First Mercantile Trust Co. reduced its position in Huntsman Corp. (NYSE:HUN) by 21.5% during the second quarter, Holdings Channel reports. The fund owned 17,800 shares of the company’s stock after selling 4,880 shares during the period. First Mercantile Trust Co.’s holdings in Huntsman Corp. were worth $239,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Creative Planning boosted its stake in shares of Huntsman Corp. by 2.5% in the second quarter. Creative Planning now owns 8,270 shares of the company’s stock worth $111,000 after buying an additional 200 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Huntsman Corp. during the first quarter worth approximately $137,000. Loomis Sayles & Co. L P purchased a new stake in shares of Huntsman Corp. during the first quarter worth approximately $148,000. Traynor Capital Management Inc. purchased a new stake in shares of Huntsman Corp. during the second quarter worth approximately $168,000. Finally, Synovus Financial Corp boosted its stake in shares of Huntsman Corp. by 0.4% in the second quarter. Synovus Financial Corp now owns 12,693 shares of the company’s stock worth $174,000 after buying an additional 52 shares in the last quarter. 67.25% of the stock is owned by hedge funds and other institutional investors.
Huntsman Corp. (NYSE:HUN) opened at 16.24 on Tuesday. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 19.38 and a beta of 2.65. Huntsman Corp. has a 52 week low of $7.46 and a 52 week high of $18.12. The company has a 50 day moving average price of $16.25 and a 200 day moving average price of $15.12.
Huntsman Corp. (NYSE:HUN) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. Huntsman Corp. had a net margin of 2.05% and a return on equity of 26.60%. The company earned $2.54 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Huntsman Corp.’s revenue for the quarter was down 7.2% on a year-over-year basis. Analysts expect that Huntsman Corp. will post $1.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a dividend of $0.125 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.50 annualized dividend and a dividend yield of 3.08%. Huntsman Corp.’s dividend payout ratio (DPR) is 59.52%.
A number of brokerages have commented on HUN. Nomura lowered their price target on Huntsman Corp. from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, September 20th. Zacks Investment Research upgraded Huntsman Corp. from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Thursday, July 7th. Jefferies Group reiterated a “buy” rating on shares of Huntsman Corp. in a research note on Thursday, August 4th. Finally, Citigroup Inc. lifted their price objective on Huntsman Corp. from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, July 15th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $16.43.
Huntsman Corp. 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). It operates in five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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