California Public Employees Retirement System trimmed its stake in shares of Huntsman Co. (NYSE:HUN – Get Rating) by 6.0% during the second quarter, HoldingsChannel reports. The fund owned 407,882 shares of the basic materials company’s stock after selling 26,183 shares during the quarter. California Public Employees Retirement System’s holdings in Huntsman were worth $11,563,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in HUN. Brown Brothers Harriman & Co. bought a new position in Huntsman during the 1st quarter valued at $30,000. EverSource Wealth Advisors LLC bought a new position in Huntsman during the 2nd quarter valued at $47,000. National Bank of Canada FI raised its holdings in shares of Huntsman by 486.7% during the first quarter. National Bank of Canada FI now owns 1,760 shares of the basic materials company’s stock worth $65,000 after purchasing an additional 1,460 shares during the period. Capital Advisors Ltd. LLC raised its holdings in shares of Huntsman by 60.0% during the first quarter. Capital Advisors Ltd. LLC now owns 1,758 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 659 shares during the period. Finally, Larson Financial Group LLC acquired a new stake in shares of Huntsman during the second quarter worth $67,000. 87.62% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have weighed in on HUN. Citigroup increased their target price on shares of Huntsman from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Sunday, November 6th. The Goldman Sachs Group began coverage on shares of Huntsman in a report on Thursday, October 13th. They set a “sell” rating and a $26.00 target price on the stock. Royal Bank of Canada cut shares of Huntsman from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $43.00 to $30.00 in a report on Monday, September 19th. Scotiabank cut shares of Huntsman from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $36.00 to $30.00 in a report on Monday, November 7th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Huntsman from $29.00 to $31.00 in a report on Tuesday, November 8th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.20.
Huntsman Stock Up 0.9 %
Huntsman (NYSE:HUN – Get Rating) last posted its quarterly earnings data on Friday, November 4th. The basic materials company reported $0.71 earnings per share for the quarter, meeting the consensus estimate of $0.71. Huntsman had a net margin of 12.66% and a return on equity of 19.94%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the firm posted $1.08 EPS. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. On average, analysts expect that Huntsman Co. will post 3.49 EPS for the current fiscal year.
Huntsman Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a $0.2125 dividend. This represents a $0.85 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Wednesday, December 14th. Huntsman’s payout ratio is 15.83%.
Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates through four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.
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