Huntsman (HUN) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS
Huntsman (NYSE:HUN) issued its quarterly earnings data on Friday. The basic materials company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.66 by $0.10, Bloomberg Earnings reports. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.10 billion. Huntsman had a return on equity of 30.64% and a net margin of 5.37%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share.
Shares of Huntsman (HUN) traded up $0.32 during midday trading on Friday, reaching $33.64. The company’s stock had a trading volume of 5,500,000 shares, compared to its average volume of 2,970,000. Huntsman has a 1-year low of $21.44 and a 1-year high of $36.09. The company has a market capitalization of $8,070.00, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 1.52 and a beta of 2.76. The company has a current ratio of 1.87, a quick ratio of 1.52 and a debt-to-equity ratio of 1.10.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.1625 per share. This represents a $0.65 annualized dividend and a yield of 1.93%. This is a positive change from Huntsman’s previous quarterly dividend of $0.13. Huntsman’s dividend payout ratio is 23.04%.
In other Huntsman news, CEO Anthony P. Hankins sold 100,000 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $33.24, for a total transaction of $3,324,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Corp Huntsman sold 21,764,800 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $21.66, for a total value of $471,425,568.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,154,548 shares of company stock valued at $527,750,108. 19.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. raised its position in Huntsman by 1,658.4% during the third quarter. Assetmark Inc. now owns 3,974 shares of the basic materials company’s stock valued at $109,000 after purchasing an additional 3,748 shares in the last quarter. Cerebellum GP LLC purchased a new stake in Huntsman during the fourth quarter valued at about $128,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Huntsman during the fourth quarter valued at about $133,000. American International Group Inc. purchased a new stake in Huntsman during the fourth quarter valued at about $149,000. Finally, The Manufacturers Life Insurance Company raised its position in Huntsman by 9.1% during the second quarter. The Manufacturers Life Insurance Company now owns 7,281 shares of the basic materials company’s stock valued at $188,000 after purchasing an additional 610 shares in the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.
Huntsman declared that its Board of Directors has authorized a stock repurchase plan on Friday, February 23rd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the basic materials company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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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