Edgestream Partners L.P. Acquires 74,155 Shares of Huntsman Co. (NYSE:HUN)

Edgestream Partners L.P. boosted its position in shares of Huntsman Co. (NYSE:HUN) by 126.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 132,681 shares of the basic materials company’s stock after purchasing an additional 74,155 shares during the period. Edgestream Partners L.P. owned about 0.08% of Huntsman worth $3,211,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in Huntsman by 1.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,657,819 shares of the basic materials company’s stock valued at $151,599,000 after purchasing an additional 97,082 shares during the last quarter. Millennium Management LLC grew its holdings in Huntsman by 5.2% during the 2nd quarter. Millennium Management LLC now owns 4,891,928 shares of the basic materials company’s stock valued at $111,389,000 after purchasing an additional 243,821 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Huntsman by 54.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 4,415,264 shares of the basic materials company’s stock valued at $100,536,000 after purchasing an additional 1,547,344 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Huntsman by 52.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,358,390 shares of the basic materials company’s stock valued at $53,701,000 after purchasing an additional 811,099 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Huntsman by 383.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,417,641 shares of the basic materials company’s stock valued at $32,138,000 after purchasing an additional 1,124,113 shares during the last quarter. 84.81% of the stock is currently owned by institutional investors.

Huntsman Price Performance

Shares of HUN opened at $19.58 on Monday. The company has a 50 day moving average price of $21.98 and a 200-day moving average price of $22.46. Huntsman Co. has a fifty-two week low of $19.11 and a fifty-two week high of $27.01. The stock has a market capitalization of $3.39 billion, a PE ratio of -28.38 and a beta of 1.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.83 and a current ratio of 1.47.

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, hitting the consensus estimate of $0.10. Huntsman had a negative net margin of 1.99% and a negative return on equity of 0.03%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the company earned $0.15 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Equities analysts predict that Huntsman Co. will post 0.09 earnings per share for the current fiscal year.

Huntsman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 5.11%. Huntsman’s payout ratio is presently -144.93%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Huntsman from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Wells Fargo & Company lowered their price objective on shares of Huntsman from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. UBS Group lowered their price objective on shares of Huntsman from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada boosted their price objective on shares of Huntsman from $21.00 to $24.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.75.

Insider Buying and Selling

In related news, Director Mary C. Beckerle sold 20,201 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $21.42, for a total transaction of $432,705.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is currently owned by company insiders.

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.