Petrus Trust Company LTA Sells 26,361 Shares of Huntsman Corporation $HUN

Key Points

• Petrus Trust Company LTA has significantly reduced its holdings in Huntsman Corporation by 61% during the first quarter, now owning 16,873 shares valued at $266,000.
• The company recently reported an earnings miss, with an EPS of ($0.20), falling short of the consensus estimate of ($0.15) and showing a 7.4% decline in revenue year-over-year.
• Huntsman announced a quarterly dividend of $0.25, resulting in an annualized yield of 8.9%, while the stock's price target has been reduced by multiple analysts following recent performance.

Petrus Trust Company LTA lessened its position in Huntsman Corporation (NYSE:HUN - Free Report) by 61.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,873 shares of the basic materials company's stock after selling 26,361 shares during the quarter. Petrus Trust Company LTA's holdings in Huntsman were worth $266,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. NewEdge Advisors LLC increased its position in shares of Huntsman by 20.8% during the 1st quarter. NewEdge Advisors LLC now owns 56,481 shares of the basic materials company's stock worth $892,000 after purchasing an additional 9,720 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Huntsman by 345.7% during the 1st quarter. AQR Capital Management LLC now owns 9,926,971 shares of the basic materials company's stock worth $151,982,000 after purchasing an additional 7,699,922 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Huntsman by 61.9% during the 1st quarter. Advisors Asset Management Inc. now owns 378,868 shares of the basic materials company's stock worth $5,982,000 after purchasing an additional 144,806 shares during the last quarter. Amundi acquired a new position in shares of Huntsman during the 1st quarter worth approximately $3,413,000. Finally, Perbak Capital Partners LLP acquired a new position in shares of Huntsman during the 1st quarter worth approximately $254,000. Institutional investors and hedge funds own 84.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HUN. Wells Fargo & Company lowered their price target on Huntsman from $13.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 5th. The Goldman Sachs Group lowered their price target on Huntsman from $12.00 to $10.00 and set a "sell" rating on the stock in a research report on Thursday, August 7th. Royal Bank Of Canada decreased their target price on Huntsman from $12.00 to $10.00 and set a "sector perform" rating on the stock in a report on Monday, August 4th. Wall Street Zen lowered Huntsman from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Finally, Citigroup decreased 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. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $12.05.

Huntsman Stock Performance

NYSE HUN traded down $0.24 on Friday, reaching $10.91. The stock had a trading volume of 4,830,768 shares, compared to its average volume of 3,724,700. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.43 and a quick ratio of 0.85. The firm has a fifty day moving average of $10.68 and a two-hundred day moving average of $12.33. Huntsman Corporation has a 1-year low of $8.91 and a 1-year high of $25.12. The company has a market cap of $1.90 billion, a P/E ratio of -5.59 and a beta of 0.65.

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 analysts' consensus estimates of ($0.15) by ($0.05). The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.51 billion. Huntsman had a negative net margin of 5.75% and a negative return on equity of 2.48%. The business's revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. On average, equities research analysts anticipate that Huntsman Corporation will post 0.32 EPS for the current year.

Huntsman Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date is Monday, September 15th. Huntsman's dividend payout ratio is presently -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.