Pzena Investment Management LLC Makes New $27.05 Million Investment in Huntsman Co. (NYSE:HUN)

Pzena Investment Management LLC acquired a new position in shares of Huntsman Co. (NYSE:HUN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,117,578 shares of the basic materials company’s stock, valued at approximately $27,045,000. Pzena Investment Management LLC owned about 0.65% of Huntsman as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in HUN. Butensky & Cohen Financial Security Inc. increased its position in Huntsman by 0.3% during the second quarter. Butensky & Cohen Financial Security Inc. now owns 152,577 shares of the basic materials company’s stock worth $3,474,000 after purchasing an additional 483 shares during the last quarter. Seven Eight Capital LP lifted its holdings in Huntsman by 3.3% in the second quarter. Seven Eight Capital LP now owns 24,568 shares of the basic materials company’s stock valued at $559,000 after acquiring an additional 795 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Huntsman by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 41,771 shares of the basic materials company’s stock worth $951,000 after acquiring an additional 863 shares during the period. Matrix Trust Co acquired a new stake in Huntsman during the third quarter worth $25,000. Finally, Shayne & Jacobs LLC raised its position in Huntsman by 1.2% in the third quarter. Shayne & Jacobs LLC now owns 94,316 shares of the basic materials company’s stock valued at $2,282,000 after purchasing an additional 1,140 shares during the period. 84.81% of the stock is currently owned by hedge funds and other institutional investors.

Huntsman Stock Down 0.2 %

Shares of HUN traded down $0.04 during midday trading on Wednesday, hitting $19.31. The company had a trading volume of 134,626 shares, compared to its average volume of 1,904,205. The company’s 50-day simple moving average is $22.38 and its 200-day simple moving average is $22.76. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.83 and a current ratio of 1.47. Huntsman Co. has a 1 year low of $19.14 and a 1 year high of $27.01. The firm has a market capitalization of $3.34 billion, a P/E ratio of -28.04 and a beta of 1.02.

Huntsman (NYSE:HUN) last posted its quarterly earnings results on Monday, November 4th. The basic materials company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. Huntsman had a negative net margin of 1.99% and a negative return on equity of 0.03%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the business posted $0.15 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Huntsman Co. will post 0.11 EPS for the current year.

Huntsman Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Friday, December 13th. Huntsman’s dividend payout ratio is presently -144.93%.

Wall Street Analyst Weigh In

HUN has been the topic of several recent analyst reports. Royal Bank of Canada upped their price objective on shares of Huntsman from $21.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th. JPMorgan Chase & Co. dropped their price objective on Huntsman from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. UBS Group decreased their target price on Huntsman from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company dropped their target price on Huntsman from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Huntsman currently has an average rating of “Hold” and a consensus price target of $25.75.

Insiders Place Their Bets

In other Huntsman news, Director Mary C. Beckerle sold 20,201 shares of Huntsman stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $21.42, for a total transaction of $432,705.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.10% of the stock is owned by company insiders.

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.