Concentric Capital Strategies LP Trims Stock Position in Huntsman Corporation $HUN

Key Points

• Concentric Capital Strategies LP reduced its stake in Huntsman Corporation by 40.1%, selling 110,285 shares and ending the quarter with 164,534 shares valued at approximately $2.6 million.
• Huntsman reported a quarterly loss of ($0.20) EPS, missing analysts' expectations and reflecting a 7.4% revenue decline year-over-year.
• The company announced a quarterly dividend of $0.25 per share, representing a 9.2% yield, with shareholders of record on September 15 entitled to the payment.

Concentric Capital Strategies LP trimmed its position in Huntsman Corporation (NYSE:HUN - Free Report) by 40.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 164,534 shares of the basic materials company's stock after selling 110,285 shares during the quarter. Concentric Capital Strategies LP owned approximately 0.09% of Huntsman worth $2,598,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Two Sigma Investments LP raised its holdings in shares of Huntsman by 28.6% in the 4th quarter. Two Sigma Investments LP now owns 1,074,347 shares of the basic materials company's stock valued at $19,370,000 after purchasing an additional 239,193 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Huntsman by 898.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 167,206 shares of the basic materials company's stock worth $2,640,000 after acquiring an additional 150,461 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Huntsman by 12.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 132,516 shares of the basic materials company's stock worth $2,096,000 after acquiring an additional 14,812 shares in the last quarter. Twelve Points Wealth Management LLC raised its stake in Huntsman by 51.0% during the 1st quarter. Twelve Points Wealth Management LLC now owns 115,641 shares of the basic materials company's stock worth $1,826,000 after acquiring an additional 39,035 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Huntsman by 72.0% during the 1st quarter. Teacher Retirement System of Texas now owns 63,424 shares of the basic materials company's stock worth $1,001,000 after acquiring an additional 26,551 shares in the last quarter. 84.81% of the stock is currently owned by institutional investors and hedge funds.

Huntsman Price Performance

Shares of NYSE HUN traded down $0.03 during midday trading on Tuesday, hitting $11.17. The company had a trading volume of 1,419,660 shares, compared to its average volume of 3,914,744. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.54. Huntsman Corporation has a twelve month low of $8.91 and a twelve month high of $25.12. The business has a 50-day simple moving average of $10.69 and a two-hundred day simple moving average of $12.51. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -5.72 and a beta of 0.65.

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

Huntsman Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.25 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 8.9%. Huntsman's dividend payout ratio (DPR) is -51.28%.

Analyst Upgrades and Downgrades

HUN has been the topic of several research analyst reports. The Goldman Sachs Group cut their price target on shares of Huntsman from $12.00 to $10.00 and set a "sell" rating on the stock in a research note on Thursday, August 7th. UBS Group lowered their price objective on shares of Huntsman from $13.00 to $11.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Wells Fargo & Company lowered their price objective on shares of Huntsman from $13.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 5th. Wall Street Zen downgraded shares of Huntsman from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Mizuho lowered their price objective 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. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $12.06.

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.