Clearbridge Investments LLC Purchases Shares of 540,351 Huntsman Co. (NYSE:HUN)
Clearbridge Investments LLC purchased a new position in shares of Huntsman Co. (NYSE:HUN) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 540,351 shares of the basic materials company’s stock, valued at approximately $7,797,000. Clearbridge Investments LLC owned about 0.25% of Huntsman as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Verus Capital Partners LLC bought a new stake in shares of Huntsman in the 4th quarter worth approximately $48,000. FDx Advisors Inc. bought a new stake in Huntsman in the first quarter worth $56,000. Quadrant Capital Group LLC lifted its stake in Huntsman by 20.4% in the fourth quarter. Quadrant Capital Group LLC now owns 4,131 shares of the basic materials company’s stock worth $96,000 after purchasing an additional 700 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Huntsman by 724.3% during the first quarter. Tower Research Capital LLC TRC now owns 7,353 shares of the basic materials company’s stock valued at $106,000 after buying an additional 6,461 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Huntsman during the fourth quarter valued at about $117,000. Hedge funds and other institutional investors own 77.71% of the company’s stock.
Several brokerages recently weighed in on HUN. Scotiabank started coverage on Huntsman in a report on Wednesday, March 18th. They set a “sector perform” rating and a $22.00 target price for the company. Seaport Global Securities lowered Huntsman from a “buy” rating to a “neutral” rating in a research note on Friday, June 19th. SunTrust Banks decreased their target price on shares of Huntsman from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Royal Bank of Canada cut shares of Huntsman from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $24.00 to $16.00 in a research report on Thursday, March 26th. Finally, KeyCorp boosted their price objective on shares of Huntsman from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Huntsman presently has an average rating of “Hold” and a consensus target price of $19.89.
Huntsman (NYSE:HUN) last issued its quarterly earnings results on Friday, May 1st. The basic materials company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.10. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Huntsman had a return on equity of 12.72% and a net margin of 16.10%. The firm’s revenue for the quarter was down 21.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 earnings per share. On average, equities analysts forecast that Huntsman Co. will post 0.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 15th will be paid a $0.1625 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.65 annualized dividend and a dividend yield of 3.68%. Huntsman’s payout ratio is 42.48%.
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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