Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Huntsman Co. (NYSE:HUN) by 20.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,565 shares of the basic materials company’s stock after selling 3,200 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Huntsman were worth $257,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Icon Wealth Partners LLC bought a new stake in Huntsman in the first quarter valued at about $28,000. Meridian Wealth Management LLC bought a new stake in Huntsman in the first quarter valued at about $37,000. FinTrust Capital Advisors LLC increased its holdings in Huntsman by 130.2% in the first quarter. FinTrust Capital Advisors LLC now owns 2,021 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 1,143 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Huntsman by 67.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 2,305 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 931 shares during the last quarter. Finally, Pearl River Capital LLC bought a new stake in Huntsman in the first quarter valued at about $54,000. Institutional investors and hedge funds own 75.32% of the company’s stock.
In related news, VP David M. Stryker purchased 2,000 shares of Huntsman stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost of $19.01 per share, with a total value of $38,020.00. Following the completion of the transaction, the vice president now owns 179,930 shares of the company’s stock, valued at approximately $3,420,469.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.60% of the company’s stock.
Huntsman (NYSE:HUN) last posted its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02). The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.28 billion. Huntsman had a positive return on equity of 18.68% and a negative net margin of 1.37%. The firm’s quarterly revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 earnings per share. As a group, research analysts forecast that Huntsman Co. will post 2.3 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.1625 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.65 annualized dividend and a yield of 3.36%. Huntsman’s dividend payout ratio (DPR) is presently 19.46%.
A number of equities research analysts recently commented on the company. Jefferies Financial Group dropped their price objective on Huntsman from $33.00 to $30.00 and set a “buy” rating for the company in a report on Monday, June 17th. Barclays restated a “sell” rating and issued a $19.00 price target on shares of Huntsman in a report on Wednesday, July 31st. Nomura restated a “buy” rating and issued a $26.00 price target on shares of Huntsman in a report on Sunday, August 11th. KeyCorp lowered their price target on Huntsman from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Finally, ValuEngine upgraded Huntsman from a “strong sell” rating to a “sell” rating in a report on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Huntsman presently has a consensus rating of “Hold” and a consensus price target of $27.36.
Huntsman Company Profile
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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