State Board of Administration of Florida Retirement System Sells 18,445 Shares of Huntsman Co. (HUN)
State Board of Administration of Florida Retirement System reduced its stake in Huntsman Co. (NYSE:HUN) by 6.0% during the 1st quarter, HoldingsChannel reports. The fund owned 286,943 shares of the basic materials company’s stock after selling 18,445 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Huntsman were worth $6,453,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Vanguard Group Inc increased its stake in Huntsman by 1.3% during the third quarter. Vanguard Group Inc now owns 23,641,404 shares of the basic materials company’s stock worth $643,755,000 after purchasing an additional 314,873 shares during the period. IFP Advisors Inc increased its stake in Huntsman by 30.5% during the fourth quarter. IFP Advisors Inc now owns 2,069 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 484 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Huntsman during the fourth quarter worth about $613,000. Northpointe Capital LLC increased its stake in Huntsman by 42.6% during the fourth quarter. Northpointe Capital LLC now owns 154,886 shares of the basic materials company’s stock worth $2,988,000 after purchasing an additional 46,288 shares during the period. Finally, River Wealth Advisors LLC increased its stake in Huntsman by 6.3% during the fourth quarter. River Wealth Advisors LLC now owns 126,472 shares of the basic materials company’s stock worth $2,440,000 after purchasing an additional 7,465 shares during the period. Institutional investors and hedge funds own 76.56% of the company’s stock.
A number of analysts have issued reports on HUN shares. Zacks Investment Research lowered shares of Huntsman from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Goldman Sachs Group upgraded shares of Huntsman from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Thursday, May 9th. JPMorgan Chase & Co. lowered shares of Huntsman from an “overweight” rating to a “neutral” rating and set a $24.00 price target on the stock. in a research note on Wednesday, February 13th. Barclays set a $21.00 price target on shares of Huntsman and gave the stock a “sell” rating in a research note on Tuesday, March 19th. Finally, ValuEngine upgraded shares of Huntsman from a “strong sell” rating to a “sell” rating in a research note on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.05.
Shares of HUN opened at $19.89 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.83 and a quick ratio of 1.11. The company has a market capitalization of $4.67 billion, a P/E ratio of 5.96, a price-to-earnings-growth ratio of 0.85 and a beta of 2.20. Huntsman Co. has a 52-week low of $17.58 and a 52-week high of $33.55.
Huntsman (NYSE:HUN) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.12 billion. Huntsman had a return on equity of 19.90% and a net margin of 2.00%. The company’s revenue was down 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 earnings per share. On average, sell-side analysts predict that Huntsman Co. will post 2.76 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.1625 dividend. This represents a $0.65 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Thursday, June 13th. Huntsman’s payout ratio is currently 19.46%.
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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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