Quantitative Systematic Strategies LLC cut its holdings in shares of Huntsman Co. (NYSE:HUN) by 55.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,519 shares of the basic materials company’s stock after selling 59,365 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Huntsman were worth $1,287,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Credit Agricole S A acquired a new position in Huntsman in the second quarter worth about $25,000. AllSquare Wealth Management LLC grew its stake in Huntsman by 258.9% in the first quarter. AllSquare Wealth Management LLC now owns 1,500 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 1,082 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in Huntsman by 173.6% in the first quarter. Harvest Fund Management Co. Ltd now owns 1,699 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 1,078 shares in the last quarter. Deseret Mutual Benefit Administrators acquired a new position in Huntsman in the second quarter worth about $50,000. Finally, Gradient Investments LLC grew its stake in Huntsman by 29.2% in the second quarter. Gradient Investments LLC now owns 2,413 shares of the basic materials company’s stock worth $64,000 after purchasing an additional 545 shares in the last quarter. Institutional investors and hedge funds own 81.56% of the company’s stock.
A number of research firms recently commented on HUN. Morgan Stanley lifted their price target on Huntsman from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, August 2nd. Wolfe Research began coverage on Huntsman in a research note on Wednesday, June 9th. They issued a “market perform” rating for the company. Wells Fargo & Company decreased their target price on Huntsman from $36.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, July 13th. KeyCorp lifted their target price on Huntsman from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, August 2nd. Finally, Zacks Investment Research downgraded Huntsman from a “buy” rating to a “hold” rating and set a $28.00 target price for the company. in a research note on Friday, June 11th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $33.21.
Huntsman (NYSE:HUN) last announced its earnings results on Thursday, July 29th. The basic materials company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Huntsman had a return on equity of 14.21% and a net margin of 8.95%. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the company earned ($0.14) earnings per share. The firm’s quarterly revenue was up 62.3% compared to the same quarter last year. Equities research analysts anticipate that Huntsman Co. will post 3.14 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Wednesday, September 15th will be issued a dividend of $0.1875 per share. The ex-dividend date is Tuesday, September 14th. This represents a $0.75 annualized dividend and a yield of 2.93%. Huntsman’s payout ratio is 76.53%.
Huntsman Corp. engages in the manufacturing of differentiated organic chemical products. It operates through the following segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment manufactures and markets polyurethane chemicals, including MDI products, PO, polyols, PG, TPU, aniline, and MTBE.
Want to see what other hedge funds are holding HUN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntsman Co. (NYSE:HUN).
Receive News & Ratings for Huntsman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntsman and related companies with MarketBeat.com's FREE daily email newsletter.