Merrion Investment Management Co LLC Lowers Position in Huntsman Co. (NYSE:HUN)

Merrion Investment Management Co LLC cut its position in shares of Huntsman Co. (NYSE:HUN) by 8.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,076 shares of the basic materials company’s stock after selling 12,800 shares during the period. Huntsman comprises about 2.2% of Merrion Investment Management Co LLC’s investment portfolio, making the stock its 10th largest position. Merrion Investment Management Co LLC owned about 0.08% of Huntsman worth $3,293,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in shares of Huntsman by 1.5% during the second 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 period. Millennium Management LLC increased its position in shares of Huntsman by 5.2% during the second 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 period. 1832 Asset Management L.P. grew its position in Huntsman by 54.0% in the second 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 acquiring an additional 1,547,344 shares during the period. Wellington Management Group LLP grew its position in Huntsman by 75.9% in the fourth quarter. Wellington Management Group LLP now owns 3,151,535 shares of the basic materials company’s stock valued at $79,198,000 after acquiring an additional 1,359,437 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Huntsman by 9.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,408,592 shares of the basic materials company’s stock valued at $62,697,000 after acquiring an additional 203,396 shares during the period. 84.81% of the stock is currently owned by institutional investors.

Huntsman Trading Up 1.1 %

Shares of HUN stock opened at $23.76 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.77 and a current ratio of 1.30. Huntsman Co. has a 52 week low of $19.91 and a 52 week high of $27.01. The stock’s fifty day moving average is $22.11 and its 200-day moving average is $23.38.

Huntsman (NYSE:HUN) last issued its quarterly earnings results on Monday, August 5th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. Huntsman had a positive return on equity of 0.26% and a negative net margin of 1.44%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Huntsman Co. will post 0.19 EPS for the current year.

Huntsman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Friday, September 13th. Huntsman’s dividend payout ratio (DPR) is presently -200.00%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Huntsman from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada lowered their price target on Huntsman from $30.00 to $21.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company lowered their price target on Huntsman from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Citigroup lowered their price target on Huntsman from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Finally, UBS Group lowered their price target on Huntsman from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.56.

Huntsman Profile

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.