Weiss Asset Management LP Invests $805,000 in Huntsman Corporation $HUN

Weiss Asset Management LP acquired a new stake in Huntsman Corporation (NYSE:HUN) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 60,480 shares of the basic materials company’s stock, valued at approximately $805,000.

A number of other hedge funds also recently added to or reduced their stakes in HUN. Advisory Services Network LLC purchased a new position in Huntsman in the 3rd quarter valued at approximately $58,000. Caitong International Asset Management Co. Ltd raised its holdings in 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. Parkside Financial Bank & Trust boosted its position in Huntsman by 1,005.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 6,514 shares of the basic materials company’s stock worth $65,000 after purchasing an additional 5,925 shares in the last quarter. Platinum Investment Management Ltd. acquired a new stake in Huntsman in the fourth quarter valued at $68,000. Finally, IFP Advisors Inc increased its position in shares of Huntsman by 267.9% in the fourth quarter. IFP Advisors Inc now owns 8,094 shares of the basic materials company’s stock valued at $81,000 after buying an additional 5,894 shares in the last quarter. 84.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HUN has been the topic of several recent research reports. Royal Bank Of Canada boosted their price objective on shares of Huntsman from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Monday, May 4th. Bank of America lifted their target price on shares of Huntsman from $10.00 to $11.00 and gave the stock an “underperform” rating in a research report on Tuesday, June 30th. Citigroup upped their price target on shares of Huntsman from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, May 4th. The Goldman Sachs Group set a $12.00 price objective on shares of Huntsman in a research note on Thursday, July 16th. Finally, Wall Street Zen raised Huntsman from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Huntsman presently has an average rating of “Hold” and an average price target of $13.67.

Huntsman Price Performance

HUN stock opened at $11.74 on Tuesday. Huntsman Corporation has a 52-week low of $7.30 and a 52-week high of $16.08. The stock’s fifty day simple moving average is $12.88 and its 200-day simple moving average is $12.81. The company has a quick ratio of 0.75, a current ratio of 1.27 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -6.12 and a beta of 0.69.

Huntsman (NYSE:HUN) last announced its quarterly earnings data on Thursday, April 30th. The basic materials company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. Huntsman had a negative return on equity of 4.60% and a negative net margin of 5.83%.The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the business earned ($0.11) earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts expect that Huntsman Corporation will post -0.22 EPS for the current year.

Huntsman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.0875 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.35 annualized dividend and a yield of 3.0%. Huntsman’s payout ratio is -18.23%.

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.