Two Sigma Advisers LP Has $92.47 Million Holdings in Huntsman Co. (HUN)
Two Sigma Advisers LP boosted its position in shares of Huntsman Co. (NYSE:HUN) by 57.8% during the 4th quarter, HoldingsChannel reports. The fund owned 2,777,590 shares of the basic materials company’s stock after buying an additional 1,017,607 shares during the quarter. Two Sigma Advisers LP’s holdings in Huntsman were worth $92,466,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of HUN. The Manufacturers Life Insurance Company raised its position in Huntsman by 9.1% during the second quarter. The Manufacturers Life Insurance Company now owns 7,281 shares of the basic materials company’s stock worth $188,000 after acquiring an additional 610 shares in the last quarter. State of Wisconsin Investment Board raised its position in Huntsman by 1,072.6% during the third quarter. State of Wisconsin Investment Board now owns 469,378 shares of the basic materials company’s stock worth $12,870,000 after acquiring an additional 429,349 shares in the last quarter. Swiss National Bank raised its position in Huntsman by 0.8% during the third quarter. Swiss National Bank now owns 340,774 shares of the basic materials company’s stock worth $9,344,000 after acquiring an additional 2,600 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Huntsman by 83.7% during the third quarter. BNP Paribas Arbitrage SA now owns 476,873 shares of the basic materials company’s stock worth $13,076,000 after acquiring an additional 217,277 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Huntsman by 1.9% during the third quarter. New York State Common Retirement Fund now owns 426,800 shares of the basic materials company’s stock worth $11,703,000 after acquiring an additional 8,000 shares in the last quarter. 76.04% of the stock is currently owned by hedge funds and other institutional investors.
Huntsman Co. (NYSE HUN) opened at $32.72 on Wednesday. The firm has a market cap of $7,950.13, a PE ratio of 12.58, a PEG ratio of 1.46 and a beta of 2.71. Huntsman Co. has a 1 year low of $21.92 and a 1 year high of $36.09. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.83 and a quick ratio of 1.50.
Huntsman declared that its board has approved a stock buyback plan on Friday, February 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the basic materials company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be paid a $0.1625 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This is an increase from Huntsman’s previous quarterly dividend of $0.13. This represents a $0.65 annualized dividend and a dividend yield of 1.99%. Huntsman’s dividend payout ratio is 19.23%.
In related news, CEO Anthony P. Hankins sold 100,000 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $33.24, for a total value of $3,324,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Monte G. Edlund sold 2,000 shares of the company’s stock in a transaction dated Saturday, February 17th. The shares were sold at an average price of $21.40, for a total transaction of $42,800.00. Following the completion of the transaction, the insider now owns 52,696 shares in the company, valued at $1,127,694.40. The disclosure for this sale can be found here. Insiders sold 2,150,955 shares of company stock worth $48,905,165 over the last 90 days. 19.00% of the stock is currently owned by corporate insiders.
HUN has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Huntsman in a research report on Wednesday, December 13th. They set an “overweight” rating and a $36.00 price target on the stock. Jefferies Group increased their price objective on shares of Huntsman to $43.00 and gave the company a “buy” rating in a research report on Friday, January 26th. ValuEngine raised shares of Huntsman from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Goldman Sachs Group reissued a “hold” rating and issued a $36.00 price objective on shares of Huntsman in a research report on Monday, December 4th. Finally, KeyCorp increased their price objective on shares of Huntsman from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $35.92.
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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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