Huntsman Corp

On February 20, Eastman Chemical (EMN) announced that Cedroz received authorization from the Regulatory Affairs Directorate in Malta.

On December 18, Celanese (CE) announced that it will increase the prices for the GUR and GHR grades of UHMW-PE polymers.

On December 12, Eastman Chemical (EMN) announced that it entered into a collaboration with Clariant to distribute its Tamisolve NxG solvent.

As of the close on December 6, LyondellBasell’s (LYB) dividend yield was 4.53%—the highest yield in the past six years on a sequential basis.

At the end of the third quarter, Eastman Chemical’s total debt was $6.62 billion. The company’s debt increased after declining for three years.

On October 25, Eastman Chemical (EMN) announced its third-quarter earnings results. EMN reported adjusted EPS of $2.34.

On July 12, Eastman Chemical (EMN) announced that it has a new order for its Tritan from Bangkok-based JCP Plastic.

On June 14, Dow Chemical announced its expansion plans to meet growing end-market demand and applications.

LyondellBasell’s (LYB) Refining segment accounted for 23.1% of its total revenue in 4Q17 compared to 20.1% in 1Q18.

On April 23, Huntsman (HUN) announced that it had completed the acquisition of Demilec, a leading manufacturer and distributor of spray polyurethane foam (SPF) insulation systems.

At the end of 2017, Eastman Chemical (EMN) reported debt of $6.54 billion compared to $6.59 billion in 2016.

On March 29, 2018, Chemours (CC) announced a price increase for its range of fluoropolymer products across the globe.

Eastman Chemical (EMN) will demonstrate Tetrashield at the upcoming American Coatings Show in Indianapolis on April 10–12.

On March 13, 2018, Huntsman (HUN) announced that it acquired Demilec. Huntsman will pay $350 million in cash for the acquisition.

On March 16, 2018, Eastman Chemical (EMN) announced price hikes for certain products. The price hikes will be effective on April 1, 2018.

On February 23, 2018, Huntsman Corporation (HUN) increased its quarterly dividend by 30.0%. Annually, its dividend equals $0.65 per share.

On January 24, 2018, Celanese (CE) announced price hikes for propylene-based short-fiber and long-fiber thermoplastic compounds and its polyamide-based polymer grades.

In line with its carload traffic growth, Canadian Pacific Railway reported 11.5% growth in intermodal volumes.

As of January 25, 2018, LYB’s one-year forward price-to-earnings multiple stood at 12.60x, while its peer Eastman Chemical (EMN) had a one-year forward price-to-earnings multiple of 12.20x.

Kansas City Southern’s volumes After opening 2018 with a negative first week, Kansas City Southern (KSU) witnessed a positive week. The company’s carload traffic rose 6.3% to ~25,200 units in the week ended January 13, 2018, from 23,700 units in the second week of 2017. KSU, the smallest Class I railroad in the United States, earns […]

BNSF Railway’s railcar traffic In the week ended January 13, 2018, Warren Buffet’s BNSF Railway (BRK-B) recorded a minor carload traffic loss of 0.5%. The company hauled ~95,000 carloads, compared with ~95,300 carloads in the week ended January 14, 2017. BNSF Railway’s carload traffic fall was much lower than the 4.1% loss reported by US railroads […]

CSX’s (CSX) General Merchandise revenues fell by $152.0 million or 8% to $1.74 billion in 4Q17, down from $1.89 billion in 4Q16.

Kansas City Southern (KSU) registered a 3.8% gain in carload traffic in the 52nd week of 2017, going against the trend among other US railroads.

Rail giant CSX (CSX) reported double-digit carload traffic loss in the 52nd week of 2017. The company’s carload traffic slumped 15.7% that week.

In the final week of 2017, Eastern US giant Norfolk Southern (NSC) posted a 9.5% decline in carload traffic.

The year proved to be a better year for US rail freight (UNP) traffic, though freight volumes were still lower than the levels we saw in 2014 and 2015.

On December 19, Huntsman (HUN) announced changes to its board.

At the end of 3Q17, Huntsman’s interest expense stood at $134 million as compared to $153 million in 3Q16.

The analyst consensus target price for Huntsman is $37.55, which implies a return potential of 20.9%.

Huntsman’s (HUN) debt has been on a declining trend ever since it peaked at $5.2 billion in 2014.

