Geode Capital Management LLC Raises Stake in Huntsman Corporation $HUN

Geode Capital Management LLC grew its position in Huntsman Corporation (NYSE:HUN) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,689,225 shares of the basic materials company’s stock after purchasing an additional 10,154 shares during the quarter. Geode Capital Management LLC owned approximately 1.55% of Huntsman worth $28,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of HUN. Invesco Ltd. lifted its position in shares of Huntsman by 1.3% in the first quarter. Invesco Ltd. now owns 6,064,044 shares of the basic materials company’s stock valued at $95,751,000 after acquiring an additional 75,097 shares in the last quarter. Investors Research Corp grew its position in shares of Huntsman by 140.8% during the second quarter. Investors Research Corp now owns 66,604 shares of the basic materials company’s stock worth $694,000 after purchasing an additional 38,950 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Huntsman by 7.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,105,566 shares of the basic materials company’s stock valued at $96,407,000 after purchasing an additional 419,009 shares during the period. Arkadios Wealth Advisors purchased a new position in Huntsman in the 2nd quarter worth approximately $572,000. Finally, Raymond James Financial Inc. boosted its stake in Huntsman by 40.5% in the 1st quarter. Raymond James Financial Inc. now owns 426,718 shares of the basic materials company’s stock worth $6,738,000 after purchasing an additional 123,069 shares during the period. 84.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HUN has been the topic of several recent analyst reports. Royal Bank Of Canada reduced their price objective on shares of Huntsman from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Monday, November 10th. JPMorgan Chase & Co. cut their target price on shares of Huntsman from $20.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, November 10th. UBS Group decreased their price target on shares of Huntsman from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Zacks Research raised shares of Huntsman from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Huntsman in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $10.00.

Huntsman Stock Performance

Shares of NYSE:HUN opened at $10.42 on Friday. The firm has a fifty day simple moving average of $8.72 and a two-hundred day simple moving average of $10.16. Huntsman Corporation has a 52 week low of $7.30 and a 52 week high of $20.94. 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 stock has a market capitalization of $1.81 billion, a P/E ratio of -5.34 and a beta of 0.68.

Huntsman (NYSE:HUN) last announced its quarterly earnings results on Thursday, November 6th. The basic materials company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.45 billion. Huntsman had a negative net margin of 5.75% and a negative return on equity of 2.48%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 EPS. On average, analysts expect that Huntsman Corporation will post 0.32 earnings per share for the current fiscal year.

Huntsman Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $0.0875 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 3.4%. Huntsman’s payout ratio is -18.42%.

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.