Cambria Investment Management L.P. Acquires 294,793 Shares of Huntsman Corporation $HUN

Cambria Investment Management L.P. boosted its holdings in Huntsman Corporation (NYSE:HUN) by 71.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 706,492 shares of the basic materials company’s stock after acquiring an additional 294,793 shares during the quarter. Cambria Investment Management L.P. owned 0.41% of Huntsman worth $6,344,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HUN. Strategic Advocates LLC purchased a new position in shares of Huntsman during the third quarter valued at approximately $27,000. SJS Investment Consulting Inc. bought a new position in Huntsman during the 3rd quarter valued at $33,000. GAMMA Investing LLC lifted its stake in Huntsman by 104.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,935 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 2,015 shares in the last quarter. Strengthening Families & Communities LLC boosted its holdings in Huntsman by 2,182.0% during the 3rd quarter. Strengthening Families & Communities LLC now owns 4,313 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 4,124 shares during the last quarter. Finally, Bayforest Capital Ltd grew its stake in shares of Huntsman by 986.0% in the 3rd quarter. Bayforest Capital Ltd now owns 6,505 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 5,906 shares in the last quarter. 84.81% of the stock is owned by institutional investors.

Huntsman Stock Down 1.9%

HUN opened at $11.98 on Thursday. Huntsman Corporation has a twelve month low of $7.30 and a twelve month high of $17.17. The company’s 50-day moving average price is $12.29 and its two-hundred day moving average price is $10.49. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -7.30 and a beta of 0.66. The company has a quick ratio of 0.78, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Huntsman (NYSE:HUN) last issued its quarterly earnings results on Tuesday, February 17th. The basic materials company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.08). Huntsman had a negative return on equity of 3.97% and a negative net margin of 5.00%.The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the business earned ($0.25) EPS. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, equities analysts expect that Huntsman Corporation will post 0.32 earnings per share for the current year.

Huntsman Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a $0.0875 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.35 annualized dividend and a dividend yield of 2.9%. Huntsman’s payout ratio is presently -21.34%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. downgraded shares of Huntsman from an “overweight” rating to a “neutral” rating and increased their target price for the company from $11.00 to $14.00 in a report on Thursday, February 19th. Wells Fargo & Company increased their price objective on shares of Huntsman from $9.00 to $12.00 and gave the company an “equal weight” rating in a research note on Thursday, February 19th. Mizuho lifted their target price on shares of Huntsman from $8.00 to $9.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 18th. Alembic Global Advisors upgraded Huntsman from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 17th. Finally, Royal Bank Of Canada upped their target price on Huntsman from $13.00 to $14.00 and gave the company a “sector perform” rating in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Huntsman presently has a consensus rating of “Reduce” and a consensus price target of $12.41.

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.