Franklin Resources Inc. Sells 71,859 Shares of Huntsman Co. (NYSE:HUN)

Franklin Resources Inc. lessened its stake in Huntsman Co. (NYSE:HUN) by 6.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,126,676 shares of the basic materials company’s stock after selling 71,859 shares during the quarter. Franklin Resources Inc. owned about 0.65% of Huntsman worth $26,657,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Matrix Trust Co bought a new stake in shares of Huntsman in the 3rd quarter valued at about $25,000. True Wealth Design LLC acquired a new position in Huntsman during the third quarter valued at approximately $62,000. nVerses Capital LLC increased its stake in Huntsman by 1,250.0% in the second quarter. nVerses Capital LLC now owns 2,700 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 2,500 shares in the last quarter. Innealta Capital LLC acquired a new stake in Huntsman in the second quarter worth $65,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Huntsman during the third quarter worth $78,000. Institutional investors and hedge funds own 84.81% of the company’s stock.

Huntsman Stock Down 1.4 %

HUN stock opened at $18.30 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.47 and a quick ratio of 0.83. The stock has a market capitalization of $3.17 billion, a P/E ratio of -26.52 and a beta of 0.97. Huntsman Co. has a fifty-two week low of $18.24 and a fifty-two week high of $27.01. The business has a 50-day moving average of $20.95 and a 200-day moving average of $22.01.

Huntsman (NYSE:HUN) last issued 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. The company had revenue of $1.54 billion during 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%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $0.15 EPS. On average, sell-side analysts anticipate that Huntsman Co. will post 0.09 earnings per share for the current fiscal year.

Huntsman Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 5.46%. Huntsman’s payout ratio is currently -144.93%.

Analysts Set New Price Targets

HUN has been the subject of a number of recent analyst reports. 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 dropped their price target on Huntsman from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada lifted their price objective on Huntsman from $21.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. Finally, Citigroup lowered their target price on Huntsman from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.71.

Insiders Place Their Bets

In related news, Director Mary C. Beckerle sold 20,201 shares of Huntsman stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $21.42, for a total value of $432,705.42. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 5.60% of the company’s stock.

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.