Investors Research Corp Raises Stock Position in Huntsman Corporation $HUN

Key Points

• Investors Research Corp increased its stake in Huntsman Corporation by 140.8% during the 2nd quarter, acquiring an additional 38,950 shares to hold a total of 66,604 shares valued at approximately $694,000.
• Several institutional investors, including AQR Capital Management and Goldman Sachs, significantly increased their stakes in Huntsman, indicating a growing interest in the company amidst market volatility.
• Huntsman Corporation recently announced a quarterly dividend of $0.25, representing a yield of 9.2%, despite experiencing a negative net margin and lower year-over-year revenue.

Investors Research Corp raised its stake in shares of Huntsman Corporation (NYSE:HUN - Free Report) by 140.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,604 shares of the basic materials company's stock after purchasing an additional 38,950 shares during the period. Investors Research Corp's holdings in Huntsman were worth $694,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in HUN. Comerica Bank boosted its holdings in shares of 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 last quarter. Ameriprise Financial Inc. boosted its holdings in shares of 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 last quarter. Lazard Asset Management LLC bought a new position in shares of Huntsman during the 4th quarter valued at about $1,127,000. Millennium Management LLC boosted its holdings in shares of Huntsman by 18.5% during the 4th quarter. Millennium Management LLC now owns 2,268,158 shares of the basic materials company's stock valued at $40,895,000 after purchasing an additional 354,691 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in shares of Huntsman by 112.6% during the 4th quarter. Quantinno Capital Management LP now owns 40,482 shares of the basic materials company's stock valued at $730,000 after purchasing an additional 21,445 shares during the last quarter. Institutional investors own 84.81% of the company's stock.

Huntsman Trading Down 3.0%

Huntsman stock traded down $0.31 during midday trading on Friday, reaching $9.99. The stock had a trading volume of 2,409,472 shares, compared to its average volume of 3,952,002. 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 52-week low of $8.91 and a 52-week high of $25.12. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -5.12 and a beta of 0.65. The company has a fifty day moving average of $10.61 and a 200 day moving average of $12.22.

Huntsman (NYSE:HUN - Get Free Report) last posted its quarterly earnings data 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 return on equity of 2.48% and a negative net margin of 5.75%.The firm had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.51 billion. During the same period last year, the company earned $0.14 earnings per share. The business's revenue for the quarter was down 7.4% compared to the same quarter last year. On average, analysts anticipate that Huntsman Corporation will post 0.32 earnings per share for the current fiscal year.

Huntsman Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 10.0%. The ex-dividend date of this dividend is Monday, September 15th. Huntsman's dividend payout ratio is -51.28%.

Wall Street Analyst Weigh In

Several research firms have commented on HUN. Jefferies Financial Group dropped their price objective on shares of Huntsman from $15.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Royal Bank Of Canada decreased their target price on shares of Huntsman from $12.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Monday, August 4th. The Goldman Sachs Group decreased their target price on shares of Huntsman from $12.00 to $10.00 and set a "sell" rating on the stock in a research report on Thursday, August 7th. Wells Fargo & Company decreased their target price 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. Finally, UBS Group decreased their target price 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. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $12.05.

Huntsman 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.