Sumitomo Mitsui Trust Group Inc. Trims Stock Position in Huntsman Corporation $HUN

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Huntsman Corporation (NYSE:HUN) by 33.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 42,004 shares of the basic materials company’s stock after selling 21,017 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Huntsman were worth $438,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of HUN. Hexagon Capital Partners LLC raised its stake in shares of Huntsman by 177.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,179 shares of the basic materials company’s stock valued at $34,000 after buying an additional 1,395 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Huntsman by 197.6% during the 2nd quarter. IFP Advisors Inc now owns 3,661 shares of the basic materials company’s stock valued at $38,000 after buying an additional 2,431 shares during the last quarter. Byrne Asset Management LLC purchased a new position in shares of Huntsman during the 2nd quarter valued at about $44,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Huntsman by 1,717.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,254 shares of the basic materials company’s stock valued at $51,000 after buying an additional 3,075 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Huntsman during the 1st quarter valued at about $53,000. Hedge funds and other institutional investors own 84.81% of the company’s stock.

Analysts Set New Price Targets

HUN has been the topic of a number of analyst reports. Jefferies Financial Group dropped their target price on Huntsman from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 10th. Royal Bank Of Canada dropped their target price on Huntsman from $12.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Monday, August 4th. Mizuho dropped their target price on Huntsman from $9.00 to $8.00 and set an “underperform” rating on the stock in a research report on Friday, October 3rd. Citigroup dropped their target price on Huntsman from $9.00 to $8.50 and set a “neutral” rating on the stock in a research report on Thursday, October 2nd. Finally, Alembic Global Advisors set a $11.00 target price on Huntsman in a research report on Monday. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Huntsman has a consensus rating of “Reduce” and an average target price of $10.91.

Huntsman Trading Up 0.7%

HUN stock opened at $8.24 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.54. Huntsman Corporation has a 12-month low of $7.74 and a 12-month high of $22.44. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -4.22 and a beta of 0.64. The business’s 50-day moving average is $9.61 and its 200 day moving average is $10.73.

Huntsman (NYSE:HUN) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported ($0.20) earnings per share (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 firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that Huntsman Corporation will post 0.32 EPS for the current fiscal year.

About Huntsman

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.