New York State Common Retirement Fund reduced its stake in shares of Huntsman Co. (NYSE:HUN – Get Rating) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 213,782 shares of the basic materials company’s stock after selling 4,789 shares during the period. New York State Common Retirement Fund owned 0.10% of Huntsman worth $7,457,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of HUN. Morgan Stanley boosted its holdings in shares of Huntsman by 98.0% during the 2nd quarter. Morgan Stanley now owns 1,833,934 shares of the basic materials company’s stock worth $48,636,000 after purchasing an additional 907,578 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Huntsman by 0.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 117,479 shares of the basic materials company’s stock worth $3,476,000 after purchasing an additional 807 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Huntsman by 24.4% during the 3rd quarter. Signaturefd LLC now owns 1,619 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 318 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Huntsman by 6.2% during the 3rd quarter. M&T Bank Corp now owns 34,974 shares of the basic materials company’s stock worth $1,036,000 after purchasing an additional 2,033 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Huntsman by 107.3% during the 3rd quarter. Nordea Investment Management AB now owns 515,296 shares of the basic materials company’s stock worth $15,386,000 after purchasing an additional 266,680 shares during the last quarter. Institutional investors and hedge funds own 84.65% of the company’s stock.
Shares of NYSE HUN opened at $34.17 on Friday. Huntsman Co. has a 52-week low of $24.09 and a 52-week high of $41.65. The business’s 50 day moving average is $37.75 and its two-hundred day moving average is $35.25. The company has a quick ratio of 1.33, a current ratio of 1.92 and a debt-to-equity ratio of 0.34. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 7.21, a PEG ratio of 0.70 and a beta of 1.13.
Huntsman announced that its board has authorized a share repurchase program on Monday, March 28th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire up to 24.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th were given a dividend of $0.2125 per share. The ex-dividend date was Monday, March 14th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.49%. This is a positive change from Huntsman’s previous quarterly dividend of $0.19. Huntsman’s dividend payout ratio is currently 17.93%.
A number of research analysts recently commented on HUN shares. Zacks Investment Research cut Huntsman from a “hold” rating to a “sell” rating and set a $37.00 price objective on the stock. in a report on Tuesday, January 11th. Wells Fargo & Company upped their price objective on Huntsman from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, February 16th. Deutsche Bank Aktiengesellschaft upped their price objective on Huntsman from $40.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, February 16th. Seaport Res Ptn reiterated a “buy” rating on shares of Huntsman in a report on Tuesday, January 18th. Finally, Morgan Stanley upped their price objective on Huntsman from $40.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, January 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $47.64.
Huntsman Profile (Get Rating)
Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates through 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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