Private Management Group Inc. Acquires New Holdings in Huntsman Corporation $HUN

Key Points

• Private Management Group initiated a Huntsman position in the third quarter, acquiring 3.33 million shares valued at about $27.9 million, or roughly 1.9% of the company.
• Other investors also added to or opened positions, and institutional investors collectively own 84.81% of Huntsman’s shares.
• Huntsman reported quarterly revenue of $1.72 billion, above estimates, but earnings per share of $0.04 fell short of forecasts. Analysts’ consensus rating is “Hold,” with an average price target of $11.62.

Private Management Group Inc. bought a new stake in Huntsman Corporation (NYSE:HUN - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,325,609 shares of the basic materials company's stock, valued at approximately $27,935,000. Private Management Group Inc. owned about 1.90% of Huntsman as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in HUN. Inscription Capital LLC acquired a new stake in shares of Huntsman in the 3rd quarter valued at $177,000. Bfsg LLC acquired a new position in Huntsman during the third quarter worth $215,000. Chicago Partners Investment Group LLC raised its holdings in Huntsman by 457.8% during the third quarter. Chicago Partners Investment Group LLC now owns 198,356 shares of the basic materials company's stock valued at $1,746,000 after buying an additional 162,798 shares in the last quarter. Childress Capital Advisors LLC bought a new position in Huntsman during the third quarter valued at about $85,000. Finally, Pinnacle Wealth Planning Services Inc. raised its holdings in Huntsman by 153.3% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 16,283 shares of the basic materials company's stock valued at $137,000 after buying an additional 9,854 shares in the last quarter. 84.81% of the stock is owned by institutional investors.

Huntsman Stock Up 0.8%

Huntsman stock opened at $9.53 on Tuesday. Huntsman Corporation has a 52 week low of $7.99 and a 52 week high of $16.08. The company has a current ratio of 1.35, a quick ratio of 0.78 and a debt-to-equity ratio of 0.60. The business's 50-day simple moving average is $9.00 and its 200-day simple moving average is $11.62.

Huntsman (NYSE:HUN - Get Free Report) last announced its earnings results on Monday, November 2nd. The basic materials company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.61 billion. Huntsman had a negative net margin of 2.81% and a negative return on equity of 3.11%. Huntsman's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.03) EPS. As a group, analysts forecast that Huntsman Corporation will post -0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Jefferies Financial Group set a $12.00 price target on Huntsman in a research note on Tuesday, November 3rd. UBS Group raised their price objective on Huntsman from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Wednesday, November 4th. KeyCorp boosted their target price on Huntsman from $12.00 to $13.00 and gave the stock an "overweight" rating in a report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $11.00 target price on shares of Huntsman in a research report on Thursday, August 20th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Huntsman in a report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $11.62.

Huntsman Company Profile

Huntsman Corporation is a global chemicals manufacturer that produces differentiated and specialty chemical products for industrial and consumer markets. Its products include polyurethane chemicals, epoxy and other advanced materials, and performance chemicals used in applications such as insulation, coatings, adhesives, construction, transportation, textiles, and electronics.

Founded by Jon Huntsman Sr. in 1970, the company began as a plastics and packaging business before expanding into chemicals.

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