Verity Asset Management Inc. Sells 4,631 Shares of Huntsman Co. (NYSE:HUN)

Verity Asset Management Inc. trimmed its position in Huntsman Co. (NYSE:HUN) by 34.7% in the second quarter, Holdings Channel reports. The fund owned 8,734 shares of the basic materials company’s stock after selling 4,631 shares during the quarter. Verity Asset Management Inc.’s holdings in Huntsman were worth $255,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Icon Wealth Partners LLC bought a new position in Huntsman during the 1st quarter worth $28,000. Meridian Wealth Management LLC bought a new position in Huntsman during the 1st quarter worth $37,000. FinTrust Capital Advisors LLC raised its position in Huntsman by 130.2% during the 1st quarter. FinTrust Capital Advisors LLC now owns 2,021 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 1,143 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Huntsman by 67.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,305 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 931 shares during the last quarter. Finally, Pearl River Capital LLC bought a new position in Huntsman during the 1st quarter worth $54,000. Institutional investors own 75.32% of the company’s stock.

Shares of HUN traded down $0.62 during trading hours on Friday, hitting $18.74. The stock had a trading volume of 2,505,631 shares, compared to its average volume of 2,864,346. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.83 and a quick ratio of 1.16. The firm has a 50 day simple moving average of $20.00 and a 200-day simple moving average of $21.37. The firm has a market capitalization of $4.44 billion, a P/E ratio of 5.61, a price-to-earnings-growth ratio of 0.99 and a beta of 2.29. Huntsman Co. has a 1-year low of $17.33 and a 1-year high of $33.04.

Huntsman (NYSE:HUN) last issued its earnings results on Tuesday, July 30th. The basic materials company reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.28 billion. Huntsman had a negative net margin of 1.37% and a positive return on equity of 18.68%. The business’s quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. Equities analysts predict that Huntsman Co. will post 2.31 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $0.1625 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.65 annualized dividend and a dividend yield of 3.47%. Huntsman’s dividend payout ratio is presently 19.46%.

Several research analysts recently issued reports on HUN shares. Goldman Sachs Group raised Huntsman from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Thursday, May 9th. Citigroup set a $21.00 price objective on Huntsman and gave the stock a “hold” rating in a research report on Monday, July 15th. ValuEngine raised Huntsman from a “strong sell” rating to a “sell” rating in a research report on Friday, July 19th. UBS Group set a $26.00 price objective on Huntsman and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, KeyCorp lowered their price objective on Huntsman from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $27.36.

Huntsman Company Profile

Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates in 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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Institutional Ownership by Quarter for Huntsman (NYSE:HUN)

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