Victory Capital Management Inc. Reduces Position in Huntsman Co. (NYSE:HUN)

Victory Capital Management Inc. lowered its position in Huntsman Co. (NYSE:HUN) by 11.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,087,533 shares of the basic materials company’s stock after selling 270,857 shares during the quarter. Victory Capital Management Inc. owned approximately 1.21% of Huntsman worth $50,518,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Matrix Trust Co purchased a new stake in Huntsman in the 3rd quarter valued at $25,000. nVerses Capital LLC raised its holdings in shares of Huntsman by 1,250.0% in the second quarter. nVerses Capital LLC now owns 2,700 shares of the basic materials company’s stock valued at $61,000 after buying an additional 2,500 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Huntsman during the second quarter worth about $65,000. Capital Performance Advisors LLP purchased a new position in shares of Huntsman during the third quarter worth about $78,000. Finally, Quarry LP increased its position in Huntsman by 64.8% in the 2nd quarter. Quarry LP now owns 3,664 shares of the basic materials company’s stock valued at $83,000 after acquiring an additional 1,441 shares during the period. 84.81% of the stock is owned by institutional investors and hedge funds.

Huntsman Stock Performance

Shares of HUN opened at $19.28 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.47 and a debt-to-equity ratio of 0.45. Huntsman Co. has a 52-week low of $19.14 and a 52-week high of $27.01. The company has a 50-day simple moving average of $22.50 and a 200-day simple moving average of $22.88. The company has a market capitalization of $3.34 billion, a PE ratio of -27.94 and a beta of 1.02.

Huntsman (NYSE:HUN) last issued its earnings results on Monday, November 4th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Huntsman had a negative net margin of 1.99% and a negative return on equity of 0.03%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $0.15 earnings per share. Equities research analysts predict that Huntsman Co. will post 0.11 earnings per share for the current fiscal year.

Huntsman Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 5.19%. Huntsman’s dividend payout ratio is presently -144.93%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HUN shares. Wells Fargo & Company lowered their target price on Huntsman from $26.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. UBS Group dropped their price objective on shares of Huntsman from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Royal Bank of Canada raised their target price on shares of Huntsman from $21.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Huntsman from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Huntsman presently has an average rating of “Hold” and a consensus price target of $25.75.

Insiders Place Their Bets

In related news, Director Mary C. Beckerle sold 20,201 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $21.42, for a total value of $432,705.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. 5.60% of the stock is owned by company insiders.

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.