Connor Clark & Lunn Investment Management Ltd. Has $4.31 Million Holdings in Huntsman Corporation $HUN

Connor Clark & Lunn Investment Management Ltd. increased its position in Huntsman Corporation (NYSE:HUN) by 22.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 413,967 shares of the basic materials company’s stock after buying an additional 74,883 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Huntsman were worth $4,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of HUN. AQR Capital Management LLC grew its position in shares of Huntsman by 345.7% in the first quarter. AQR Capital Management LLC now owns 9,926,971 shares of the basic materials company’s stock valued at $151,982,000 after purchasing an additional 7,699,922 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Huntsman by 7.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,105,566 shares of the basic materials company’s stock valued at $96,407,000 after purchasing an additional 419,009 shares during the period. Invesco Ltd. grew its holdings in Huntsman by 1.3% in the 1st quarter. Invesco Ltd. now owns 6,064,044 shares of the basic materials company’s stock valued at $95,751,000 after buying an additional 75,097 shares during the last quarter. Pzena Investment Management LLC increased its position in Huntsman by 9.3% in the 2nd quarter. Pzena Investment Management LLC now owns 5,310,768 shares of the basic materials company’s stock worth $55,338,000 after buying an additional 451,761 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Huntsman by 97.0% during the first quarter. Goldman Sachs Group Inc. now owns 2,137,285 shares of the basic materials company’s stock worth $33,748,000 after buying an additional 1,052,127 shares during the last quarter. 84.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on HUN shares. Wells Fargo & Company lowered their price objective on shares of Huntsman from $13.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 5th. The Goldman Sachs Group reduced their price target on shares of Huntsman from $10.00 to $9.00 and set a “sell” rating for the company in a report on Friday, October 17th. Jefferies Financial Group dropped their price objective on shares of Huntsman from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Mizuho cut their price objective on shares of Huntsman from $9.00 to $8.00 and set an “underperform” rating for the company in a research report on Friday, October 3rd. Finally, Royal Bank Of Canada decreased their target price on Huntsman from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $10.00.

Huntsman Stock Performance

NYSE:HUN opened at $8.77 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $9.10 and a 200 day moving average price of $10.42. The firm has a market capitalization of $1.52 billion, a PE ratio of -4.50 and a beta of 0.68. Huntsman Corporation has a 12-month low of $7.30 and a 12-month high of $20.94.

Huntsman (NYSE:HUN) last issued its earnings results on Thursday, November 6th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Huntsman had a negative return on equity of 2.48% and a negative net margin of 5.75%.Huntsman’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. Research analysts anticipate that Huntsman Corporation will post 0.32 earnings per share for the current fiscal year.

Huntsman Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $0.0875 dividend. This represents a $0.35 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Monday, December 15th. Huntsman’s payout ratio is currently -18.42%.

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.