Bank of New York Mellon Corp Sells 6,581 Shares of Huntsman Co. (NYSE:HUN)

Bank of New York Mellon Corp trimmed its position in shares of Huntsman Co. (NYSE:HUN) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,034,203 shares of the basic materials company’s stock after selling 6,581 shares during the quarter. Bank of New York Mellon Corp owned 0.60% of Huntsman worth $23,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Butensky & Cohen Financial Security Inc. lifted its holdings in Huntsman by 0.3% in the second quarter. Butensky & Cohen Financial Security Inc. now owns 152,577 shares of the basic materials company’s stock valued at $3,474,000 after acquiring an additional 483 shares during the period. Dumont & Blake Investment Advisors LLC boosted its holdings in shares of Huntsman by 1.7% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 30,817 shares of the basic materials company’s stock worth $802,000 after buying an additional 505 shares during the last quarter. Quadrant Capital Group LLC grew its position in Huntsman by 93.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,081 shares of the basic materials company’s stock valued at $27,000 after buying an additional 521 shares during the period. GAMMA Investing LLC increased its holdings in Huntsman by 44.0% during the first quarter. GAMMA Investing LLC now owns 2,115 shares of the basic materials company’s stock valued at $55,000 after buying an additional 646 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in Huntsman by 4.0% in the first quarter. William Blair Investment Management LLC now owns 17,131 shares of the basic materials company’s stock worth $446,000 after acquiring an additional 653 shares during the period. 84.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HUN. UBS Group reduced their price objective on Huntsman from $23.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Royal Bank of Canada decreased their price objective on Huntsman from $30.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company lowered their price objective on Huntsman from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on shares of Huntsman from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Citigroup lowered their price target on shares of Huntsman from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.56.

Huntsman Trading Up 2.7 %

Huntsman stock opened at $21.90 on Thursday. Huntsman Co. has a 1 year low of $19.91 and a 1 year high of $27.98. The firm’s 50 day moving average price is $22.07 and its 200-day moving average price is $23.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.30 and a quick ratio of 0.77. The stock has a market cap of $3.79 billion, a P/E ratio of -42.12 and a beta of 1.01.

Huntsman (NYSE:HUN) last announced its quarterly earnings results on Monday, August 5th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.61 billion. Huntsman had a negative net margin of 1.44% and a positive return on equity of 0.26%. Huntsman’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. On average, equities analysts predict that Huntsman Co. will post 0.2 earnings per share for the current fiscal year.

Huntsman Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.57%. The ex-dividend date is Friday, September 13th. Huntsman’s dividend payout ratio is presently -192.31%.

Huntsman Company Profile

Huntsman Corporation manufactures and sells diversified organic chemical products worldwide. The company operates in three segments: Polyurethanes, Performance Products, and Advanced Materials. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyether and polyester polyols, and thermoplastic polyurethane; and aniline, benzene, nitrobenzene and other co-products.