35,205 Shares in Huntsman Co. (HUN) Acquired by Fagan Associates Inc.
Fagan Associates Inc. acquired a new stake in shares of Huntsman Co. (NYSE:HUN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 35,205 shares of the basic materials company’s stock, valued at approximately $959,000.
A number of other large investors have also recently modified their holdings of HUN. FTB Advisors Inc. purchased a new position in Huntsman during the second quarter valued at approximately $114,000. Willingdon Wealth Management purchased a new position in Huntsman during the third quarter valued at approximately $118,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Huntsman during the second quarter valued at approximately $122,000. Stratos Wealth Partners LTD. purchased a new position in Huntsman during the third quarter valued at approximately $177,000. Finally, Clear Harbor Asset Management LLC purchased a new position in Huntsman during the third quarter valued at approximately $200,000. 77.53% of the stock is owned by institutional investors.
Several equities analysts recently commented on HUN shares. Seaport Global Securities started coverage on shares of Huntsman in a research note on Friday, August 24th. They set a “buy” rating for the company. Royal Bank of Canada reiterated a “buy” rating and set a $38.00 target price on shares of Huntsman in a research report on Wednesday, August 1st. MED reiterated a “buy” rating on shares of Huntsman in a research report on Monday, September 17th. Zacks Investment Research upgraded shares of Huntsman from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Monday, July 16th. Finally, Alembic Global Advisors set a $40.00 target price on shares of Huntsman and gave the company a “buy” rating in a research report on Tuesday, October 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $34.58.
Huntsman (NYSE:HUN) last announced its earnings results on Tuesday, October 30th. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.02. Huntsman had a net margin of 9.88% and a return on equity of 22.96%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the business posted $0.67 earnings per share. Huntsman’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities research analysts predict that Huntsman Co. will post 3.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be issued a $0.1625 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 2.93%. Huntsman’s payout ratio is 26.21%.
In other Huntsman news, CFO Sean Douglas acquired 7,500 shares of the stock in a transaction dated Wednesday, October 31st. The stock was purchased at an average cost of $21.47 per share, for a total transaction of $161,025.00. Following the acquisition, the chief financial officer now owns 77,595 shares in the company, valued at approximately $1,665,964.65. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP David M. Stryker acquired 1,282 shares of the stock in a transaction dated Wednesday, October 31st. The stock was acquired at an average price of $21.55 per share, with a total value of $27,627.10. Following the completion of the acquisition, the vice president now owns 122,852 shares in the company, valued at approximately $2,647,460.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 10,782 shares of company stock valued at $234,492. Company insiders own 19.00% of the company’s stock.
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Huntsman Corporation, through its subsidiary, Huntsman International LLC, 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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