Huntsman Corporation (NYSE:HUN) Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. significantly reduced its stake in Huntsman Corporation by 77.0% during the 1st quarter, leaving it with 22,426 shares valued at $354,000.
• Huntsman has faced a series of downgrades from several analysts, with the Goldman Sachs Group cutting their price target from $13.50 to $12.00 and issuing a "sell" rating.
• The company recently announced a quarterly dividend of $0.25 per share, equating to a 10.9% dividend yield, despite a negative payout ratio.

Victory Capital Management Inc. reduced its stake in Huntsman Corporation (NYSE:HUN - Free Report) by 77.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,426 shares of the basic materials company's stock after selling 75,273 shares during the quarter. Victory Capital Management Inc.'s holdings in Huntsman were worth $354,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CWM LLC lifted its position in shares of Huntsman by 1,508.3% in the first quarter. CWM LLC now owns 249,450 shares of the basic materials company's stock valued at $3,939,000 after acquiring an additional 233,940 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Huntsman by 2.2% in the first quarter. New York State Common Retirement Fund now owns 381,180 shares of the basic materials company's stock valued at $6,019,000 after acquiring an additional 8,381 shares in the last quarter. Ballentine Partners LLC purchased a new stake in shares of Huntsman in the first quarter valued at $212,000. Cerity Partners LLC lifted its position in shares of Huntsman by 1,569.5% in the first quarter. Cerity Partners LLC now owns 238,335 shares of the basic materials company's stock valued at $3,763,000 after acquiring an additional 224,059 shares in the last quarter. Finally, Poinciana Advisors Group LLC purchased a new stake in shares of Huntsman in the first quarter valued at $210,000. 84.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on HUN shares. The Goldman Sachs Group reduced their price objective on Huntsman from $13.50 to $12.00 and set a "sell" rating on the stock in a research report on Tuesday, July 8th. Wall Street Zen downgraded Huntsman from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Wells Fargo & Company downgraded Huntsman from an "overweight" rating to a "reduce" rating in a research report on Monday, May 5th. Morgan Stanley reduced their target price on Huntsman from $20.00 to $13.50 and set an "equal weight" rating on the stock in a research report on Monday, May 5th. Finally, UBS Group reduced their target price on Huntsman from $13.00 to $11.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Huntsman currently has an average rating of "Hold" and a consensus target price of $13.17.

Huntsman Stock Performance

Huntsman stock opened at $9.21 on Friday. The stock's 50-day moving average is $11.05 and its 200-day moving average is $13.78. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -4.72 and a beta of 0.70. 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 Corporation has a 12 month low of $9.02 and a 12 month high of $25.12.

Huntsman (NYSE:HUN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.05). The firm had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.51 billion. Huntsman had a negative return on equity of 2.45% and a negative net margin of 5.75%. The business's revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 earnings per share. Equities analysts anticipate that Huntsman Corporation will post 0.32 earnings per share for the current year.

Huntsman Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 10.9%. The ex-dividend date is Monday, September 15th. Huntsman's dividend payout ratio (DPR) is presently -51.28%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.