Twin Capital Management Inc. Grows Position in Huntsman Corporation (HUN)
Twin Capital Management Inc. increased its position in shares of Huntsman Corporation (NYSE:HUN) by 18.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,580 shares of the basic materials company’s stock after purchasing an additional 19,020 shares during the period. Twin Capital Management Inc.’s holdings in Huntsman were worth $3,279,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. Assetmark Inc. raised its holdings in Huntsman by 1,658.4% in the 3rd quarter. Assetmark Inc. now owns 3,974 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 3,748 shares in the last quarter. Mckinley Capital Management LLC Delaware acquired a new position in Huntsman in the 2nd quarter valued at $106,000. Harvest Fund Management Co. Ltd acquired a new position in Huntsman in the 2nd quarter valued at $109,000. Bronfman E.L. Rothschild L.P. raised its holdings in Huntsman 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 acquiring an additional 24 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Huntsman by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,281 shares of the basic materials company’s stock valued at $188,000 after acquiring an additional 610 shares in the last quarter. 75.21% of the stock is owned by institutional investors and hedge funds.
In related news, Director Mary C. Beckerle sold 4,507 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $30.76, for a total transaction of $138,635.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP J Kimo Esplin sold 428,571 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $31.54, for a total value of $13,517,129.34. Following the completion of the sale, the vice president now owns 925,271 shares in the company, valued at approximately $29,183,047.34. The disclosure for this sale can be found here. Insiders have sold a total of 1,056,190 shares of company stock worth $33,429,051 in the last 90 days. 19.00% of the stock is currently owned by corporate insiders.
HUN has been the subject of several analyst reports. Zacks Investment Research raised Huntsman from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Wednesday, October 11th. Alembic Global Advisors reaffirmed a “buy” rating on shares of Huntsman in a report on Monday, October 2nd. BidaskClub upgraded Huntsman from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. ValuEngine upgraded Huntsman from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, KeyCorp reiterated a “buy” rating and issued a $34.00 price target on shares of Huntsman in a research note on Friday, September 1st. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Huntsman currently has a consensus rating of “Buy” and an average price target of $31.55.
Shares of Huntsman Corporation (HUN) traded down $0.49 during mid-day trading on Thursday, reaching $31.80. The company had a trading volume of 3,382,300 shares, compared to its average volume of 3,649,013. The company has a market cap of $7,749.86, a price-to-earnings ratio of 13.51, a P/E/G ratio of 1.52 and a beta of 2.87. Huntsman Corporation has a twelve month low of $18.18 and a twelve month high of $32.59. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.87 and a quick ratio of 1.52.
Huntsman (NYSE:HUN) last issued its quarterly earnings data on Friday, October 27th. The basic materials company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.17. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.99 billion. Huntsman had a return on equity of 30.64% and a net margin of 5.37%. Huntsman’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. sell-side analysts anticipate that Huntsman Corporation will post 2.65 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.125 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.50 dividend on an annualized basis and a yield of 1.57%. Huntsman’s dividend payout ratio is currently 23.47%.
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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