Edgestream Partners L.P. Takes Position in Huntsman Corporation $HUN

Edgestream Partners L.P. acquired a new position in Huntsman Corporation (NYSE:HUN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 237,346 shares of the basic materials company’s stock, valued at approximately $2,473,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. IFP Advisors Inc lifted its stake in shares of Huntsman by 197.6% in the 2nd quarter. IFP Advisors Inc now owns 3,661 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 2,431 shares during the period. Byrne Asset Management LLC bought a new position in Huntsman during the 2nd quarter valued at $44,000. Caitong International Asset Management Co. Ltd increased its position 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 purchasing an additional 3,075 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of Huntsman in the 1st quarter worth $53,000. Finally, Strengthening Families & Communities LLC boosted its stake in Huntsman by 1,966.7% during the first quarter. Strengthening Families & Communities LLC now owns 3,906 shares of the basic materials company’s stock valued at $62,000 after buying an additional 3,717 shares in the last quarter. 84.81% of the stock is currently owned by institutional investors.

Huntsman Stock Performance

Shares of Huntsman stock opened at $9.99 on Friday. Huntsman Corporation has a 12 month low of $7.30 and a 12 month high of $20.94. The company has a quick ratio of 0.84, a current ratio of 1.36 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.74 billion, a PE ratio of -5.26 and a beta of 0.68. The business has a fifty day simple moving average of $8.80 and a 200-day simple moving average of $10.10.

Huntsman (NYSE:HUN) last posted its quarterly 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 3.26% and a negative net margin of 5.69%.The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. Huntsman’s quarterly revenue was down 5.2% 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.

Huntsman Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, December 15th. Huntsman’s dividend payout ratio (DPR) is currently -52.63%.

Analyst Ratings Changes

Several equities research analysts have commented on HUN shares. Bank of America reiterated an “underperform” rating and issued a $8.00 price target (down from $9.00) on shares of Huntsman in a research report on Tuesday, October 14th. Jefferies Financial Group reduced their target price on shares of Huntsman from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. Mizuho dropped their price target on Huntsman from $9.00 to $8.00 and set an “underperform” rating on the stock in a report on Friday, October 3rd. UBS Group decreased their target price on Huntsman from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. reduced their target price on Huntsman from $20.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Huntsman currently has an average rating of “Reduce” and a consensus price target of $10.23.

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.