Point72 Asset Management L.P. Sells 1,143,930 Shares of Huntsman Co. (NYSE:HUN)
Point72 Asset Management L.P. lowered its stake in shares of Huntsman Co. (NYSE:HUN) by 52.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,056,661 shares of the basic materials company’s stock after selling 1,143,930 shares during the quarter. Point72 Asset Management L.P. owned about 0.46% of Huntsman worth $25,529,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Captrust Financial Advisors increased its position in shares of Huntsman by 3,446.9% in the 4th quarter. Captrust Financial Advisors now owns 44,656 shares of the basic materials company’s stock valued at $1,066,000 after acquiring an additional 43,397 shares during the period. Castleark Management LLC increased its position in Huntsman by 21.6% during the fourth quarter. Castleark Management LLC now owns 257,561 shares of the basic materials company’s stock worth $6,223,000 after acquiring an additional 45,691 shares during the period. AQR Capital Management LLC increased its position in Huntsman by 24.8% during the fourth quarter. AQR Capital Management LLC now owns 2,003,079 shares of the basic materials company’s stock worth $48,394,000 after acquiring an additional 397,596 shares during the period. Jane Street Group LLC bought a new position in Huntsman during the fourth quarter worth $2,306,000. Finally, Westwood Holdings Group Inc. bought a new position in Huntsman during the fourth quarter worth $14,179,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.
In other Huntsman news, VP Ronald W. Gerrard sold 12,876 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $20.47, for a total value of $263,571.72. Following the transaction, the vice president now owns 189,323 shares of the company’s stock, valued at $3,875,441.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Anthony P. Hankins acquired 2,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was acquired at an average cost of $16.18 per share, for a total transaction of $32,360.00. Following the transaction, the chief executive officer now owns 510,366 shares of the company’s stock, valued at approximately $8,257,721.88. The disclosure for this purchase can be found here. Insiders have purchased 44,625 shares of company stock valued at $789,217 in the last quarter. 5.60% of the stock is currently owned by corporate insiders.
Huntsman (NYSE:HUN) last released its quarterly earnings data on Thursday, February 13th. The basic materials company reported $0.29 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. Huntsman had a return on equity of 14.86% and a net margin of 7.42%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s quarterly revenue was down 25.9% on a year-over-year basis. On average, sell-side analysts predict that Huntsman Co. will post 1.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.1625 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.65 annualized dividend and a yield of 4.28%. Huntsman’s dividend payout ratio (DPR) is currently 42.48%.
A number of analysts recently issued reports on HUN shares. Bank of America started coverage on Huntsman in a research note on Wednesday, January 15th. They set a “buy” rating and a $27.00 target price for the company. Wells Fargo & Co cut their price objective on Huntsman from $27.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, March 17th. JPMorgan Chase & Co. cut their price objective on Huntsman from $21.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. KeyCorp initiated coverage on Huntsman in a report on Wednesday. They issued an “overweight” rating for the company. Finally, Cfra cut their price objective on Huntsman from $21.00 to $20.00 and set a “sell” rating for the company in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $23.02.
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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