Quest Partners LLC Grows Position in Huntsman Co. (NYSE:HUN)

Quest Partners LLC raised its holdings in shares of Huntsman Co. (NYSE:HUN) by 333.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,792 shares of the basic materials company’s stock after buying an additional 27,542 shares during the quarter. Quest Partners LLC’s holdings in Huntsman were worth $815,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of Huntsman by 7.2% in the fourth quarter. Franklin Resources Inc. now owns 1,258,188 shares of the basic materials company’s stock valued at $31,618,000 after purchasing an additional 84,462 shares during the period. Norges Bank purchased a new stake in shares of Huntsman in the fourth quarter valued at about $43,761,000. Russell Investments Group Ltd. grew its holdings in shares of Huntsman by 24.4% in the first quarter. Russell Investments Group Ltd. now owns 665,652 shares of the basic materials company’s stock valued at $17,327,000 after purchasing an additional 130,614 shares during the period. Commerce Bank grew its holdings in shares of Huntsman by 16.1% in the fourth quarter. Commerce Bank now owns 234,824 shares of the basic materials company’s stock valued at $5,901,000 after purchasing an additional 32,535 shares during the period. Finally, Diversified Trust Co purchased a new stake in shares of Huntsman in the second quarter valued at about $2,180,000. Hedge funds and other institutional investors own 84.81% of the company’s stock.

Analyst Ratings Changes

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

Huntsman Stock Down 1.1 %

Shares of HUN opened at $21.27 on Wednesday. The stock has a market capitalization of $3.68 billion, a PE ratio of -40.90 and a beta of 1.00. Huntsman Co. has a 1 year low of $19.91 and a 1 year high of $27.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.77 and a current ratio of 1.30. The company’s 50-day simple moving average is $21.99 and its 200-day simple moving average is $23.73.

Huntsman (NYSE:HUN) last issued its earnings results on Monday, August 5th. The basic materials company reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 earnings per share. Analysts forecast that Huntsman Co. will post 0.2 earnings per share for the current fiscal year.

Huntsman Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.00 annualized dividend and a yield of 4.70%. Huntsman’s dividend payout ratio is currently -192.31%.

About Huntsman

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.