Envestnet Asset Management Inc. Buys 4,521 Shares of Huntsman Co. (NYSE:HUN)

Envestnet Asset Management Inc. grew its stake in shares of Huntsman Co. (NYSE:HUN) by 5.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 91,304 shares of the basic materials company’s stock after acquiring an additional 4,521 shares during the period. Envestnet Asset Management Inc.’s holdings in Huntsman were worth $2,079,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in shares of Huntsman by 24.4% in the 1st quarter. Russell Investments Group Ltd. now owns 665,652 shares of the basic materials company’s stock worth $17,327,000 after buying an additional 130,614 shares during the period. Diversified Trust Co bought a new position in Huntsman in the second quarter worth about $2,180,000. Acadian Asset Management LLC lifted its position in shares of Huntsman by 1,052.7% during the first quarter. Acadian Asset Management LLC now owns 209,442 shares of the basic materials company’s stock valued at $5,449,000 after buying an additional 191,272 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Huntsman by 753.2% in the 1st quarter. 1832 Asset Management L.P. now owns 2,867,920 shares of the basic materials company’s stock valued at $74,652,000 after buying an additional 2,531,800 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Huntsman during the first quarter valued at approximately $1,428,000. Hedge funds and other institutional investors own 84.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on Huntsman from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. UBS Group dropped their price objective on shares of Huntsman from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Citigroup reduced their target price on 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. dropped their price target on Huntsman from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada reduced their price objective on 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Huntsman presently has an average rating of “Hold” and a consensus target price of $25.56.

Huntsman Stock Up 2.1 %

Shares of HUN stock opened at $24.21 on Friday. Huntsman Co. has a twelve month low of $19.91 and a twelve month high of $27.01. The stock has a market cap of $4.19 billion, a P/E ratio of -46.56 and a beta of 1.00. The stock has a 50 day moving average of $22.10 and a 200 day moving average of $23.42. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40.

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

Huntsman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Friday, September 13th. Huntsman’s payout ratio is -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.