Evergreen Capital Management LLC Makes New Investment in Huntsman Corporation $HUN

Evergreen Capital Management LLC acquired a new stake in Huntsman Corporation (NYSE:HUN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 88,946 shares of the basic materials company’s stock, valued at approximately $799,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Entropy Technologies LP increased its holdings in Huntsman by 453.9% during the 2nd quarter. Entropy Technologies LP now owns 107,649 shares of the basic materials company’s stock worth $1,122,000 after purchasing an additional 88,215 shares during the period. Arkadios Wealth Advisors purchased a new position in shares of Huntsman in the 2nd quarter valued at about $572,000. Boston Partners grew its position in shares of Huntsman by 657.9% during the second quarter. Boston Partners now owns 982,508 shares of the basic materials company’s stock worth $10,102,000 after buying an additional 852,877 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Huntsman by 47.4% during the second quarter. Advisors Asset Management Inc. now owns 558,344 shares of the basic materials company’s stock worth $5,818,000 after buying an additional 179,476 shares during the period. Finally, Regents Gate Capital LLP acquired a new stake in Huntsman in the second quarter valued at approximately $2,217,000. Hedge funds and other institutional investors own 84.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HUN shares. Zacks Research upgraded shares of Huntsman from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Bank of America reiterated an “underperform” rating and set a $8.00 target price (down previously from $9.00) on shares of Huntsman in a research note on Tuesday, October 14th. JPMorgan Chase & Co. dropped their target price on Huntsman from $20.00 to $11.00 and set an “overweight” rating on the stock in a report on Monday, November 10th. KeyCorp reaffirmed a “sector weight” rating on shares of Huntsman in a report on Monday, December 22nd. Finally, Alembic Global Advisors set a $11.00 price objective on Huntsman in a research report on Monday, October 27th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Huntsman presently has an average rating of “Reduce” and an average target price of $11.00.

Huntsman Trading Down 1.0%

HUN opened at $11.93 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.36 and a debt-to-equity ratio of 0.54. Huntsman Corporation has a 52 week low of $7.30 and a 52 week high of $18.53. The business’s 50 day moving average is $10.11 and its two-hundred day moving average is $9.95. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -6.28 and a beta of 0.68.

Huntsman (NYSE:HUN) last announced its earnings results on Thursday, November 6th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.45 billion. Huntsman had a negative net margin of 5.69% and a negative return on equity of 3.26%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. On average, research analysts predict that Huntsman Corporation will post 0.32 EPS for the current year.

Huntsman Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a $0.0875 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.35 dividend on an annualized basis and a yield of 2.9%. Huntsman’s payout ratio is currently -18.42%.

Huntsman Profile

Huntsman Corporation is a global manufacturer and marketer of specialty chemicals with headquarters in The Woodlands, Texas. Founded in 1970 by entrepreneur Jon Huntsman Sr., the company has grown through strategic acquisitions and organic expansion to establish a broad portfolio of products serving diverse end markets. Huntsman maintains a presence in more than 30 countries, operating manufacturing facilities across North America, Europe, Asia-Pacific, Latin America and the Middle East.

The company organizes its operations into several core business segments, including Polyurethanes, Performance Products, Advanced Materials, and Textile Effects.