Huntsman Co. (NYSE:HUN) Position Cut by Townsquare Capital LLC

Townsquare Capital LLC trimmed its stake in Huntsman Co. (NYSE:HUN) by 12.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 24,800 shares of the basic materials company’s stock after selling 3,530 shares during the quarter. Townsquare Capital LLC’s holdings in Huntsman were worth $446,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of HUN. Nuveen Asset Management LLC lifted its stake in Huntsman by 244.0% in the first quarter. Nuveen Asset Management LLC now owns 2,107,631 shares of the basic materials company’s stock valued at $30,414,000 after buying an additional 1,494,941 shares during the last quarter. Bank of Montreal Can lifted its stake in Huntsman by 324.4% in the second quarter. Bank of Montreal Can now owns 1,813,080 shares of the basic materials company’s stock valued at $30,659,000 after buying an additional 1,385,844 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Huntsman by 45.3% in the first quarter. Wells Fargo & Company MN now owns 3,977,531 shares of the basic materials company’s stock valued at $57,396,000 after buying an additional 1,240,198 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Huntsman by 27.1% in the second quarter. Macquarie Group Ltd. now owns 4,721,207 shares of the basic materials company’s stock valued at $84,841,000 after buying an additional 1,006,371 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its stake in Huntsman by 146.0% in the second quarter. Ensign Peak Advisors Inc now owns 1,243,456 shares of the basic materials company’s stock valued at $22,345,000 after buying an additional 738,038 shares during the last quarter. Institutional investors own 75.43% of the company’s stock.

A number of brokerages recently weighed in on HUN. Barclays lifted their price objective on shares of Huntsman from $18.00 to $16.00 in a research note on Monday, August 31st. KeyCorp lifted their price objective on shares of Huntsman from $23.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, September 9th. Truist lifted their price objective on shares of Huntsman from $25.00 to $26.00 in a research note on Wednesday, September 9th. Scotiabank lifted their price objective on shares of Huntsman from $21.00 to $22.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Huntsman from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $20.71.

HUN traded down $0.01 during trading on Tuesday, reaching $22.96. The company had a trading volume of 1,785 shares, compared to its average volume of 2,159,327. The firm’s 50-day simple moving average is $21.04 and its 200 day simple moving average is $17.94. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 5.28, a PEG ratio of 7.74 and a beta of 2.08. Huntsman Co. has a 12-month low of $12.23 and a 12-month high of $24.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.09 and a current ratio of 1.53.

Huntsman (NYSE:HUN) last issued its quarterly earnings results on Tuesday, July 28th. The basic materials company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.06. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Huntsman had a return on equity of 6.41% and a net margin of 15.78%. Huntsman’s revenue was down 43.2% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. On average, sell-side analysts expect that Huntsman Co. will post 0.59 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.1625 dividend. The ex-dividend date is Monday, September 14th. This represents a $0.65 dividend on an annualized basis and a yield of 2.83%. Huntsman’s dividend payout ratio is currently 42.48%.

Huntsman Profile

Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates in four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.

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Institutional Ownership by Quarter for Huntsman (NYSE:HUN)

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