Inceptionr LLC Invests $290,000 in Huntsman Corporation $HUN

Inceptionr LLC acquired a new stake in Huntsman Corporation (NYSE:HUN) during the second quarter, Holdings Channel reports. The fund acquired 27,842 shares of the basic materials company’s stock, valued at approximately $290,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Boston Partners raised its position in Huntsman by 657.9% in the second quarter. Boston Partners now owns 982,508 shares of the basic materials company’s stock valued at $10,102,000 after purchasing an additional 852,877 shares during the period. Advisors Asset Management Inc. increased its position in shares of Huntsman by 47.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 558,344 shares of the basic materials company’s stock worth $5,818,000 after purchasing an additional 179,476 shares during the last quarter. XTX Topco Ltd raised its holdings in Huntsman by 648.4% in the 2nd quarter. XTX Topco Ltd now owns 138,675 shares of the basic materials company’s stock valued at $1,445,000 after buying an additional 120,146 shares during the period. Prudential Financial Inc. lifted its position in Huntsman by 34.5% in the second quarter. Prudential Financial Inc. now owns 14,250 shares of the basic materials company’s stock valued at $148,000 after buying an additional 3,655 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Huntsman by 229.4% during the second quarter. American Century Companies Inc. now owns 753,222 shares of the basic materials company’s stock worth $7,849,000 after buying an additional 524,558 shares during the period. Institutional investors and hedge funds own 84.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HUN shares. JPMorgan Chase & Co. reduced their price target on shares of Huntsman from $20.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. UBS Group cut their target price on Huntsman from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Citigroup lowered their price target on Huntsman from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Thursday, October 2nd. Bank of America reiterated an “underperform” rating and issued a $8.00 price objective (down previously from $9.00) on shares of Huntsman in a report on Tuesday, October 14th. Finally, Mizuho lowered their target price on Huntsman from $9.00 to $8.00 and set an “underperform” rating for the company in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $10.00.

Huntsman Trading Up 3.4%

NYSE:HUN opened at $10.42 on Friday. The firm has a market cap of $1.81 billion, a PE ratio of -5.34 and a beta of 0.68. The stock has a fifty day moving average price of $8.72 and a 200 day moving average price of $10.14. Huntsman Corporation has a 12-month low of $7.30 and a 12-month high of $20.94. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.54.

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

Huntsman Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $0.0875 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.35 dividend on an annualized basis and a yield of 3.4%. 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.