Dark Forest Capital Management LP Has $5.57 Million Stake in Huntsman Corporation $HUN

Key Points

• Dark Forest Capital Management LP increased its stake in Huntsman Corporation by 860.0%, owning 352,907 shares valued at approximately $5.57 million as of the first quarter.
• Huntsman Corporation reported a quarterly loss with earnings per share at ($0.20), missing estimates, and a revenue decline of 7.4% year-over-year.
• The company declared a quarterly dividend of $0.25 per share, representing a 9.0% yield, with payment scheduled for September 30th.

Dark Forest Capital Management LP grew its position in Huntsman Corporation (NYSE:HUN - Free Report) by 860.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 352,907 shares of the basic materials company's stock after purchasing an additional 316,147 shares during the period. Dark Forest Capital Management LP owned about 0.20% of Huntsman worth $5,572,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Hexagon Capital Partners LLC increased its holdings in Huntsman by 177.9% in the first quarter. Hexagon Capital Partners LLC now owns 2,179 shares of the basic materials company's stock worth $34,000 after buying an additional 1,395 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Huntsman by 1,717.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,254 shares of the basic materials company's stock worth $51,000 after purchasing an additional 3,075 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Huntsman during the 1st quarter worth $53,000. Strengthening Families & Communities LLC increased its stake in shares of Huntsman by 1,966.7% during the 1st quarter. Strengthening Families & Communities LLC now owns 3,906 shares of the basic materials company's stock worth $62,000 after purchasing an additional 3,717 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in Huntsman by 2,388.4% during the first quarter. Versant Capital Management Inc now owns 4,081 shares of the basic materials company's stock worth $64,000 after buying an additional 3,917 shares during the last quarter. 84.81% of the stock is owned by institutional investors and hedge funds.

Huntsman Stock Performance

HUN stock traded up $0.16 during trading on Friday, reaching $11.19. 4,356,271 shares of the stock were exchanged, compared to its average volume of 3,931,839. Huntsman Corporation has a twelve month low of $8.91 and a twelve month high of $25.12. The company has a market capitalization of $1.94 billion, a P/E ratio of -5.74 and a beta of 0.65. The stock has a 50 day simple moving average of $10.66 and a 200-day simple moving average of $12.67. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.54.

Huntsman (NYSE:HUN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Huntsman had a negative return on equity of 2.48% and a negative net margin of 5.75%.The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the business posted $0.14 EPS. Huntsman's revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Huntsman Corporation will post 0.32 earnings per share for the current year.

Huntsman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.9%. The ex-dividend date is Monday, September 15th. Huntsman's payout ratio is -51.28%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Mizuho lowered their target price on shares of Huntsman from $14.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. UBS Group lowered their price objective on Huntsman from $13.00 to $11.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Wells Fargo & Company lowered their price objective on Huntsman from $13.00 to $9.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 5th. Royal Bank Of Canada lowered their price target on Huntsman from $12.00 to $10.00 and set a "sector perform" rating on the stock in a report on Monday, August 4th. Finally, Wall Street Zen downgraded Huntsman from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $12.06.

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.