State of New Jersey Common Pension Fund D Increases Stock Holdings in Huntsman Corporation $HUN

State of New Jersey Common Pension Fund D increased its holdings in shares of Huntsman Corporation (NYSE:HUN) by 46.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,947 shares of the basic materials company’s stock after buying an additional 51,718 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.09% of Huntsman worth $1,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC grew its stake in shares of Huntsman by 177.9% during the first quarter. Hexagon Capital Partners LLC now owns 2,179 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 1,395 shares during the last quarter. IFP Advisors Inc grew its position in Huntsman by 197.6% during the 2nd quarter. IFP Advisors Inc now owns 3,661 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 2,431 shares during the last quarter. Byrne Asset Management LLC purchased a new stake in Huntsman during the 2nd quarter worth approximately $44,000. Caitong International Asset Management Co. Ltd grew its position in 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 worth $51,000 after purchasing an additional 3,075 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Huntsman during the first quarter valued at $53,000. 84.81% of the stock is currently owned by hedge funds and other institutional investors.

Huntsman Stock Up 0.7%

Shares of HUN opened at $8.24 on Monday. Huntsman Corporation has a 52 week low of $7.74 and a 52 week high of $22.44. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -4.22 and a beta of 0.64. The stock’s 50-day moving average price is $9.61 and its 200-day moving average price is $10.70.

Huntsman (NYSE:HUN) last released its quarterly earnings data 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 company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the company posted $0.14 EPS. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, sell-side analysts predict that Huntsman Corporation will post 0.32 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HUN. The Goldman Sachs Group dropped their price objective on shares of Huntsman from $10.00 to $9.00 and set a “sell” rating on the stock in a report on Friday, October 17th. Bank of America reiterated an “underperform” rating and set a $8.00 price target (down previously from $9.00) on shares of Huntsman in a research note on Tuesday, October 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Huntsman in a research report on Wednesday, October 8th. Alembic Global Advisors set a $11.00 target price on Huntsman in a research report on Monday, October 27th. Finally, 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. Two equities research 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. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $10.91.

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.