Mackenzie Financial Corp Purchases 9,282 Shares of Huntsman Corporation (NYSE:HUN)

Mackenzie Financial Corp increased its holdings in shares of Huntsman Corporation (NYSE:HUN) by 30.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,194 shares of the basic materials company’s stock after acquiring an additional 9,282 shares during the period. Mackenzie Financial Corp’s holdings in Huntsman were worth $635,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HUN. Hexagon Capital Partners LLC boosted its position in shares of Huntsman by 177.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,179 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 1,395 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Huntsman by 74.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,232 shares of the basic materials company’s stock worth $40,000 after buying an additional 956 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Huntsman during the 4th quarter worth about $60,000. Versant Capital Management Inc increased its stake in shares of Huntsman by 2,388.4% in the 1st quarter. Versant Capital Management Inc now owns 4,081 shares of the basic materials company’s stock valued at $64,000 after acquiring an additional 3,917 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Huntsman in the 4th quarter valued at approximately $65,000. 84.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on HUN. Morgan Stanley decreased their price objective on shares of Huntsman from $20.00 to $13.50 and set an “equal weight” rating for the company in a report on Monday, May 5th. The Goldman Sachs Group decreased their price target on shares of Huntsman from $13.50 to $12.00 and set a “sell” rating for the company in a report on Tuesday, July 8th. Citigroup dropped their price objective on Huntsman from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday. Wells Fargo & Company reduced their target price on Huntsman from $13.00 to $9.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, UBS Group lowered their price target on Huntsman from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.28.

Huntsman Stock Performance

Shares of Huntsman stock opened at $9.25 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.43 and a quick ratio of 0.82. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -4.74 and a beta of 0.70. The stock’s 50-day moving average is $10.93 and its 200-day moving average is $13.64. Huntsman Corporation has a one year low of $9.02 and a one year high of $25.12.

Huntsman (NYSE:HUN) last announced its earnings results on Thursday, July 31st. The basic materials company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Huntsman had a negative return on equity of 2.48% and a negative net margin of 5.75%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the company posted $0.14 EPS. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. Equities analysts predict that Huntsman Corporation will post 0.32 earnings per share for the current fiscal year.

Huntsman Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.8%. Huntsman’s payout ratio is currently -51.28%.

Huntsman 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.