Impala Asset Management LLC Takes $5.45 Million Position in Huntsman Corporation $HUN

Key Points

• Impala Asset Management LLC has taken a new position in Huntsman Corporation, acquiring 321,782 shares valued at approximately $5.45 million, making it the 9th largest position in their portfolio.
• Huntsman Corporation has faced adjustments in analysts' price targets, with several institutions lowering their forecasts, leading to a current consensus rating of "Hold" and an average price target of $12.25.
• The company recently declared a $0.25 quarterly dividend, with an annualized yield of 8.9%, and plans to pay this to stockholders of record on September 15th.

Impala Asset Management LLC acquired a new stake in shares of Huntsman Corporation (NYSE:HUN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 321,782 shares of the basic materials company's stock, valued at approximately $5,450,000. Huntsman comprises about 3.5% of Impala Asset Management LLC's portfolio, making the stock its 9th largest position. Impala Asset Management LLC owned 0.19% of Huntsman as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in HUN. Northern Trust Corp boosted its stake in Huntsman by 14.2% during the 4th quarter. Northern Trust Corp now owns 1,009,093 shares of the basic materials company's stock valued at $18,194,000 after purchasing an additional 125,595 shares during the period. Comerica Bank boosted its stake in Huntsman by 41.5% during the 4th quarter. Comerica Bank now owns 16,188 shares of the basic materials company's stock valued at $292,000 after purchasing an additional 4,747 shares during the period. Ameriprise Financial Inc. boosted its stake in Huntsman by 30.1% during the 4th quarter. Ameriprise Financial Inc. now owns 155,213 shares of the basic materials company's stock valued at $2,798,000 after purchasing an additional 35,949 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Huntsman during the 4th quarter valued at approximately $775,000. Finally, D. E. Shaw & Co. Inc. boosted its stake in Huntsman by 2.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 531,807 shares of the basic materials company's stock valued at $9,588,000 after purchasing an additional 13,365 shares during the period. Institutional investors own 84.81% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on HUN shares. Wells Fargo & Company decreased their target price on Huntsman from $13.00 to $9.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 5th. Jefferies Financial Group reduced their price objective on Huntsman from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday. Wall Street Zen downgraded Huntsman from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. UBS Group reduced their price objective on Huntsman from $13.00 to $11.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Finally, Citigroup reduced their price objective on Huntsman from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Huntsman currently has a consensus rating of "Hold" and an average price target of $12.25.

Huntsman Trading Down 0.2%

HUN stock opened at $11.21 on Wednesday. The business has a fifty day moving average price of $10.69 and a 200 day moving average price of $12.50. Huntsman Corporation has a fifty-two week low of $8.91 and a fifty-two week high of $25.12. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -5.77 and a beta of 0.65. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.43 and a quick ratio of 0.85.

Huntsman (NYSE:HUN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the business earned $0.14 earnings per share. The company's revenue for the quarter was down 7.4% on a year-over-year basis. Analysts expect that Huntsman Corporation will post 0.32 EPS for the current fiscal year.

Huntsman Dividend Announcement

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

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