Huntsman Corporation (HUN) Shares Bought by Commonwealth Bank of Australia
Commonwealth Bank of Australia grew its stake in Huntsman Corporation (NYSE:HUN) by 6.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,454 shares of the basic materials company’s stock after buying an additional 3,900 shares during the quarter. Commonwealth Bank of Australia’s holdings in Huntsman were worth $1,708,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. DSAM Partners London Ltd purchased a new position in Huntsman in the second quarter valued at $2,128,000. Chicago Equity Partners LLC lifted its position in shares of Huntsman by 1,462.7% in the second quarter. Chicago Equity Partners LLC now owns 443,035 shares of the basic materials company’s stock worth $11,448,000 after purchasing an additional 414,685 shares in the last quarter. CIBC World Markets Inc. lifted its position in shares of Huntsman by 133.4% in the second quarter. CIBC World Markets Inc. now owns 708,530 shares of the basic materials company’s stock worth $18,308,000 after purchasing an additional 404,905 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Huntsman by 58.6% in the second quarter. Royal Bank of Canada now owns 398,112 shares of the basic materials company’s stock worth $10,287,000 after purchasing an additional 147,090 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Huntsman by 16.4% in the second quarter. Pacer Advisors Inc. now owns 35,389 shares of the basic materials company’s stock worth $914,000 after purchasing an additional 4,982 shares in the last quarter. Institutional investors own 75.47% of the company’s stock.
Shares of Huntsman Corporation (HUN) traded down $0.09 on Tuesday, hitting $31.72. 298,021 shares of the stock traded hands, compared to its average volume of 3,656,723. The company has a market capitalization of $7,613.06, a price-to-earnings ratio of 13.27, a PEG ratio of 1.47 and a beta of 2.85. Huntsman Corporation has a 52 week low of $18.93 and a 52 week 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, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.17. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.99 billion. Huntsman had a net margin of 5.37% and a return on equity of 30.64%. The company’s revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share. sell-side analysts expect that Huntsman Corporation will post 2.7 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, December 14th. Huntsman’s payout ratio is presently 23.47%.
In related news, CEO Anthony P. Hankins sold 80,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $31.88, for a total value of $2,550,400.00. Following the transaction, the chief executive officer now directly owns 442,615 shares in the company, valued at $14,110,566.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary C. Beckerle sold 4,507 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $30.76, for a total transaction of $138,635.32. The disclosure for this sale can be found here. Insiders sold 1,056,190 shares of company stock worth $33,429,051 over the last three months. Insiders own 19.00% of the company’s stock.
A number of brokerages have recently commented on HUN. Goldman Sachs Group began coverage on shares of Huntsman in a research report on Monday. They issued a “neutral” rating on the stock. Alembic Global Advisors reaffirmed a “buy” rating on shares of Huntsman in a research report on Monday, November 6th. UBS upped their price target on shares of Huntsman from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Nomura upped their price target on shares of Huntsman to $40.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, SunTrust Banks reissued a “buy” rating and issued a $32.00 price objective on shares of Huntsman in a research report on Friday, October 27th. They noted that the move was a valuation call. Two 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 stock. Huntsman presently has an average rating of “Buy” and an average price target of $31.55.
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Huntsman 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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