SouthState Corp Makes New $75,000 Investment in Huntsman Co. (NYSE:HUN)

Posted by ABMN Staff on Aug 6th, 2022

SouthState Corp purchased a new position in shares of Huntsman Co. (NYSE:HUN – Get Rating) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,000 shares of the basic materials company’s stock, valued at approximately $75,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HUN. CWM LLC acquired a new position in shares of Huntsman in the 4th quarter worth approximately $27,000. Ellevest Inc. grew its stake in shares of Huntsman by 369.0% in the 1st quarter. Ellevest Inc. now owns 802 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 631 shares during the last quarter. Orion Capital Management LLC acquired a new position in shares of Huntsman in the 4th quarter worth approximately $35,000. Capital Advisors Ltd. LLC acquired a new position in shares of Huntsman in the 4th quarter worth approximately $38,000. Finally, Bourgeon Capital Management LLC acquired a new position in shares of Huntsman in the 1st quarter worth approximately $38,000. 84.02% of the stock is currently owned by institutional investors.

Huntsman Stock Performance

Shares of HUN opened at $28.92 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.23 and a current ratio of 2.12. The company has a market capitalization of $5.82 billion, a PE ratio of 4.98, a PEG ratio of 1.12 and a beta of 1.16. The company’s 50 day moving average price is $30.29 and its 200 day moving average price is $34.43. Huntsman Co. has a 52 week low of $24.09 and a 52 week high of $41.65.

Huntsman (NYSE:HUN – Get Rating) last posted its earnings results on Tuesday, August 2nd. The basic materials company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.14. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Huntsman had a net margin of 13.45% and a return on equity of 22.23%. The company’s revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. Research analysts expect that Huntsman Co. will post 4.45 EPS for the current fiscal year.

Huntsman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a yield of 2.94%. Huntsman’s dividend payout ratio (DPR) is presently 14.63%.

Analyst Upgrades and Downgrades

HUN has been the topic of several recent research reports. Wells Fargo & Company lowered their price objective on shares of Huntsman from $42.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 22nd. Citigroup dropped their target price on shares of Huntsman from $35.00 to $34.00 in a research report on Thursday. StockNews.com downgraded shares of Huntsman from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 15th. Bank of America downgraded shares of Huntsman from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $45.00 to $34.00 in a research report on Tuesday, June 14th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Huntsman from $40.00 to $35.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.77.

About Huntsman

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Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates through four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.