Bank of New York Mellon Corp Sells 76,246 Shares of Huntsman Corporation $HUN

Bank of New York Mellon Corp decreased its position in Huntsman Corporation (NYSE:HUN) by 5.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,254,619 shares of the basic materials company’s stock after selling 76,246 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.72% of Huntsman worth $13,073,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in Huntsman by 345.7% in the 1st quarter. AQR Capital Management LLC now owns 9,926,971 shares of the basic materials company’s stock worth $151,982,000 after buying an additional 7,699,922 shares during the period. Charles Schwab Investment Management Inc. grew its position in Huntsman by 7.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,105,566 shares of the basic materials company’s stock worth $96,407,000 after acquiring an additional 419,009 shares in the last quarter. Invesco Ltd. boosted its stake in Huntsman by 1.3% during the first quarter. Invesco Ltd. now owns 6,064,044 shares of the basic materials company’s stock worth $95,751,000 after buying an additional 75,097 shares during the period. Pzena Investment Management LLC raised its position in Huntsman by 9.3% in the 2nd quarter. Pzena Investment Management LLC now owns 5,310,768 shares of the basic materials company’s stock worth $55,338,000 after purchasing an additional 451,761 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Huntsman by 97.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,137,285 shares of the basic materials company’s stock worth $33,748,000 after acquiring an additional 1,052,127 shares during the last quarter. 84.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HUN shares. UBS Group cut their price target on Huntsman from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Mizuho cut their price objective on shares of Huntsman from $9.00 to $8.00 and set an “underperform” rating on the stock in a report on Friday, October 3rd. Citigroup cut 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. The Goldman Sachs Group decreased their target price on Huntsman from $10.00 to $9.00 and set a “sell” rating for the company in a report on Friday, October 17th. Finally, Wells Fargo & Company decreased their price objective on shares of Huntsman from $13.00 to $9.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Huntsman presently has a consensus rating of “Reduce” and a consensus price target of $10.00.

Huntsman Trading Up 0.6%

HUN stock opened at $8.29 on Wednesday. Huntsman Corporation has a 12-month low of $7.30 and a 12-month high of $20.94. The business’s 50-day moving average is $8.93 and its 200 day moving average is $10.29. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -4.25 and a beta of 0.68.

Huntsman (NYSE:HUN) last released its earnings results on Thursday, November 6th. The basic materials company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.10. 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 the consensus estimate of $1.45 billion. During the same quarter last year, the business posted $0.10 earnings per share. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Huntsman Corporation will post 0.32 EPS for the current fiscal year.

Huntsman Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Monday, December 15th. Huntsman’s dividend payout ratio is -18.42%.

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.