1832 Asset Management L.P. Acquires 2,531,800 Shares of Huntsman Co. (NYSE:HUN)

1832 Asset Management L.P. lifted its holdings in shares of Huntsman Co. (NYSE:HUN) by 753.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,867,920 shares of the basic materials company’s stock after acquiring an additional 2,531,800 shares during the quarter. 1832 Asset Management L.P.’s holdings in Huntsman were worth $74,652,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in shares of Huntsman by 93.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,081 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 521 shares during the period. GAMMA Investing LLC bought a new position in shares of Huntsman during the 4th quarter worth approximately $36,000. Fidelis Capital Partners LLC bought a new position in shares of Huntsman during the 1st quarter worth approximately $45,000. Montag A & Associates Inc. bought a new stake in Huntsman in the 4th quarter valued at $45,000. Finally, Quarry LP bought a new stake in Huntsman in the 4th quarter valued at $52,000. 84.81% of the stock is currently owned by institutional investors.

Huntsman Price Performance

NYSE HUN traded up $0.34 during midday trading on Friday, hitting $23.41. The company had a trading volume of 1,359,124 shares, compared to its average volume of 2,017,114. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 0.49. Huntsman Co. has a twelve month low of $21.41 and a twelve month high of $29.90. The company has a market capitalization of $4.05 billion, a PE ratio of -45.02 and a beta of 1.01. The firm has a 50-day moving average price of $23.48 and a 200-day moving average price of $24.32.

Huntsman (NYSE:HUN) last posted its quarterly earnings results on Thursday, May 2nd. The basic materials company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). Huntsman had a positive return on equity of 0.67% and a negative net margin of 1.49%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the firm earned $0.20 EPS. Huntsman’s revenue was down 8.5% on a year-over-year basis. As a group, analysts anticipate that Huntsman Co. will post 0.33 earnings per share for the current fiscal year.

Huntsman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.27%. Huntsman’s dividend payout ratio (DPR) is currently -192.31%.

Wall Street Analyst Weigh In

HUN has been the subject of several recent research reports. Royal Bank of Canada boosted their price target on Huntsman from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 7th. Wells Fargo & Company reduced their price target on Huntsman from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. UBS Group reduced their price target on Huntsman from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Citigroup reduced their price target on Huntsman from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. raised Huntsman from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $22.00 to $27.00 in a report on Friday, June 7th. One 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $26.50.

Huntsman Company 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.