Ethic Inc. Boosts Holdings in Huntsman Corporation $HUN

Ethic Inc. lifted its stake in shares of Huntsman Corporation (NYSE:HUN) by 50.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,559 shares of the basic materials company’s stock after buying an additional 16,874 shares during the quarter. Ethic Inc.’s holdings in Huntsman were worth $534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in HUN. Hexagon Capital Partners LLC boosted its holdings in Huntsman by 177.9% in the first 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 period. IFP Advisors Inc raised its position in Huntsman by 197.6% in the second quarter. IFP Advisors Inc now owns 3,661 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 2,431 shares in the last quarter. Byrne Asset Management LLC bought a new stake in Huntsman in the second quarter worth about $44,000. Caitong International Asset Management Co. Ltd raised its position in Huntsman by 1,717.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,254 shares of the basic materials company’s stock worth $51,000 after acquiring an additional 3,075 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in Huntsman during the 1st quarter worth about $53,000. Institutional investors and hedge funds own 84.81% of the company’s stock.

Analyst Ratings Changes

HUN has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on Huntsman from $13.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 5th. Alembic Global Advisors set a $11.00 price target on Huntsman in a report on Monday. Mizuho cut their target price on Huntsman from $9.00 to $8.00 and set an “underperform” rating for the company in a research note on Friday, October 3rd. Citigroup dropped their price objective on Huntsman from $9.00 to $8.50 and set a “neutral” rating for the company in a research note on Thursday, October 2nd. Finally, Royal Bank Of Canada lowered their target price on Huntsman from $12.00 to $10.00 and set a “sector perform” rating for the company in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $10.91.

Huntsman Stock Down 2.7%

Shares of Huntsman stock opened at $9.04 on Wednesday. The firm has a market cap of $1.57 billion, a PE ratio of -4.64 and a beta of 0.64. Huntsman Corporation has a 52-week low of $7.74 and a 52-week high of $22.69. The business’s 50 day simple moving average is $9.74 and its 200 day simple moving average is $10.82. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.85 and a current ratio of 1.43.

Huntsman (NYSE:HUN) last issued 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). The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.51 billion. Huntsman had a negative return on equity of 2.48% and a negative net margin of 5.75%.The business’s revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 earnings per share. On average, analysts predict that Huntsman Corporation will post 0.32 earnings per share for the current fiscal year.

Huntsman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 11.1%. The ex-dividend date of this dividend was Monday, September 15th. Huntsman’s dividend payout ratio is presently -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.