Victory Capital Management Inc. Reduces Position in Huntsman Co. (NYSE:HUN)

Victory Capital Management Inc. reduced its stake in Huntsman Co. (NYSE:HUN) by 11.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,087,533 shares of the basic materials company’s stock after selling 270,857 shares during the quarter. Victory Capital Management Inc.’s holdings in Huntsman were worth $50,518,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in HUN. Matrix Trust Co acquired a new position in Huntsman in the 3rd quarter valued at about $25,000. nVerses Capital LLC grew its holdings in shares of Huntsman by 1,250.0% during the second quarter. nVerses Capital LLC now owns 2,700 shares of the basic materials company’s stock worth $61,000 after buying an additional 2,500 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Huntsman in the second quarter valued at approximately $65,000. Capital Performance Advisors LLP purchased a new position in shares of Huntsman during the third quarter valued at approximately $78,000. Finally, Quarry LP boosted its position in Huntsman by 64.8% during the second quarter. Quarry LP now owns 3,664 shares of the basic materials company’s stock worth $83,000 after acquiring an additional 1,441 shares during the last quarter. Institutional investors and hedge funds own 84.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank of Canada boosted their price target on Huntsman from $21.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. UBS Group lowered their price objective on Huntsman from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company reduced their target price on Huntsman from $26.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Finally, 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 report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $25.75.

Insiders Place Their Bets

In related news, Director Mary C. Beckerle sold 20,201 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $21.42, for a total transaction of $432,705.42. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.60% of the stock is currently owned by insiders.

Huntsman Stock Performance

Huntsman stock opened at $19.28 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.47 and a quick ratio of 0.83. Huntsman Co. has a 12 month low of $19.14 and a 12 month high of $27.01. The company has a market cap of $3.34 billion, a price-to-earnings ratio of -27.94 and a beta of 1.02. The stock’s 50-day moving average is $22.50 and its 200-day moving average is $22.88.

Huntsman (NYSE:HUN) last announced its quarterly earnings results 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 analysts’ expectations of $1.55 billion. Huntsman had a negative net margin of 1.99% and a negative return on equity of 0.03%. Huntsman’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 earnings per share. Equities analysts anticipate that Huntsman Co. will post 0.11 earnings per share for the current 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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend is Friday, December 13th. Huntsman’s dividend payout ratio (DPR) is presently -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.