Wedge Capital Management L L P NC boosted its stake in shares of Huntsman Corporation (NYSE:HUN) by 1,138.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 364,270 shares of the basic materials company’s stock after buying an additional 334,867 shares during the period. Wedge Capital Management L L P NC owned about 0.15% of Huntsman Corporation worth $9,413,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the stock. Utah Retirement Systems increased its stake in Huntsman Corporation by 0.3% in the first quarter. Utah Retirement Systems now owns 36,137 shares of the basic materials company’s stock valued at $887,000 after buying an additional 100 shares in the last quarter. New York State Teachers Retirement System increased its stake in Huntsman Corporation by 0.6% in the first quarter. New York State Teachers Retirement System now owns 17,600 shares of the basic materials company’s stock valued at $432,000 after buying an additional 100 shares in the last quarter. M&T Bank Corp increased its stake in Huntsman Corporation by 2.6% in the first quarter. M&T Bank Corp now owns 11,443 shares of the basic materials company’s stock valued at $282,000 after buying an additional 293 shares in the last quarter. Duncker Streett & Co. Inc. increased its stake in Huntsman Corporation by 3.4% in the first quarter. Duncker Streett & Co. Inc. now owns 12,000 shares of the basic materials company’s stock valued at $294,000 after buying an additional 400 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Huntsman Corporation by 2.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,887 shares of the basic materials company’s stock valued at $365,000 after buying an additional 410 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.
Huntsman Corporation (NYSE HUN) opened at 25.50 on Wednesday. Huntsman Corporation has a 52-week low of $14.16 and a 52-week high of $28.30. The firm has a market cap of $6.12 billion, a PE ratio of 14.46 and a beta of 2.81. The firm’s 50-day moving average price is $26.30 and its 200 day moving average price is $24.28.
Huntsman Corporation (NYSE:HUN) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.18. Huntsman Corporation had a net margin of 4.33% and a return on equity of 30.04%. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the company posted $0.53 earnings per share. Huntsman Corporation’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts anticipate that Huntsman Corporation will post $2.22 earnings per share for the current year.
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Several analysts have commented on the company. Alembic Global Advisors set a $28.00 price objective on Huntsman Corporation and gave the company a “buy” rating in a research note on Thursday, July 27th. BidaskClub downgraded Huntsman Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Jefferies Group LLC reaffirmed a “buy” rating and set a $31.00 price objective on shares of Huntsman Corporation in a research note on Tuesday, July 25th. KeyCorp raised Huntsman Corporation from a “sector weight” rating to an “overweight” rating and set a $34.00 price objective for the company in a research note on Monday, July 24th. Finally, Zacks Investment Research raised Huntsman Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $29.00.
In other Huntsman Corporation news, CFO Sean Douglas purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were bought at an average price of $23.74 per share, with a total value of $59,350.00. Following the completion of the acquisition, the chief financial officer now owns 66,996 shares in the company, valued at approximately $1,590,485.04. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Randy W. Wright sold 56,675 shares of Huntsman Corporation stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $25.76, for a total value of $1,459,948.00. Following the sale, the vice president now directly owns 66,023 shares in the company, valued at approximately $1,700,752.48. The disclosure for this sale can be found here. Insiders own 19.00% of the company’s stock.
About Huntsman Corporation
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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