Millennium Management LLC Has $40.90 Million Stock Position in Huntsman Co. (NYSE:HUN)

Millennium Management LLC lifted its stake in Huntsman Co. (NYSE:HUN) by 18.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,268,158 shares of the basic materials company’s stock after acquiring an additional 354,691 shares during the quarter. Millennium Management LLC owned approximately 1.31% of Huntsman worth $40,895,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Huntsman in the fourth quarter valued at about $40,000. Quadrant Capital Group LLC increased its position in Huntsman by 74.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,232 shares of the basic materials company’s stock worth $40,000 after buying an additional 956 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Huntsman during the fourth quarter worth approximately $60,000. Quarry LP acquired a new position in Huntsman during the fourth quarter worth approximately $65,000. Finally, Signaturefd LLC increased its position in Huntsman by 174.5% during the fourth quarter. Signaturefd LLC now owns 4,386 shares of the basic materials company’s stock worth $79,000 after buying an additional 2,788 shares during the last quarter. Institutional investors and hedge funds own 84.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. StockNews.com raised Huntsman from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Morgan Stanley lowered their price target on Huntsman from $20.00 to $13.50 and set an “equal weight” rating on the stock in a research report on Monday, May 5th. Bank of America downgraded Huntsman from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $22.00 to $15.00 in a research report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price target on shares of Huntsman from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Finally, Wells Fargo & Company downgraded Huntsman from an “overweight” rating to a “reduce” rating in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Huntsman currently has a consensus rating of “Hold” and a consensus target price of $15.00.

Huntsman Price Performance

Huntsman stock opened at $12.67 on Friday. Huntsman Co. has a 12 month low of $11.15 and a 12 month high of $25.78. The stock’s 50 day moving average is $14.03 and its 200-day moving average is $16.78. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -11.52 and a beta of 0.82.

Huntsman (NYSE:HUN) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.51 billion. Huntsman had a negative return on equity of 0.39% and a negative net margin of 3.13%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.06) earnings per share. Equities research analysts expect that Huntsman Co. will post 0.32 EPS for the current year.

Huntsman Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.89%. The ex-dividend date is Friday, June 13th. Huntsman’s dividend payout ratio is currently -109.89%.

Huntsman Company 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.