Vanguard Group Inc. Has $256.10 Million Stake in Huntsman Corporation $HUN

Key Points

• Vanguard Group Inc. reduced its stake in Huntsman Corporation by 1.6% during the first quarter, owning approximately 16.2 million shares worth $256.1 million.
• Huntsman Corporation reported a quarterly EPS of (0.20), missing analyst estimates, with revenue down 7.4% year-over-year.
• The company just announced a quarterly dividend of $0.25 per share, equating to a 10.0% yield based on its annualized payout.

Vanguard Group Inc. decreased its position in shares of Huntsman Corporation (NYSE:HUN - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,219,129 shares of the basic materials company's stock after selling 262,882 shares during the quarter. Vanguard Group Inc. owned approximately 9.33% of Huntsman worth $256,100,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HUN. ING Groep NV acquired a new position in Huntsman during the 1st quarter worth about $3,921,000. Earned Wealth Advisors LLC acquired a new position in Huntsman during the 1st quarter worth about $174,000. PNC Financial Services Group Inc. lifted its holdings in Huntsman by 6.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 33,841 shares of the basic materials company's stock worth $534,000 after buying an additional 2,147 shares during the period. Bayforest Capital Ltd acquired a new position in Huntsman during the 1st quarter worth about $196,000. Finally, XTX Topco Ltd acquired a new position in Huntsman during the 1st quarter worth about $293,000. Institutional investors and hedge funds own 84.81% of the company's stock.

Huntsman Stock Performance

Shares of HUN opened at $10.04 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.85 and a current ratio of 1.43. The stock has a 50 day moving average price of $10.68 and a two-hundred day moving average price of $13.16. The firm has a market capitalization of $1.74 billion, a P/E ratio of -5.15 and a beta of 0.70. Huntsman Corporation has a 52 week low of $8.91 and a 52 week high of $25.12.

Huntsman (NYSE:HUN - Get Free Report) last issued 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). The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.51 billion. Huntsman had a negative return on equity of 2.48% and a negative net margin of 5.75%. The business's revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 earnings per share. Equities analysts forecast that Huntsman Corporation will post 0.32 earnings per share for the current fiscal year.

Huntsman Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 10.0%. The ex-dividend date of this dividend is Monday, September 15th. Huntsman's payout ratio is currently -51.28%.

Wall Street Analysts Forecast Growth

HUN has been the topic of several recent research reports. Citigroup cut 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. 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 report on Monday, May 5th. JPMorgan Chase & Co. cut their target price on Huntsman from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. UBS Group dropped their price objective on Huntsman from $13.00 to $11.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Finally, Royal Bank Of Canada dropped their price objective on Huntsman from $12.00 to $10.00 and set a "sector perform" rating on the stock in a research note on Monday, August 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target 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.

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