s stock worth $404,000 after purchasing an additional 8,748 shares during the period. Finally, DNB Asset Management AS boosted its position in Huntsman by 62.8% during the fourth quarter. DNB Asset Management AS now owns 769,024 shares of the basic materials company’s stock worth $14,834,000 after purchasing an additional 296,693 shares during the period. 77.14% of the stock is owned by institutional investors and hedge funds.
HUN has been the subject of several research reports. ValuEngine raised Huntsman from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. cut Huntsman from an “overweight” rating to a “neutral” rating and set a $24.00 price objective for the company. in a research report on Wednesday, February 13th. Royal Bank of Canada reduced their price objective on Huntsman from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, March 19th. Barclays set a $21.00 price objective on Huntsman and gave the company a “sell” rating in a research report on Tuesday, March 19th. Finally, KeyCorp reduced their price objective on Huntsman from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $30.05.
Huntsman (NYSE:HUN) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Huntsman had a return on equity of 19.90% and a net margin of 2.00%. Huntsman’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 earnings per share. Equities analysts predict that Huntsman Co. will post 2.76 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.1625 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.65 annualized dividend and a yield of 3.25%. Huntsman’s dividend payout ratio (DPR) is currently 19.46%.
Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates in four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.
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