Wellington Management Group LLP Decreases Stock Position in Huntsman Corporation $HUN

Key Points

• Wellington Management Group LLP significantly reduced its stake in Huntsman Corporation by 84.7% in the first quarter, leaving them with approximately 505,855 shares valued at $7.99 million.
• Huntsman experienced a decrease in quarterly earnings, reporting a loss of ($0.20) per share, which was below analyst expectations, along with a revenue decline of 7.4% compared to the previous year.
• The company recently announced a quarterly dividend of $0.25 per share, which translates to an annual yield of 9.2%, with the ex-dividend date set for September 15.

Wellington Management Group LLP cut its stake in shares of Huntsman Corporation (NYSE:HUN - Free Report) by 84.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 505,855 shares of the basic materials company's stock after selling 2,801,727 shares during the period. Wellington Management Group LLP owned approximately 0.29% of Huntsman worth $7,987,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its holdings in shares of Huntsman by 177.9% in the first quarter. Hexagon Capital Partners LLC now owns 2,179 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 1,395 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Huntsman by 1,717.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,254 shares of the basic materials company's stock worth $51,000 after acquiring an additional 3,075 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in Huntsman in the first quarter worth approximately $53,000. Strengthening Families & Communities LLC lifted its stake in Huntsman by 1,966.7% in the first quarter. Strengthening Families & Communities LLC now owns 3,906 shares of the basic materials company's stock worth $62,000 after acquiring an additional 3,717 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Huntsman by 2,388.4% in the first quarter. Versant Capital Management Inc now owns 4,081 shares of the basic materials company's stock worth $64,000 after acquiring an additional 3,917 shares during the last quarter. Institutional investors and hedge funds own 84.81% of the company's stock.

Huntsman Stock Performance

HUN traded down $0.27 during trading on Tuesday, hitting $10.90. The stock had a trading volume of 1,386,571 shares, compared to its average volume of 3,921,664. 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 firm has a market capitalization of $1.89 billion, a P/E ratio of -5.59 and a beta of 0.64. The company's 50-day moving average price is $10.63 and its 200 day moving average price is $12.74. Huntsman Corporation has a twelve month low of $8.91 and a twelve month high of $25.12.

Huntsman (NYSE:HUN - Get Free Report) last announced its quarterly earnings data 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). Huntsman had a negative net margin of 5.75% and a negative return on equity of 2.48%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the firm posted $0.14 earnings per share. The business's quarterly revenue was down 7.4% compared to the same quarter last year. On average, equities research analysts forecast that Huntsman Corporation will post 0.32 EPS for the current fiscal year.

Huntsman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 dividend yield of 9.2%. Huntsman's payout ratio is currently -51.28%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HUN. Morgan Stanley decreased their price target on shares of Huntsman from $20.00 to $13.50 and set an "equal weight" rating for the company in a research note on Monday, May 5th. UBS Group reduced their price objective on shares of Huntsman from $13.00 to $11.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Mizuho reduced their price objective on shares of Huntsman from $14.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Royal Bank Of Canada reduced their price objective on shares of Huntsman from $12.00 to $10.00 and set a "sector perform" rating for the company in a research report on Monday, August 4th. Finally, The Goldman Sachs Group reduced their price objective on shares of Huntsman from $12.00 to $10.00 and set a "sell" rating for the company in a research report on Thursday, August 7th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $12.06.

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.