Huntsman Co. (NYSE:HUN) Shares Bought by Mackay Shields LLC

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Mackay Shields LLC grew its holdings in shares of Huntsman Co. (NYSE:HUN) by 257.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 205,967 shares of the basic materials company’s stock after acquiring an additional 148,399 shares during the quarter. Mackay Shields LLC’s holdings in Huntsman were worth $4,791,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bessemer Group Inc. boosted its position in Huntsman by 225.8% during the 2nd quarter. Bessemer Group Inc. now owns 18,943 shares of the basic materials company’s stock worth $387,000 after acquiring an additional 13,129 shares during the period. Scout Investments Inc. boosted its position in Huntsman by 2.0% during the 3rd quarter. Scout Investments Inc. now owns 1,117,680 shares of the basic materials company’s stock worth $25,997,000 after acquiring an additional 22,381 shares during the period. Envestnet Asset Management Inc. boosted its position in Huntsman by 85.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 473,808 shares of the basic materials company’s stock worth $9,685,000 after acquiring an additional 218,389 shares during the period. Magnetar Financial LLC acquired a new position in Huntsman during the 2nd quarter worth $208,000. Finally, Bank of Montreal Can boosted its position in Huntsman by 25.8% during the 2nd quarter. Bank of Montreal Can now owns 374,083 shares of the basic materials company’s stock worth $7,645,000 after acquiring an additional 76,621 shares during the period. Institutional investors own 74.43% of the company’s stock.

HUN has been the subject of a number of analyst reports. SunTrust Banks reduced their price target on Huntsman to $29.00 and set a “buy” rating for the company in a research report on Monday, October 28th. TheStreet lowered Huntsman from a “b” rating to a “c+” rating in a research report on Tuesday, October 29th. Nomura reissued a “buy” rating and issued a $26.00 price objective on shares of Huntsman in a research note on Sunday, August 11th. Citigroup boosted their price objective on Huntsman from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, UBS Group boosted their price objective on Huntsman from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $26.25.

Shares of HUN traded down $0.22 during midday trading on Friday, reaching $23.48. The stock had a trading volume of 1,418,445 shares, compared to its average volume of 2,493,616. Huntsman Co. has a 52 week low of $17.33 and a 52 week high of $25.66. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.96 and a quick ratio of 1.45. The firm’s 50 day moving average price is $22.84 and its 200-day moving average price is $20.88. The company has a market capitalization of $5.44 billion, a P/E ratio of 7.03, a P/E/G ratio of 1.89 and a beta of 2.34.

Huntsman (NYSE:HUN) last posted its quarterly earnings data on Friday, October 25th. The basic materials company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.01). Huntsman had a positive return on equity of 17.06% and a negative net margin of 0.99%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm posted $0.84 EPS. The firm’s quarterly revenue was down 14.3% on a year-over-year basis. On average, equities analysts forecast that Huntsman Co. will post 1.53 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.1625 per share. This represents a $0.65 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, December 12th. Huntsman’s dividend payout ratio (DPR) is presently 19.46%.

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.

Further Reading: What is a stock buyback?

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Institutional Ownership by Quarter for Huntsman (NYSE:HUN)

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