NEW YORK (TheStreet) -- Shares of Huntsman (HUN - Get Report) were climbing at the start of trading on Friday after the company reported better-than-expected earnings for the 2016 third quarter.

Before the opening bell, the Woodlands, TX-based manufacturer of chemical products posted adjusted earnings of 38 cents per diluted share, topping analysts' estimates of 36 cents per share.

Revenue of $2.36 billion fell short of analysts' projections of $2.48 billion.

Additionally, Huntsman said its subsidiary, which is temporarily named Huntsman Spin, filed an initial Form 10 with the SEC for the previously announced spinoff of its pigments and additives and textile effects businesses.

Subject to market conditions, the company plan to separate these businesses from Huntsman in the first half of next year.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.

The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, attractive valuation levels, good cash flow from operations and notable return on equity.

The team believes its strengths outweigh the fact that the company shows low profit margins.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: HUN