State Board of Administration of Florida Retirement System Sells 17,249 Shares of Huntsman Corporation (HUN)
State Board of Administration of Florida Retirement System decreased its position in Huntsman Corporation (NYSE:HUN) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 339,445 shares of the basic materials company’s stock after selling 17,249 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.14% of Huntsman Corporation worth $9,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the stock. Summit Securities Group LLC lifted its position in Huntsman Corporation by 142.1% in the 3rd quarter. Summit Securities Group LLC now owns 23,000 shares of the basic materials company’s stock worth $631,000 after buying an additional 13,500 shares during the last quarter. Regentatlantic Capital LLC bought a new stake in Huntsman Corporation in the 3rd quarter worth approximately $237,000. First Trust Advisors LP lifted its position in Huntsman Corporation by 19.4% in the 3rd quarter. First Trust Advisors LP now owns 286,479 shares of the basic materials company’s stock worth $7,855,000 after buying an additional 46,592 shares during the last quarter. Paulson & CO. Inc. bought a new stake in Huntsman Corporation in the 2nd quarter worth approximately $336,000. Finally, USA Financial Portformulas Corp bought a new stake in Huntsman Corporation in the 2nd quarter worth approximately $527,000. Institutional investors own 74.31% of the company’s stock.
In related news, Director Alvin V. Shoemaker sold 38,009 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $31.28, for a total transaction of $1,188,921.52. Following the completion of the transaction, the director now owns 37,227 shares in the company, valued at $1,164,460.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Monte G. Edlund sold 21,493 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $31.99, for a total value of $687,561.07. Following the transaction, the insider now owns 75,771 shares of the company’s stock, valued at approximately $2,423,914.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,051,683 shares of company stock valued at $33,290,416. 19.00% of the stock is owned by corporate insiders.
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Shares of Huntsman Corporation (NYSE:HUN) opened at $31.06 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.87 and a quick ratio of 1.52. Huntsman Corporation has a 12-month low of $17.98 and a 12-month high of $32.59. The firm has a market capitalization of $7,454.65, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 1.49 and a beta of 2.87.
Huntsman Corporation (NYSE:HUN) last announced its earnings results on Friday, October 27th. The basic materials company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.17. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.99 billion. Huntsman Corporation had a return on equity of 30.64% and a net margin of 5.37%. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share. equities research analysts forecast that Huntsman Corporation will post 2.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.125 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.61%. Huntsman Corporation’s dividend payout ratio is presently 23.47%.
A number of analysts recently weighed in on the company. Nomura boosted their target price on Huntsman Corporation to $40.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. UBS AG boosted their target price on Huntsman Corporation from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Alembic Global Advisors restated a “buy” rating on shares of Huntsman Corporation in a research report on Monday, November 6th. SunTrust Banks, Inc. restated a “buy” rating and issued a $32.00 target price on shares of Huntsman Corporation in a research report on Friday, October 27th. They noted that the move was a valuation call. Finally, KeyCorp reiterated a “buy” rating and issued a $34.00 price objective on shares of Huntsman Corporation in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Huntsman Corporation has an average rating of “Buy” and an average target price of $31.55.
Huntsman Corporation Profile
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). The Company operates through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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