Legato Capital Management LLC Makes New Investment in Huntsman Corporation (NYSE:HUN)

Key Points

• Legato Capital Management LLC has acquired a new stake in Huntsman Corporation valued at approximately $373,000 by purchasing 23,600 shares in the first quarter.
• Several institutional investors have increased their stakes significantly, with Wealth Enhancement Advisory Services LLC raising its stake by 898.5% in the first quarter, showcasing strong interest in the company.
• Analysts have recently lowered their price targets for Huntsman, with ratings shifting to predominantly "sell" and "reduce," indicating a cautious outlook on the stock's performance.

Legato Capital Management LLC bought a new position in shares of Huntsman Corporation (NYSE:HUN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 23,600 shares of the basic materials company's stock, valued at approximately $373,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC boosted its stake in Huntsman by 177.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,179 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 1,395 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Huntsman by 74.9% during the 4th 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 period. Aster Capital Management DIFC Ltd purchased a new position in shares of Huntsman during the 4th quarter worth about $60,000. Quarry LP purchased a new stake in shares of Huntsman in the 4th quarter worth approximately $65,000. Finally, Versant Capital Management Inc increased its stake in shares of 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 worth $64,000 after acquiring an additional 3,917 shares during the period. Institutional investors and hedge funds own 84.81% of the company's stock.

Huntsman Stock Down 2.6%

Shares of HUN traded down $0.29 on Tuesday, hitting $10.58. The company's stock had a trading volume of 1,054,943 shares, compared to its average volume of 3,724,584. Huntsman Corporation has a fifty-two week low of $10.13 and a fifty-two week high of $25.12. The firm's fifty day moving average price is $11.20 and its 200-day moving average price is $13.96. The company has a quick ratio of 0.82, a current ratio of 1.48 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -11.64 and a beta of 0.70.

Huntsman (NYSE:HUN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported ($0.11) EPS for the quarter, meeting analysts' consensus estimates of ($0.11). The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.51 billion. Huntsman had a negative return on equity of 0.65% and a negative net margin of 2.63%. The business's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) EPS. On average, equities research analysts expect that Huntsman Corporation will post 0.32 EPS for the current year.

Huntsman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.46%. The ex-dividend date was Friday, June 13th. Huntsman's payout ratio is currently -109.89%.

Analyst Ratings Changes

Several research analysts have commented on HUN shares. Wall Street Zen cut shares of Huntsman from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Citigroup reiterated a "neutral" rating and set a $11.00 price target (down from $12.00) on shares of Huntsman in a report on Thursday, July 10th. Bank of America lowered Huntsman from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $22.00 to $15.00 in a research note on Tuesday, April 15th. Wells Fargo & Company cut Huntsman from an "overweight" rating to a "reduce" rating in a research report on Monday, May 5th. Finally, Morgan Stanley cut 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. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $13.17.

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.