Cubist Systematic Strategies LLC Lowers Holdings in Huntsman Co. (NYSE:HUN)

Cubist Systematic Strategies LLC cut its holdings in Huntsman Co. (NYSE:HUN) by 68.6% during the second quarter, Holdings Channel reports. The firm owned 276,796 shares of the basic materials company’s stock after selling 605,730 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Huntsman were worth $6,303,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in shares of Huntsman by 45.0% during the 2nd quarter. Marshall Wace LLP now owns 1,213,629 shares of the basic materials company’s stock worth $27,634,000 after acquiring an additional 376,423 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Huntsman by 21.4% during the 2nd quarter. Bank of Montreal Can now owns 39,333 shares of the basic materials company’s stock valued at $901,000 after acquiring an additional 6,930 shares during the last quarter. 1832 Asset Management L.P. boosted its position in shares of Huntsman by 54.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 4,415,264 shares of the basic materials company’s stock valued at $100,536,000 after acquiring an additional 1,547,344 shares during the last quarter. Sei Investments Co. boosted its position in shares of Huntsman by 25.3% during the 2nd quarter. Sei Investments Co. now owns 416,909 shares of the basic materials company’s stock valued at $9,493,000 after acquiring an additional 84,273 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Huntsman by 203.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 462,100 shares of the basic materials company’s stock valued at $10,522,000 after acquiring an additional 309,700 shares during the last quarter. 84.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank of Canada lowered their target price on Huntsman from $30.00 to $21.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company lowered their target price on Huntsman from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. UBS Group lowered their target price on Huntsman from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lowered their price target on Huntsman from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Citigroup lowered their price target on Huntsman from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Huntsman has a consensus rating of “Hold” and a consensus price target of $25.56.

Huntsman Stock Performance

HUN stock opened at $24.78 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.30 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $22.00 and its two-hundred day simple moving average is $23.49. Huntsman Co. has a twelve month low of $19.91 and a twelve month high of $27.01. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of -47.65 and a beta of 1.00.

Huntsman (NYSE:HUN) last released its earnings results on Monday, August 5th. The basic materials company reported $0.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.14. Huntsman had a positive return on equity of 0.26% and a negative net margin of 1.44%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm posted $0.22 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. Analysts predict that Huntsman Co. will post 0.2 earnings per share for the current year.

Huntsman Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $0.25 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 4.04%. Huntsman’s payout ratio is -192.31%.

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.