Seven Six Capital Management LLC Acquires Shares of 137,900 Huntsman Corporation $HUN

Key Points

• Seven Six Capital Management LLC acquired a stake in Huntsman Corporation, purchasing 137,900 shares valued at approximately $2.18 million, representing around 2.0% of its portfolio.
• Multiple institutional investors have increased their positions in Huntsman during the first quarter, with notable increases from Hexagon Capital Partners (177.9%) and Caitong International Asset Management (1,717.9%).
• Analyst ratings for Huntsman indicate a general bearish sentiment, with several firms cutting their target prices and downgrading the stock from "hold" to "sell."

Seven Six Capital Management LLC purchased a new stake in Huntsman Corporation (NYSE:HUN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 137,900 shares of the basic materials company's stock, valued at approximately $2,177,000. Huntsman comprises approximately 2.0% of Seven Six Capital Management LLC's portfolio, making the stock its 23rd largest holding. Seven Six Capital Management LLC owned about 0.08% of Huntsman as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HUN. Northern Trust Corp raised its holdings in shares of Huntsman by 14.2% in the fourth quarter. Northern Trust Corp now owns 1,009,093 shares of the basic materials company's stock valued at $18,194,000 after buying an additional 125,595 shares during the last quarter. Comerica Bank grew its position in Huntsman by 41.5% during the fourth quarter. Comerica Bank now owns 16,188 shares of the basic materials company's stock worth $292,000 after buying an additional 4,747 shares during the period. Ameriprise Financial Inc. grew its position in shares of Huntsman by 30.1% in the fourth 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. BNP Paribas Financial Markets grew its position in shares of Huntsman by 174.5% in the fourth quarter. BNP Paribas Financial Markets now owns 436,005 shares of the basic materials company's stock valued at $7,861,000 after purchasing an additional 277,158 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Huntsman during the fourth quarter valued at approximately $775,000. 84.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on HUN. The Goldman Sachs Group reduced their price objective on shares of Huntsman from $12.00 to $10.00 and set a "sell" rating on the stock in a research note on Thursday, August 7th. Jefferies Financial Group cut their target price on shares of Huntsman from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday. Citigroup dropped their price target on shares of Huntsman from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Monday, August 4th. Wall Street Zen downgraded shares of Huntsman from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Royal Bank Of Canada decreased their price objective on shares of Huntsman from $12.00 to $10.00 and set a "sector perform" rating for the company in a report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.05.

Huntsman Trading Down 1.7%

Shares of HUN stock traded down $0.20 during trading hours on Friday, reaching $10.96. 1,565,162 shares of the stock traded hands, compared to its average volume of 3,918,565. Huntsman Corporation has a 1-year low of $8.91 and a 1-year high of $25.12. The business has a fifty day moving average price of $10.68 and a 200 day moving average price of $12.44. 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 firm has a market capitalization of $1.90 billion, a PE ratio of -5.61 and a beta of 0.65.

Huntsman (NYSE:HUN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.05). Huntsman had a negative net margin of 5.75% and a negative return on equity of 2.48%. The company had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.51 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The business's revenue for the quarter was down 7.4% on a year-over-year basis. On average, equities research analysts forecast that Huntsman Corporation will post 0.32 EPS for the current year.

Huntsman Announces Dividend

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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.1%. The ex-dividend date of this dividend is Monday, September 15th. Huntsman's dividend payout ratio is currently -51.28%.

Huntsman Company 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.