State Street Corp Acquires 70,382 Shares of Huntsman Co. (NYSE:HUN)

State Street Corp raised its stake in shares of Huntsman Co. (NYSE:HUN) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,301,850 shares of the basic materials company’s stock after purchasing an additional 70,382 shares during the period. State Street Corp’s holdings in Huntsman were worth $79,905,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Systematic Financial Management LP lifted its position in shares of Huntsman by 12.8% in the 3rd quarter. Systematic Financial Management LP now owns 589,206 shares of the basic materials company’s stock worth $14,259,000 after purchasing an additional 66,688 shares during the period. Quantinno Capital Management LP lifted its holdings in Huntsman by 89.4% in the third quarter. Quantinno Capital Management LP now owns 19,037 shares of the basic materials company’s stock valued at $461,000 after buying an additional 8,988 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Huntsman by 1.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 3,055,267 shares of the basic materials company’s stock valued at $73,937,000 after acquiring an additional 31,883 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Huntsman by 295.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 722,990 shares of the basic materials company’s stock worth $17,496,000 after acquiring an additional 539,990 shares during the period. Finally, Holocene Advisors LP raised its position in shares of Huntsman by 68.7% in the 3rd quarter. Holocene Advisors LP now owns 250,821 shares of the basic materials company’s stock worth $6,070,000 after acquiring an additional 102,115 shares in the last quarter. 84.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Huntsman

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 transaction of $432,705.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

HUN has been the subject of several recent analyst reports. UBS Group decreased their target price on Huntsman from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Wells Fargo & Company lowered their price objective on shares of Huntsman from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their target price on shares of Huntsman from $21.00 to $24.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.43.

Huntsman Price Performance

Shares of NYSE:HUN opened at $18.57 on Wednesday. The stock’s 50 day moving average is $21.04 and its 200-day moving average is $22.05. Huntsman Co. has a twelve month low of $18.41 and a twelve month high of $27.01. The company has a quick ratio of 0.83, a current ratio of 1.47 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -26.90 and a beta of 0.97.

Huntsman (NYSE:HUN) last released its quarterly earnings data on Monday, November 4th. The basic materials company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.55 billion. Huntsman had a negative net margin of 1.99% and a negative return on equity of 0.03%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.15 earnings per share. Sell-side analysts forecast that Huntsman Co. will post 0.09 EPS for the current fiscal year.

Huntsman Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date of this dividend is Friday, December 13th. Huntsman’s dividend payout ratio is currently -144.93%.

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.