Insider Selling: Huntsman Corp. (HUN) Insider Sells $10,362,000.00 in Stock
Huntsman Corp. (NYSE:HUN) insider Jon M. Huntsman sold 600,000 shares of Huntsman Corp. stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $17.27, for a total transaction of $10,362,000.00. Following the completion of the transaction, the insider now directly owns 692,772 shares in the company, valued at $11,964,172.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Huntsman Corp. (NYSE:HUN) opened at 18.60 on Friday. Huntsman Corp. has a 12 month low of $7.46 and a 12 month high of $18.81. The stock has a market capitalization of $4.43 billion, a P/E ratio of 22.04 and a beta of 2.71. The company’s 50-day moving average is $16.38 and its 200-day moving average is $15.67.
Huntsman Corp. (NYSE:HUN) last issued its quarterly earnings results on Friday, October 28th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.48 billion. Huntsman Corp. had a net margin of 2.11% and a return on equity of 25.26%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. Equities analysts anticipate that Huntsman Corp. will post $1.53 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of HUN. Acrospire Investment Management LLC bought a new position in shares of Huntsman Corp. during the third quarter valued at about $109,000. Creative Planning increased its position in Huntsman Corp. by 2.5% in the second quarter. Creative Planning now owns 8,270 shares of the company’s stock worth $111,000 after buying an additional 200 shares during the last quarter. Rational Advisors LLC acquired a new position in Huntsman Corp. during the second quarter worth about $125,000. HighTower Advisors LLC acquired a new position in Huntsman Corp. during the second quarter worth about $142,000. Finally, Loomis Sayles & Co. L P acquired a new position in Huntsman Corp. during the first quarter worth about $148,000. Institutional investors and hedge funds own 67.80% of the company’s stock.
Several research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Huntsman Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 18th. Citigroup Inc. lifted their target price on shares of Huntsman Corp. from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, July 15th. Jefferies Group reissued a “buy” rating and issued a $20.00 target price on shares of Huntsman Corp. in a research report on Tuesday, September 20th. Finally, Nomura dropped their target price on shares of Huntsman Corp. from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, September 20th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Huntsman Corp. has an average rating of “Buy” and a consensus price target of $17.17.
About Huntsman Corp.
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). It operates in five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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