On December 4, 2017, Huntsman (HUN) announced that it would pay the remaining $511 million of its Term Loan B due in 2023.

NSC’s carload traffic was up 5.7% to ~58,000 units in the week ended November 25, 2017, compared with 54,800 units in the week ended November 26, 2016.

Week 46: NSC’s carload traffic The Eastern US rail freight market is dominated by Norfolk Southern (NSC) and CSX (CSX). In the week ended November 18, 2017, NSC’s carload traffic fell very slightly by 0.2% to 67,400 units from 67,500 units in the week ended November 19, 2016. Norfolk Southern reported a much lower percentage fall […]

Venator, a spin-off of Huntsman (HUN), rose 0.80% and closed at $23.28 for the week ending November 24, 2017. The stock was listed on August 3, 2017.

On November 6, HUN announced that it will pay a dividend of $0.125 per share on December 29, which implies no change in its dividend rate over 4Q16.

On October 27, Huntsman (HUN) and Clariant announced that they mutually agreed to terminate a proposed merger of equals. The decision was approved by both boards.

In 2012, CE’s interest expense was $185.0 million and had gradually declined to $120.0 million in 2016.

On September 18, 2017, Venator Materials (VNTR), a spin-off of Huntsman (HUN), announced a $90.0 million business improvement plan.

Huntsman expects its Texas Gulf Coast facility to be fully operational once the engineering and safety checks are completed and there are available raw materials.

W.R. Grace’s (GRA) high debt level has resulted in higher interest expense for the company.

If PolyOne maintains its dividend rate, we can expect it to pay a dividend of $0.54 per share for fiscal 2017.

Huntsman’s forward price-to-earnings multiple On September 13, 2017, Huntsman’s (HUN) one-year forward PE (price-to-earnings) multiple was 12.4x. To compare, peer Eastman Chemical’s (EMN) multiple was 10.8x. Forward PE multiples can be used to compare companies operating in the same industry. Huntsman trades at premium At present, Huntsman is trading at a premium to Eastman Chemical. Analysts expect Huntsman […]

Analysts’ consensus for Huntsman The number of analysts covering Huntsman (HUN) stock has increased from eight analysts to nine analysts in the last month. Among them, 89% of the analysts have recommended “buy,” and 11% have recommended “hold.” There were no “sell” recommendations. Analysts have raised Huntsman’s 12-month target price to $30.11 from $28.71, implying a potential […]

Huntsman’s dividend yield Dividend yields are very important for long-term investors, as they fetch a steady income. Investors prefer companies with a strong dividend yield and growth. As Huntsman (HUN) has maintained its dividend rate, we can expect it to pay a fiscal 2017 dividend of $0.50 per share  At this dividend rate, Huntsman’s dividend yield […]

Huntsman (HUN) has declared a 3Q17 dividend of $0.13 per share, and is expected to pay it on September 29, 2017.

At the end of September 12, 2017, Eastman Chemical has returned 14.6% and has managed to outperform the broad-based SPDR S&P 500 ETF (SPY), which has returned 11.9% so far.

Eastman Chemical’s dividend payout has remained steady in the range of 28% to 32% from 2014 to 2016.

On September 5, 2017, Eastman Chemical announced that it would hike acids and aldehydes prices. The price hikes will be effective on September 6, 2017.

As of September 7, 2017, LyondellBasell’s current dividend yield stood at ~3.90%. LyondellBasell’s dividend yield is higher than its peers.

LyondellBasell’s (LYB) board approved its 3Q17 dividend on August 23, 2017. LyondellBasell will pay a dividend of $0.90 per share on September 13, 2017.

With big gains, Westlake Chemical stock has been trading 13.80% above its 100-day moving average price of $66.12, which indicates a clear upward trend.

At the end of 2Q17, Westlake Chemical’s dividend payout ratio stood at 17.10%. Since 2012, its dividend payout has been 9.0%–24%.

On August 15, Huntsman provided an update on its merger with Clariant. It’s on track to meet the regulatory conditions required to complete the merger.

On August 8, 2017, Huntsman (HUN) announced that its subsidiary, Venator Materials, had closed its initial IPO of 26,105,000 ordinary shares.

Air Products & Chemicals’ (APD) Industrial Gases-Americas segment was the largest revenue contributor to the company’s overall revenue.

