Royal Bank of Canada Decreases Stock Holdings in Huntsman Co. (NYSE:HUN)
Royal Bank of Canada trimmed its position in Huntsman Co. (NYSE:HUN) by 19.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 722,461 shares of the basic materials company’s stock after selling 171,754 shares during the quarter. Royal Bank of Canada’s holdings in Huntsman were worth $10,424,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Verus Capital Partners LLC purchased a new position in shares of Huntsman in the fourth quarter worth $48,000. FDx Advisors Inc. purchased a new position in shares of Huntsman in the first quarter worth $56,000. Quadrant Capital Group LLC increased its stake in shares of Huntsman by 20.4% in the fourth quarter. Quadrant Capital Group LLC now owns 4,131 shares of the basic materials company’s stock worth $96,000 after buying an additional 700 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Huntsman by 724.3% in the first quarter. Tower Research Capital LLC TRC now owns 7,353 shares of the basic materials company’s stock worth $106,000 after buying an additional 6,461 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Huntsman in the fourth quarter worth $117,000. 77.71% of the stock is currently owned by institutional investors.
Several research analysts recently commented on HUN shares. Morgan Stanley decreased their target price on shares of Huntsman from $22.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Monday, March 30th. Barclays reduced their price objective on shares of Huntsman from $19.00 to $15.00 and set an “underweight” rating on the stock in a research report on Monday, May 4th. Citigroup reduced their price objective on shares of Huntsman from $24.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Cfra raised shares of Huntsman from a “sell” rating to a “hold” rating and reduced their price objective for the company from $20.00 to $16.00 in a research report on Friday, April 3rd. Finally, Royal Bank of Canada downgraded shares of Huntsman from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $24.00 to $16.00 in a research report on Thursday, March 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Huntsman has a consensus rating of “Hold” and a consensus target price of $19.89.
Huntsman (NYSE:HUN) last announced its earnings results on Friday, May 1st. The basic materials company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.10. Huntsman had a net margin of 16.10% and a return on equity of 12.72%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the business posted $0.46 EPS. The company’s quarterly revenue was down 21.7% on a year-over-year basis. On average, sell-side analysts forecast that Huntsman Co. will post 0.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.1625 per share. This represents a $0.65 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Friday, June 12th. Huntsman’s dividend payout ratio (DPR) is presently 42.48%.
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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