Allianz Asset Management GmbH Increases Position in Huntsman Corporation (NYSE:HUN)

Key Points

• Allianz Asset Management GmbH increased its stake in Huntsman Corporation by 48.4% in Q1 2024, now owning 560,286 shares valued at approximately $8.85 million.
• Huntsman stock has received recent downgrades from analysts, with Citigroup lowering its price target from $12.00 to $11.00 and multiple firms issuing sell ratings.
• Huntsman announced a quarterly dividend of $0.25 per share, translating to an annual yield of 8.94%, despite a negative payout ratio of -109.89%.

Allianz Asset Management GmbH lifted its holdings in Huntsman Corporation (NYSE:HUN - Free Report) by 48.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 560,286 shares of the basic materials company's stock after purchasing an additional 182,803 shares during the period. Allianz Asset Management GmbH owned about 0.32% of Huntsman worth $8,847,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hexagon Capital Partners LLC increased its stake in shares of Huntsman by 177.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,179 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 1,395 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Huntsman by 74.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 956 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Huntsman in the 4th quarter valued at about $60,000. Versant Capital Management Inc increased its stake in shares of Huntsman by 2,388.4% in the 1st quarter. Versant Capital Management Inc now owns 4,081 shares of the basic materials company's stock valued at $64,000 after purchasing an additional 3,917 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Huntsman in the 4th quarter valued at about $65,000. Hedge funds and other institutional investors own 84.81% of the company's stock.

Wall Street Analysts Forecast Growth

HUN has been the subject of several recent analyst reports. Citigroup restated a "neutral" rating and issued a $11.00 price target (down previously from $12.00) on shares of Huntsman in a research note on Thursday, July 10th. Wells Fargo & Company lowered Huntsman from an "overweight" rating to a "reduce" rating in a research note on Monday, May 5th. Royal Bank Of Canada cut their price objective on Huntsman from $15.00 to $12.00 and set a "sector perform" rating for the company in a research note on Monday, May 5th. Mizuho cut their price objective on Huntsman from $14.00 to $11.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Finally, The Goldman Sachs Group cut their price objective on Huntsman from $13.50 to $12.00 and set a "sell" rating for the company in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $13.17.

Huntsman Trading Up 2.8%

Shares of Huntsman stock opened at $11.19 on Friday. The stock has a market cap of $1.94 billion, a P/E ratio of -12.29 and a beta of 0.70. The stock's 50 day simple moving average is $11.24 and its 200-day simple moving average is $14.01. Huntsman Corporation has a 1-year low of $10.13 and a 1-year high of $25.12. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.48 and a quick ratio of 0.82.

Huntsman (NYSE:HUN - Get Free Report) last issued its earnings results on Thursday, May 1st. The basic materials company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.51 billion. Huntsman had a negative return on equity of 0.65% and a negative net margin of 2.63%. The business's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) EPS. Analysts predict that Huntsman Corporation will post 0.32 EPS for the current fiscal year.

Huntsman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.94%. The ex-dividend date was Friday, June 13th. Huntsman's dividend payout ratio is currently -109.89%.

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.

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