Panagora Asset Management Inc. Has $7.43 Million Holdings in Huntsman Corporation $HUN

Key Points

• Panagora Asset Management Inc. has reduced its position in Huntsman Corporation by 42.4%, selling 346,923 shares and leaving it with 470,697 shares valued at approximately $7.4 million.
• Recent analyst reports have generally lowered target prices for Huntsman, with UBS Group setting a new target of $11.00, reflecting a broader sentiment of "neutral" or "hold" ratings by multiple analysts.
• Huntsman Corporation announced a quarterly dividend of $0.25, representing an annualized dividend yield of 9.0%, which is notable given its negative dividend payout ratio.

Panagora Asset Management Inc. trimmed its position in shares of Huntsman Corporation (NYSE:HUN - Free Report) by 42.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 470,697 shares of the basic materials company's stock after selling 346,923 shares during the period. Panagora Asset Management Inc. owned 0.27% of Huntsman worth $7,432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Evergreen Capital Management LLC acquired a new position in Huntsman during the 1st quarter valued at about $293,000. Ieq Capital LLC boosted its stake in Huntsman by 732.1% during the 1st quarter. Ieq Capital LLC now owns 659,310 shares of the basic materials company's stock valued at $10,410,000 after purchasing an additional 580,080 shares during the period. Gamco Investors INC. ET AL boosted its stake in Huntsman by 1.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 117,350 shares of the basic materials company's stock valued at $1,853,000 after purchasing an additional 1,350 shares during the period. Systematic Financial Management LP boosted its stake in Huntsman by 15.0% during the 1st quarter. Systematic Financial Management LP now owns 731,805 shares of the basic materials company's stock valued at $11,555,000 after purchasing an additional 95,390 shares during the period. Finally, Jump Financial LLC boosted its stake in Huntsman by 1,677.4% during the 1st quarter. Jump Financial LLC now owns 493,793 shares of the basic materials company's stock valued at $7,797,000 after purchasing an additional 466,012 shares during the period. 84.81% of the stock is owned by institutional investors and hedge funds.

Huntsman Price Performance

NYSE:HUN traded up $0.16 during trading hours on Friday, reaching $11.19. 4,356,271 shares of the company's stock were exchanged, compared to its average volume of 3,775,779. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $1.94 billion, a P/E ratio of -5.74 and a beta of 0.65. Huntsman Corporation has a 12 month low of $8.91 and a 12 month high of $25.12. The business's 50-day simple moving average is $10.67 and its two-hundred day simple moving average is $12.62.

Huntsman (NYSE:HUN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. Huntsman had a negative return on equity of 2.48% and a negative net margin of 5.75%.The company's quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 EPS. Sell-side analysts expect that Huntsman Corporation will post 0.32 EPS for the current fiscal year.

Huntsman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.25 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.00 annualized dividend and a yield of 8.9%. Huntsman's payout ratio is -51.28%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Royal Bank Of Canada reduced their target price on shares of Huntsman from $12.00 to $10.00 and set a "sector perform" rating for the company in a research note on Monday, August 4th. The Goldman Sachs Group reduced their price target on shares of Huntsman from $12.00 to $10.00 and set a "sell" rating for the company in a research note on Thursday, August 7th. Wall Street Zen lowered shares of Huntsman from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. UBS Group reduced their price target on shares of Huntsman from $13.00 to $11.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company reduced their price target on shares of Huntsman from $13.00 to $9.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $12.06.

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.