Rhumbline Advisers Sells 6,337 Shares of Huntsman Co. (NYSE:HUN)

Rhumbline Advisers lessened its stake in Huntsman Co. (NYSE:HUN) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 168,339 shares of the basic materials company’s stock after selling 6,337 shares during the period. Rhumbline Advisers owned approximately 0.10% of Huntsman worth $2,658,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Two Sigma Investments LP grew its position in Huntsman by 28.6% in the 4th quarter. Two Sigma Investments LP now owns 1,074,347 shares of the basic materials company’s stock worth $19,370,000 after purchasing an additional 239,193 shares during the period. Vanguard Group Inc. grew its position in Huntsman by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 16,482,011 shares of the basic materials company’s stock worth $297,171,000 after purchasing an additional 130,702 shares during the period. Northern Trust Corp grew its position in Huntsman by 14.2% in the 4th quarter. Northern Trust Corp now owns 1,009,093 shares of the basic materials company’s stock worth $18,194,000 after purchasing an additional 125,595 shares during the period. Charles Schwab Investment Management Inc. grew its position in Huntsman by 6.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,686,557 shares of the basic materials company’s stock worth $102,529,000 after purchasing an additional 349,502 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Huntsman by 30.1% in the 4th quarter. Ameriprise Financial Inc. now owns 155,213 shares of the basic materials company’s stock worth $2,798,000 after purchasing an additional 35,949 shares during the period. Institutional investors own 84.81% of the company’s stock.

Huntsman Stock Down 7.6%

HUN opened at $10.90 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.83 and a current ratio of 1.36. Huntsman Co. has a fifty-two week low of $10.75 and a fifty-two week high of $25.12. The firm’s fifty day moving average is $12.35 and its 200 day moving average is $15.56. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -9.90 and a beta of 0.72.

Huntsman (NYSE:HUN) last released its earnings results on Thursday, May 1st. The basic materials company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). Huntsman had a negative net margin of 3.13% and a negative return on equity of 0.39%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the company earned ($0.06) EPS. Huntsman’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, sell-side analysts forecast that Huntsman Co. will post 0.32 earnings per share for the current fiscal year.

Huntsman Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.18%. The ex-dividend date is Friday, June 13th. Huntsman’s dividend payout ratio (DPR) is -109.89%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. UBS Group cut their target price on shares of Huntsman from $18.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Wall Street Zen downgraded shares of Huntsman from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Wells Fargo & Company cut shares of Huntsman from an “overweight” rating to a “reduce” rating in a research note on Monday, May 5th. Bank of America cut shares of Huntsman from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $15.00 in a research note on Tuesday, April 15th. Finally, Morgan Stanley dropped their price target on shares of Huntsman from $20.00 to $13.50 and set an “equal weight” rating on the stock in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.00.

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.