AXQ Capital LP Reduces Holdings in Huntsman Corporation $HUN

AXQ Capital LP cut its position in shares of Huntsman Corporation (NYSE:HUN) by 62.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,197 shares of the basic materials company’s stock after selling 101,991 shares during the period. AXQ Capital LP’s holdings in Huntsman were worth $612,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Strategic Advocates LLC purchased a new stake in Huntsman in the 3rd quarter worth about $27,000. Strengthening Families & Communities LLC grew its position in Huntsman by 2,182.0% in the 3rd quarter. Strengthening Families & Communities LLC now owns 4,313 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 4,124 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Huntsman in the third quarter worth $58,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Huntsman by 121.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 6,751 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 3,706 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Huntsman by 267.9% during the fourth quarter. IFP Advisors Inc now owns 8,094 shares of the basic materials company’s stock worth $81,000 after purchasing an additional 5,894 shares during the last quarter. 84.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HUN shares. JPMorgan Chase & Co. lowered Huntsman from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $11.00 to $14.00 in a report on Thursday, February 19th. Wall Street Zen raised Huntsman from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Royal Bank Of Canada raised their target price on shares of Huntsman from $14.00 to $15.00 and gave the company a “sector perform” rating in a research report on Monday, May 4th. Mizuho lifted their price objective 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. Finally, Weiss Ratings raised shares of Huntsman from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Huntsman presently has a consensus rating of “Reduce” and a consensus price target of $13.17.

Huntsman Stock Performance

HUN opened at $14.77 on Thursday. The company has a current ratio of 1.27, a quick ratio of 0.75 and a debt-to-equity ratio of 0.58. Huntsman Corporation has a 12-month low of $7.30 and a 12-month high of $15.90. The firm has a 50 day moving average of $13.86 and a two-hundred day moving average of $12.16. The firm has a market capitalization of $2.59 billion, a PE ratio of -7.69 and a beta of 0.64.

Huntsman (NYSE:HUN) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.03. Huntsman had a negative net margin of 5.83% and a negative return on equity of 4.60%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm earned ($0.11) EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts anticipate that Huntsman Corporation will post -0.25 EPS for the current year.

Huntsman Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, June 15th. Huntsman’s dividend payout ratio (DPR) is currently -18.23%.

About Huntsman

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.