Quarry LP Makes New Investment in Huntsman Co. (NYSE:HUN)

Quarry LP bought a new stake in shares of Huntsman Co. (NYSE:HUN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,064 shares of the basic materials company’s stock, valued at approximately $52,000.

Several other large investors also recently modified their holdings of HUN. Quadrant Capital Group LLC lifted its position in Huntsman by 93.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,081 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 521 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Huntsman by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 75,009 shares of the basic materials company’s stock worth $1,885,000 after acquiring an additional 730 shares during the period. Harvest Investment Advisors LLC boosted its position in shares of Huntsman by 2.0% during the 4th quarter. Harvest Investment Advisors LLC now owns 44,360 shares of the basic materials company’s stock worth $1,115,000 after acquiring an additional 879 shares in the last quarter. Verdence Capital Advisors LLC raised its position in Huntsman by 9.8% during the fourth quarter. Verdence Capital Advisors LLC now owns 12,768 shares of the basic materials company’s stock valued at $321,000 after purchasing an additional 1,140 shares in the last quarter. Finally, GAMMA Investing LLC bought a new stake in Huntsman during the fourth quarter worth $36,000. 84.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on HUN. The Goldman Sachs Group lifted their price target on Huntsman from $25.00 to $28.00 and gave the company a “sell” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. raised Huntsman from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $22.00 to $27.00 in a research note on Friday, June 7th. Royal Bank of Canada raised their price target on shares of Huntsman from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 7th. Finally, Wells Fargo & Company raised shares of Huntsman from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $25.00 to $32.00 in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Huntsman has an average rating of “Hold” and an average target price of $27.18.

Huntsman Stock Performance

Shares of HUN opened at $23.26 on Monday. The firm’s fifty day simple moving average is $24.46 and its two-hundred day simple moving average is $24.79. Huntsman Co. has a 12 month low of $22.14 and a 12 month high of $29.90. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $4.02 billion, a P/E ratio of -44.73 and a beta of 1.07.

Huntsman (NYSE:HUN) last issued its quarterly earnings results on Thursday, May 2nd. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. Huntsman had a positive return on equity of 0.67% and a negative net margin of 1.49%. The company’s revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 earnings per share. As a group, analysts predict that Huntsman Co. will post 0.41 EPS for the current year.

Huntsman Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Friday, June 14th. Huntsman’s payout ratio is -192.31%.

Huntsman Profile

Huntsman Corporation manufactures and sells diversified organic chemical products worldwide. The company operates in three segments: Polyurethanes, Performance Products, and Advanced Materials. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyether and polyester polyols, and thermoplastic polyurethane; and aniline, benzene, nitrobenzene and other co-products.