Huntsman Corporation $HUN Stock: Pzena Investment Management LLC Cuts Stake

Pzena Investment Management LLC lessened its holdings in shares of Huntsman Corporation (NYSE:HUN) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,040,624 shares of the basic materials company’s stock after selling 121,048 shares during the quarter. Pzena Investment Management LLC owned approximately 2.87% of Huntsman worth $42,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Huntsman during the 2nd quarter valued at approximately $193,750,000. Dimensional Fund Advisors LP lifted its position in shares of Huntsman by 16.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,950,777 shares of the basic materials company’s stock worth $92,509,000 after buying an additional 1,003,187 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Huntsman in the second quarter valued at $23,596,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Huntsman by 117.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,037,635 shares of the basic materials company’s stock worth $13,811,000 after buying an additional 559,585 shares during the last quarter. Finally, First Wilshire Securities Management Inc. lifted its stake in shares of Huntsman by 0.7% in the 1st quarter. First Wilshire Securities Management Inc. now owns 1,018,221 shares of the basic materials company’s stock valued at $13,553,000 after purchasing an additional 7,251 shares during the last quarter. Institutional investors own 84.81% of the company’s stock.

Huntsman Stock Performance

NYSE:HUN opened at $9.92 on Thursday. Huntsman Corporation has a fifty-two week low of $7.30 and a fifty-two week high of $16.08. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.78 and a current ratio of 1.33. The company has a 50 day moving average price of $9.00 and a 200 day moving average price of $11.65. The stock has a market capitalization of $1.74 billion, a P/E ratio of -9.92 and a beta of 0.73.

Huntsman (NYSE:HUN) last announced its earnings results on Monday, November 2nd. The basic materials company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Huntsman had a negative net margin of 2.81% and a negative return on equity of 3.11%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.03) earnings per share. Equities research analysts forecast that Huntsman Corporation will post -0.26 EPS for the current year.

Analysts Set New Price Targets

HUN has been the topic of a number of analyst reports. Zacks Research cut Huntsman from a “hold” rating to a “strong sell” rating in a research note on Monday, October 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Huntsman in a report on Friday, October 30th. KeyCorp assumed coverage on Huntsman in a report on Friday, September 11th. They set an “overweight” rating and a $14.00 price objective for the company. The Goldman Sachs Group set a $12.00 price objective on shares of Huntsman in a report on Thursday, July 16th. Finally, Citigroup boosted their price target on shares of Huntsman from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.69.

Key Stories Impacting Huntsman

Here are the key news stories impacting Huntsman this week:

• Positive Sentiment: Huntsman reported third-quarter revenue of $1.72 billion, up 17.6% year over year and above analyst expectations. The company also swung to adjusted earnings per share of $0.04 from a loss a year earlier. Huntsman Q3 Swings to Adjusted Earnings, Revenue Rises
• Positive Sentiment: Barclays raised its price target to $11 from $10 and kept an equal-weight rating. That target implies more upside than the other revised targets cited in the news. Barclays recommendations
• Neutral Sentiment: UBS, Citigroup and RBC each lifted their targets from $9 to $10, while maintaining neutral or sector-perform ratings. At the cited share price, those targets suggest limited near-term upside and indicate analysts remain cautious. RBC Raises Price Target on Huntsman
• Neutral Sentiment: The earnings call was characterized as cautiously optimistic, but with ongoing headwinds; the available summary did not identify a specific near-term catalyst. Huntsman Earnings Call Signals Improvement Amid Headwinds
• Negative Sentiment: Adjusted EPS of $0.04 fell short of the $0.07 consensus estimate, tempering the positive revenue growth and swing to earnings. Huntsman reports Q3 adjusted EPS below consensus

About Huntsman

Huntsman Corporation (NYSE:HUN) is a global manufacturer of differentiated and commodity chemical products. Founded in 1970, the company develops and produces materials used by manufacturers in a broad range of industries, including construction, automotive, aerospace, electronics, energy, coatings, adhesives and consumer products.

Huntsman’s principal businesses include polyurethane products, performance products and advanced materials. Its portfolio includes polyurethane systems and intermediates, epoxy and other specialty resins, curing agents, amines, maleic anhydride and other chemicals used in insulation, composites, coatings, adhesives and industrial applications.

The company serves customers internationally through manufacturing facilities, research and development operations, and sales offices in North America, Europe, Asia-Pacific and other regions.