Huntsman Co. (HUN) Sees Large Decline in Short Interest

Huntsman Co. (HUN) Sees Large Decline in Short Interest

Huntsman Co. (NYSE:HUN) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 6,927,450 shares, a drop of 34.4% from the February 28th total of 10,556,747 shares. Based on an average daily volume of 3,001,510 shares, the days-to-cover ratio is presently 2.3 days. Currently, 3.5% of the company’s stock are short sold.

A number of research firms have recently commented on HUN. Zacks Investment Research raised Huntsman from a “sell” rating to a “hold” rating in a research report on Friday, February 17th. Instinet reaffirmed a “positive” rating and set a $26.00 price target (up previously from $25.00) on shares of Huntsman in a research report on Tuesday, March 28th. Finally, Goldman Sachs Group Inc lowered Huntsman from a “buy” rating to a “neutral” rating and raised their price target for the stock from $20.51 to $23.00 in a research report on Monday, December 12th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $20.00.

In other news, VP Brian V. Ridd sold 44,265 shares of the firm’s stock in a transaction dated Wednesday, January 25th. The stock was sold at an average price of $21.50, for a total transaction of $951,697.50. Following the sale, the vice president now owns 270,280 shares of the company’s stock, valued at $5,811,020. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Russell R. Stolle sold 59,361 shares of the firm’s stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $21.42, for a total value of $1,271,512.62. Following the sale, the vice president now directly owns 113,098 shares in the company, valued at approximately $2,422,559.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,137 shares of company stock worth $2,375,683. 19.68% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in HUN. BlackRock Institutional Trust Company N.A. raised its stake in Huntsman by 2.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,139,264 shares of the company’s stock worth $83,616,000 after buying an additional 138,058 shares during the period. Victory Capital Management Inc. raised its stake in Huntsman by 0.4% in the third quarter. Victory Capital Management Inc. now owns 1,815,503 shares of the company’s stock worth $29,538,000 after buying an additional 6,570 shares during the period. First Trust Advisors LP raised its stake in Huntsman by 43.6% in the third quarter. First Trust Advisors LP now owns 688,023 shares of the company’s stock worth $11,194,000 after buying an additional 208,872 shares during the period. River Wealth Advisors LLC raised its stake in Huntsman by 12.3% in the third quarter. River Wealth Advisors LLC now owns 113,275 shares of the company’s stock worth $1,843,000 after buying an additional 12,380 shares during the period. Finally, Towle & Co. raised its stake in Huntsman by 0.4% in the third quarter. Towle & Co. now owns 1,419,592 shares of the company’s stock worth $23,097,000 after buying an additional 5,240 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Shares of Huntsman (NYSE:HUN) opened at 24.54 on Friday. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 18.00 and a beta of 2.61. Huntsman has a 12 month low of $12.40 and a 12 month high of $25.22. The company has a 50-day moving average price of $22.51 and a 200-day moving average price of $19.36.

Huntsman (NYSE:HUN) last released its quarterly earnings results on Wednesday, February 15th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. Huntsman had a return on equity of 25.26% and a net margin of 2.11%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the previous year, the company posted $0.51 EPS. The business’s revenue was up 2.7% on a year-over-year basis. Analysts forecast that Huntsman will post $1.84 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th were given a $0.125 dividend. The ex-dividend date was Monday, March 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.04%. Huntsman’s dividend payout ratio (DPR) is presently 58.82%.

About Huntsman

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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