Huntsman Corporation $HUN Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC cut its position in Huntsman Corporation (NYSE:HUN) by 22.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,323 shares of the basic materials company’s stock after selling 30,029 shares during the quarter. Pallas Capital Advisors LLC owned 0.06% of Huntsman worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Byrne Asset Management LLC purchased a new position in Huntsman during the 2nd quarter valued at about $44,000. Parallel Advisors LLC lifted its position in shares of Huntsman by 70.2% during the second quarter. Parallel Advisors LLC now owns 7,975 shares of the basic materials company’s stock worth $83,000 after purchasing an additional 3,288 shares in the last quarter. Investors Research Corp boosted its stake in shares of Huntsman by 140.8% in the second quarter. Investors Research Corp now owns 66,604 shares of the basic materials company’s stock valued at $694,000 after purchasing an additional 38,950 shares during the period. Impala Asset Management LLC acquired a new position in shares of Huntsman in the first quarter valued at approximately $5,450,000. Finally, Acadian Asset Management LLC increased its stake in Huntsman by 87.6% during the 1st quarter. Acadian Asset Management LLC now owns 176,402 shares of the basic materials company’s stock worth $2,783,000 after buying an additional 82,382 shares during the period. Institutional investors and hedge funds own 84.81% of the company’s stock.

Analyst Ratings Changes

HUN has been the subject of several recent research reports. Mizuho reissued an “underperform” rating and issued a $9.00 price target (down previously from $11.00) on shares of Huntsman in a research report on Friday, September 12th. The Goldman Sachs Group decreased their target price on Huntsman from $12.00 to $10.00 and set a “sell” rating for the company in a report on Thursday, August 7th. Jefferies Financial Group lowered their target price on Huntsman from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. Wells Fargo & Company reduced their price target on Huntsman from $13.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 5th. Finally, Citigroup lowered their price objective on Huntsman from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.05.

Huntsman Trading Down 0.1%

Huntsman stock opened at $10.30 on Friday. The stock has a 50-day moving average price of $10.61 and a 200 day moving average price of $12.22. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.79 billion, a PE ratio of -5.28 and a beta of 0.65. Huntsman Corporation has a 52 week low of $8.91 and a 52 week high of $25.12.

Huntsman (NYSE:HUN) last posted 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 analyst estimates of $1.51 billion. Huntsman had a negative net margin of 5.75% and a negative return on equity of 2.48%. The company’s revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 EPS. Equities research analysts predict that Huntsman Corporation will post 0.32 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, September 30th. Shareholders of record on Monday, September 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.7%. The ex-dividend date of this dividend is Monday, September 15th. Huntsman’s dividend payout ratio is presently -51.28%.

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.