Private Management Group Inc. Makes New $27.93 Million Investment in Huntsman Corporation $HUN

Private Management Group Inc. purchased a new stake in Huntsman Corporation (NYSE:HUN) in the third quarter, HoldingsChannel reports. The fund purchased 3,325,609 shares of the basic materials company’s stock, valued at approximately $27,935,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of HUN. Inscription Capital LLC bought a new position in shares of Huntsman during the 3rd quarter worth about $177,000. Bfsg LLC acquired a new position in shares of Huntsman during the third quarter valued at about $215,000. Chicago Partners Investment Group LLC lifted its stake in shares of Huntsman by 457.8% in the third quarter. Chicago Partners Investment Group LLC now owns 198,356 shares of the basic materials company’s stock valued at $1,746,000 after buying an additional 162,798 shares during the period. Childress Capital Advisors LLC bought a new stake in shares of Huntsman in the third quarter valued at about $85,000. Finally, Pinnacle Wealth Planning Services Inc. grew its position in Huntsman by 153.3% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 16,283 shares of the basic materials company’s stock worth $137,000 after buying an additional 9,854 shares in the last quarter. 84.81% of the stock is currently owned by institutional investors and hedge funds.

Huntsman Trading Up 0.8%

NYSE:HUN opened at $9.53 on Tuesday. Huntsman Corporation has a 12-month low of $7.99 and a 12-month high of $16.08. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.35 and a quick ratio of 0.78. The firm has a 50-day moving average price of $9.00 and a 200 day moving average price of $11.62.

Huntsman (NYSE:HUN) last announced its quarterly earnings results on Monday, November 2nd. The basic materials company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.61 billion. Huntsman had a negative return on equity of 3.11% and a negative net margin of 2.81%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) EPS. Equities research analysts predict that Huntsman Corporation will post -0.29 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. The Goldman Sachs Group set a $12.00 price target on Huntsman in a research note on Thursday, July 16th. Barclays upped their price target on Huntsman from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, November 4th. Zacks Research downgraded Huntsman from a “hold” rating to a “strong sell” rating in a research report on Monday, October 12th. Citigroup lifted their price objective on Huntsman from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday, November 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Huntsman in a research report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.62.

Huntsman Profile

Huntsman Corporation is a global chemicals manufacturer that produces differentiated and specialty chemical products for industrial and consumer markets. Its products include polyurethane chemicals, epoxy and other advanced materials, and performance chemicals used in applications such as insulation, coatings, adhesives, construction, transportation, textiles, and electronics.

Founded by Jon Huntsman Sr. in 1970, the company began as a plastics and packaging business before expanding into chemicals.