ING Groep NV Invests $3.92 Million in Huntsman Corporation (NYSE:HUN)

Key Points

• ING Groep NV has taken a new position in Huntsman Corporation, purchasing 248,300 shares valued at approximately $3.92 million, which represents about 0.14% ownership of the company.
• Multiple institutional investors have increased their stakes in Huntsman, with 84.81% of the stock currently owned by institutional investors and hedge funds.
• Huntsman recently reported a quarterly earnings miss, with a loss of ($0.20) earnings per share and a revenue decline of 7.4% year-over-year, prompting several analysts to downgrade their price targets for the stock.

ING Groep NV acquired a new position in shares of Huntsman Corporation (NYSE:HUN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 248,300 shares of the basic materials company's stock, valued at approximately $3,921,000. ING Groep NV owned 0.14% of Huntsman at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC grew its holdings in Huntsman by 177.9% during the first quarter. Hexagon Capital Partners LLC now owns 2,179 shares of the basic materials company's stock worth $34,000 after acquiring an additional 1,395 shares during the period. Quadrant Capital Group LLC grew its holdings in Huntsman by 74.9% in the fourth 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 during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Huntsman in the fourth quarter valued at $60,000. Quarry LP acquired a new stake in Huntsman in the fourth quarter valued at $65,000. Finally, Versant Capital Management Inc grew its holdings in Huntsman by 2,388.4% in the first 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 during the last quarter. Institutional investors and hedge funds own 84.81% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Morgan Stanley lowered their target price on Huntsman from $20.00 to $13.50 and set an "equal weight" rating on the stock in a report on Monday, May 5th. Wall Street Zen lowered Huntsman from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Citigroup lowered their target price on Huntsman from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. Wells Fargo & Company lowered their target price on Huntsman from $13.00 to $9.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group decreased their price objective on Huntsman from $12.00 to $10.00 and set a "sell" rating on the stock in a research note on Thursday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Huntsman has an average rating of "Hold" and an average price target of $12.06.

Huntsman Price Performance

Shares of HUN traded down $0.05 during trading hours on Friday, reaching $9.45. 4,384,940 shares of the company traded hands, compared to its average volume of 5,402,444. The company has a quick ratio of 0.82, a current ratio of 1.43 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $1.64 billion, a PE ratio of -4.85 and a beta of 0.70. Huntsman Corporation has a fifty-two week low of $9.02 and a fifty-two week high of $25.12. The stock has a fifty day simple moving average of $10.86 and a 200 day simple moving average of $13.50.

Huntsman (NYSE:HUN - Get Free Report) last released its earnings results 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 business had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.51 billion. During the same quarter last year, the company posted $0.14 earnings per share. The business's quarterly revenue was down 7.4% compared to the same quarter last year. As a group, research analysts predict that Huntsman Corporation will post 0.32 EPS for the current fiscal year.

Huntsman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, September 15th. This represents a $1.00 annualized dividend and a yield of 10.6%. Huntsman's dividend payout ratio is -51.28%.

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.