Huntsman Co. (HUN) Shares Bought by Cornerstone Capital Management Holdings LLC.
Cornerstone Capital Management Holdings LLC. raised its holdings in shares of Huntsman Co. (NYSE:HUN) by 1,329.3% in the 4th quarter, Holdings Channel reports. The firm owned 732,876 shares of the basic materials company’s stock after purchasing an additional 681,601 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Huntsman were worth $24,397,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Huntsman by 2.5% during the fourth quarter. BlackRock Inc. now owns 11,671,197 shares of the basic materials company’s stock worth $388,534,000 after purchasing an additional 280,753 shares during the last quarter. Iridian Asset Management LLC CT bought a new stake in shares of Huntsman during the fourth quarter worth $205,327,000. Bank of New York Mellon Corp lifted its position in shares of Huntsman by 292.7% during the fourth quarter. Bank of New York Mellon Corp now owns 5,538,830 shares of the basic materials company’s stock worth $184,387,000 after purchasing an additional 4,128,204 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Huntsman by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 5,466,615 shares of the basic materials company’s stock worth $149,566,000 after purchasing an additional 75,590 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Huntsman by 254.8% during the fourth quarter. Two Sigma Investments LP now owns 3,534,199 shares of the basic materials company’s stock worth $117,653,000 after purchasing an additional 2,537,977 shares during the last quarter. Institutional investors and hedge funds own 76.04% of the company’s stock.
In other Huntsman news, major shareholder Corp Huntsman sold 1,948,955 shares of Huntsman stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $21.66, for a total value of $42,214,365.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Anthony P. Hankins sold 100,000 shares of Huntsman 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. Following the completion of the transaction, the chief executive officer now owns 462,615 shares in the company, valued at approximately $15,377,322.60. The disclosure for this sale can be found here. Insiders sold 2,150,955 shares of company stock worth $48,905,165 in the last quarter. 19.00% of the stock is owned by insiders.
Huntsman (NYSE:HUN) last posted its earnings results on Friday, February 23rd. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.10. Huntsman had a return on equity of 29.30% and a net margin of 6.73%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. analysts forecast that Huntsman Co. will post 2.74 EPS for the current year.
Huntsman declared that its board has initiated a stock repurchase plan on Friday, February 23rd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be paid a $0.1625 dividend. This represents a $0.65 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, March 14th. This is a positive change from Huntsman’s previous quarterly dividend of $0.13. Huntsman’s payout ratio is 28.74%.
Several research firms have recently weighed in on HUN. Tudor Pickering initiated coverage on Huntsman in a research report on Friday, January 19th. They set a “buy” rating for the company. Citigroup raised their price target on Huntsman from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. ValuEngine lowered Huntsman from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 15th. Goldman Sachs Group restated a “hold” rating and set a $36.00 price target on shares of Huntsman in a research note on Monday, December 4th. Finally, KeyCorp raised their price target on Huntsman from $37.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Huntsman presently has a consensus rating of “Buy” and a consensus target price of $35.92.
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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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