Verity Asset Management Inc. lessened its position in shares of Huntsman Co. (NYSE:HUN) by 34.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,734 shares of the basic materials company’s stock after selling 4,631 shares during the quarter. Verity Asset Management Inc.’s holdings in Huntsman were worth $255,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in HUN. Icon Wealth Partners LLC acquired a new stake in Huntsman in the 1st quarter valued at $28,000. Meridian Wealth Management LLC acquired a new stake in Huntsman in the 1st quarter valued at $37,000. FinTrust Capital Advisors LLC boosted its stake in Huntsman by 130.2% in the 1st quarter. FinTrust Capital Advisors LLC now owns 2,021 shares of the basic materials company’s stock valued at $45,000 after buying an additional 1,143 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Huntsman by 67.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,305 shares of the basic materials company’s stock valued at $52,000 after buying an additional 931 shares in the last quarter. Finally, Pearl River Capital LLC acquired a new stake in Huntsman in the 1st quarter valued at $54,000. 75.32% of the stock is currently owned by institutional investors.
Several analysts recently commented on HUN shares. Citigroup set a $21.00 price objective on Huntsman and gave the company a “hold” rating in a research report on Monday, July 15th. ValuEngine upgraded Huntsman from a “strong sell” rating to a “sell” rating in a research report on Friday, July 19th. Barclays reiterated a “sell” rating and issued a $19.00 price objective on shares of Huntsman in a research report on Wednesday, July 31st. KeyCorp cut their price objective on Huntsman from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Finally, Jefferies Financial Group cut their price objective on Huntsman from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, June 17th. Three analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.36.
Huntsman (NYSE:HUN) last posted its earnings results on Tuesday, July 30th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.28 billion. Huntsman had a negative net margin of 1.37% and a positive return on equity of 18.68%. The firm’s revenue was down 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. On average, sell-side analysts forecast that Huntsman Co. will post 2.31 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.1625 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.65 annualized dividend and a yield of 3.47%. Huntsman’s payout ratio is presently 19.46%.
Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates in 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.
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