1832 Asset Management L.P. Acquires 1,547,344 Shares of Huntsman Co. (NYSE:HUN)

1832 Asset Management L.P. boosted its holdings in shares of Huntsman Co. (NYSE:HUN) by 54.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,415,264 shares of the basic materials company’s stock after purchasing an additional 1,547,344 shares during the period. 1832 Asset Management L.P. owned about 2.55% of Huntsman worth $100,536,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HUN. Teacher Retirement System of Texas raised its holdings in shares of Huntsman by 36.5% during the fourth quarter. Teacher Retirement System of Texas now owns 18,408 shares of the basic materials company’s stock valued at $463,000 after acquiring an additional 4,920 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in Huntsman in the 4th quarter worth $212,000. Quadrant Capital Group LLC lifted its position in shares of Huntsman by 93.0% in the 4th 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. Norges Bank bought a new stake in shares of Huntsman during the 4th quarter valued at about $43,761,000. Finally, Wells Fargo & Company MN increased its position in shares of Huntsman by 644.0% during the fourth quarter. Wells Fargo & Company MN now owns 378,667 shares of the basic materials company’s stock valued at $9,516,000 after buying an additional 448,270 shares during the period. Institutional investors own 84.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. UBS Group reduced their target price on Huntsman from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Wells Fargo & Company decreased their price objective on Huntsman from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their target price on shares of Huntsman from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Citigroup dropped their price objective on shares of Huntsman from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Finally, Royal Bank of Canada decreased their target price on shares of Huntsman from $30.00 to $21.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $25.56.

Huntsman Stock Performance

Shares of NYSE HUN opened at $22.52 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.30 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $21.98 and its 200-day moving average price is $23.53. Huntsman Co. has a 52-week low of $19.91 and a 52-week high of $27.01. The company has a market cap of $3.90 billion, a PE ratio of -43.31 and a beta of 1.00.

Huntsman (NYSE:HUN) last posted its earnings results on Monday, August 5th. The basic materials company reported $0.14 EPS for the quarter, hitting analysts’ consensus estimates of $0.14. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.61 billion. Huntsman had a negative net margin of 1.44% and a positive return on equity of 0.26%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. As a group, analysts anticipate that Huntsman Co. will post 0.2 EPS for the current year.

Huntsman Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Friday, September 13th. Huntsman’s dividend 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.