Tower Research Capital LLC TRC Cuts Stock Position in Huntsman Co. (NYSE:HUN)
Tower Research Capital LLC TRC lessened its position in Huntsman Co. (NYSE:HUN) by 22.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,920 shares of the basic materials company’s stock after selling 1,743 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Huntsman were worth $121,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of HUN. Rothschild & Co. Asset Management US Inc. purchased a new stake in Huntsman during the 2nd quarter worth about $39,675,000. Deprince Race & Zollo Inc. purchased a new stake in Huntsman during the 2nd quarter worth about $18,859,000. AJO LP increased its holdings in Huntsman by 3,526.0% during the 1st quarter. AJO LP now owns 824,736 shares of the basic materials company’s stock worth $18,548,000 after purchasing an additional 801,991 shares during the period. Argent Capital Management LLC increased its holdings in Huntsman by 134.4% during the 1st quarter. Argent Capital Management LLC now owns 1,273,137 shares of the basic materials company’s stock worth $28,633,000 after purchasing an additional 730,032 shares during the period. Finally, Marshall Wace LLP increased its holdings in Huntsman by 369.6% during the 1st quarter. Marshall Wace LLP now owns 799,703 shares of the basic materials company’s stock worth $17,985,000 after purchasing an additional 629,394 shares during the period. Institutional investors own 74.58% of the company’s stock.
Several equities research analysts have weighed in on the company. Citigroup set a $21.00 price target on Huntsman and gave the stock a “hold” rating in a report on Monday, July 15th. Jefferies Financial Group cut their price target on Huntsman from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, June 17th. UBS Group set a $26.00 price target on Huntsman and gave the stock a “buy” rating in a report on Wednesday, July 31st. Nomura restated a “buy” rating and set a $26.00 price target on shares of Huntsman in a report on Sunday, August 11th. Finally, Alembic Global Advisors upgraded Huntsman from a “neutral” rating to an “overweight” rating in a report on Monday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $27.10.
Shares of HUN traded down $0.21 during mid-day trading on Thursday, reaching $22.88. The company’s stock had a trading volume of 63,931 shares, compared to its average volume of 2,310,149. Huntsman Co. has a 12-month low of $17.33 and a 12-month high of $28.32. The stock has a market cap of $5.27 billion, a PE ratio of 6.89, a price-to-earnings-growth ratio of 1.17 and a beta of 2.30. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.83 and a quick ratio of 1.16. The company’s 50 day moving average is $20.68 and its 200 day moving average is $21.00.
Huntsman (NYSE:HUN) last released its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). Huntsman had a negative net margin of 1.37% and a positive return on equity of 18.68%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The company’s revenue was down 8.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Huntsman Co. will post 2.3 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $0.1625 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 2.84%. Huntsman’s payout ratio is currently 19.46%.
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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