On May 22, 2017, Huntsman (HUN) and Clariant announced that their respective boards have approved a merger to form a new entity called HuntsmanClariant.

On May 8, 2017, Huntsman’s (HUN) spinoff division Venator announced a price increase for its titanium dioxide pigments.

On March 17, 2017, Huntsman (HUN) announced plans to close down the white end finishing and packaging operation of its titanium dioxide manufacturing facility in Calais, France.

On March 16, 2017, of the 12 brokerage firms tracking Huntsman stock, 58% have recommended a “buy,” and 42% analysts have recommended a “hold.”

On March 16, 2017, Huntsman stock closed at $22.55. With its 1Q17 quarterly dividend of $0.125 per share, HUN’s current dividend yield now stands at 2.21%.

On February 9, 2017, Huntsman (HUN) announced a dividend of $0.125 per share for 1Q17 on the company’s outstanding common stock.

On February 16, 2017, Huntsman received approval from the IRS to keep a 40.0% interest in Venator Materials.

On January 17, 2017, Huntsman (HUN) announced the name of its proposed spin-off for its pigments and additives business. It will be called Venator Materials Corporation.

At the end of 3Q16, Huntsman’s (HUN) debt stood at $4.6 billion.

Huntsman’s (HUN) interest expense in the first three quarters of 2016 hovered between $50 million to $52 million per quarter.

On December 30, 2016, Huntsman (HUN) announced the completion of the previously announced sale of its European surfactants business to Innospec (IOSP).

On November 15, 2016, Huntsman (HUN) announced that it had refinanced its term loan B due in 2021 and term loan B due in 2023.

Chemours reported revenues of $1.4 billion in 3Q16, as compared to $1.48 billion in 3Q15, which implies a 5.4% fall in revenues on a YoY basis.

On September 12, 2016, Albemarle (ALB) announced that it had reached an agreement with Bolland Minera S.A. for the exclusive exploration and acquisition rights to a lithium resource in Antofalla.

Collateralized loan obligation (or CLO) deals worth $451 million were priced last week. Year-to-date CLO issuance stands at $7.1 billion.

According to data from Lipper, leveraged loan funds saw an inflow for the third consecutive week. The inflows came totaled $126 million last week.

LyondellBasell (LYB) is the leading global producer of olefins and polyolefins.

LyondellBasell (LYB) has returned more cash to shareholders through dividends and share buybacks than its peers.

The Dow Chemical Company’s Performance Materials & Chemicals segment is the company’s second-largest segment.

In 4Q14, TPG-Axon Capital Management increased holdings in Huntsman (HUN), Allison Transmission Holdings (ALSN), KAR Auction Services (KAR), and Zynga (ZNGA).

In 4Q14, TPG-Axon Management initiated stakes in Air Lease Corporation (AL), Axalta Coatings Systems Ltd. (AXTA), IMS Health Holdings Inc. (IMS), and Ubiquiti Networks Inc. (UBNT).

Ascend Capital started a new position in Huntsman Corp. (HUN). According to the latest 13F filings for 4Q14, it accounts for 2.45% of the hedge fund’s total portfolio.

New issue volumes for high yield debt rose 13.3% week-over-week to $6.8 billion across nine issues in the week ending October 31. Issuance had come in at $6 billion across 12 deals in the week ended October 24.

DuPont expects to enable both companies to pay dividends that in total equal DuPont’s dividend at the time of separation.

JANA Partners’ 13F filing said the fund sold its position in Huntsman (HUN) that accounted for 3.27% of JANA’s 4Q 2013 portfolio.

TPG-Axon exited a position in Twenty-First Century Fox-A (FOXA) that accounted for 5.23% of the fund’s 3Q portfolio.

TPG-Axon opened a new position in Hertz Global Holdings Inc. (HTZ) that accounts for 5.65% of the fund’s 4Q portfolio.

Dinakar Singh’s TPG-Axon initiated a new position in Equinix Inc. (EQIX), a global interconnection and data center company, that accounts for 6.09% of the fund’s portfolio.

TPG-Axon Capital Management LP (or TAC) is a privately owned $4 billion hedge fund firm founded by Dinakar Singh in February 2005.

JANA Partners LLC is a value-oriented investment advisor specializing in event-driven investing exclusively for qualified investors. Why buy Outerwall Inc. (OUTR)?