Bowling Portfolio Management LLC Increases Stake in Huntsman Co. (HUN)
Bowling Portfolio Management LLC grew its holdings in Huntsman Co. (NYSE:HUN) by 52.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 181,443 shares of the basic materials company’s stock after buying an additional 62,254 shares during the quarter. Huntsman comprises approximately 0.8% of Bowling Portfolio Management LLC’s portfolio, making the stock its 19th largest holding. Bowling Portfolio Management LLC’s holdings in Huntsman were worth $6,040,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Mckinley Capital Management LLC Delaware acquired a new stake in Huntsman in the second quarter worth about $106,000. Assetmark Inc. increased its position in Huntsman by 1,658.4% in the third quarter. Assetmark Inc. now owns 3,974 shares of the basic materials company’s stock worth $109,000 after purchasing an additional 3,748 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in Huntsman in the fourth quarter worth about $133,000. The Manufacturers Life Insurance Company increased its position in Huntsman by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 7,281 shares of the basic materials company’s stock worth $188,000 after purchasing an additional 610 shares during the period. Finally, Boothbay Fund Management LLC acquired a new stake in Huntsman in the third quarter worth about $213,000. Institutional investors own 75.78% of the company’s stock.
In other news, Director Mary C. Beckerle sold 4,507 shares of Huntsman stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $30.76, for a total transaction of $138,635.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP J Kimo Esplin sold 428,571 shares of Huntsman stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $31.54, for a total value of $13,517,129.34. Following the transaction, the vice president now owns 925,271 shares in the company, valued at approximately $29,183,047.34. The disclosure for this sale can be found here. Insiders have sold a total of 25,210,738 shares of company stock worth $561,179,159 in the last quarter. 19.00% of the stock is currently owned by company insiders.
Huntsman (NYSE:HUN) last issued its earnings results on Friday, October 27th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.17. Huntsman had a return on equity of 30.64% and a net margin of 5.37%. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter last year, the business earned $0.38 earnings per share. The company’s revenue was up 18.5% compared to the same quarter last year. equities analysts expect that Huntsman Co. will post 2.74 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Thursday, December 14th. Huntsman’s dividend payout ratio (DPR) is currently 29.07%.
A number of brokerages recently commented on HUN. ValuEngine lowered Huntsman from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 15th. Alembic Global Advisors reiterated a “buy” rating on shares of Huntsman in a research report on Monday, November 6th. Goldman Sachs Group reiterated a “hold” rating and issued a $36.00 price objective on shares of Huntsman in a research report on Monday, December 4th. JPMorgan Chase & Co. initiated coverage on Huntsman in a report on Wednesday, December 13th. They set an “overweight” rating and a $36.00 target price on the stock. Finally, SunTrust Banks restated a “buy” rating and set a $32.00 target price on shares of Huntsman in a report on Friday, October 27th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $33.00.
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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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