Frank Rimerman Advisors LLC Makes New Investment in Huntsman Corporation $HUN

Frank Rimerman Advisors LLC bought a new stake in shares of Huntsman Corporation (NYSE:HUN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 84,824 shares of the basic materials company’s stock, valued at approximately $762,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. SJS Investment Consulting Inc. purchased a new position in Huntsman during the third quarter valued at $33,000. GAMMA Investing LLC raised its position in shares of Huntsman by 104.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,935 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 2,015 shares during the last quarter. IFP Advisors Inc boosted its stake in Huntsman by 197.6% in the 2nd quarter. IFP Advisors Inc now owns 3,661 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 2,431 shares in the last quarter. Bayforest Capital Ltd grew its position in Huntsman by 986.0% during the 3rd quarter. Bayforest Capital Ltd now owns 6,505 shares of the basic materials company’s stock valued at $58,000 after purchasing an additional 5,906 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its stake in Huntsman by 1,101.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 8,265 shares of the basic materials company’s stock valued at $74,000 after purchasing an additional 7,577 shares in the last quarter. Hedge funds and other institutional investors own 84.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Citigroup increased their price target on shares of Huntsman from $10.50 to $12.00 and gave the company a “neutral” rating in a report on Thursday, January 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Huntsman in a research note on Thursday, January 22nd. Zacks Research upgraded Huntsman from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. KeyCorp reaffirmed a “sector weight” rating on shares of Huntsman in a research report on Monday, December 22nd. Finally, Alembic Global Advisors set a $11.00 price objective on Huntsman in a report on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $11.00.

Huntsman Trading Down 3.3%

Shares of NYSE:HUN opened at $10.82 on Friday. The stock’s 50-day simple moving average is $10.66 and its two-hundred day simple moving average is $9.98. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -5.69 and a beta of 0.68. Huntsman Corporation has a 52-week low of $7.30 and a 52-week high of $18.53. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.84 and a current ratio of 1.36.

Huntsman (NYSE:HUN) last released its quarterly earnings results on Thursday, November 6th. The basic materials company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.10. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.45 billion. Huntsman had a negative net margin of 5.69% and a negative return on equity of 3.26%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 EPS. Analysts expect that Huntsman Corporation will post 0.32 EPS for the current year.

Huntsman Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Monday, December 15th. Huntsman’s dividend payout ratio (DPR) is currently -18.42%.

About Huntsman

Huntsman Corporation is a global manufacturer and marketer of specialty chemicals with headquarters in The Woodlands, Texas. Founded in 1970 by entrepreneur Jon Huntsman Sr., the company has grown through strategic acquisitions and organic expansion to establish a broad portfolio of products serving diverse end markets. Huntsman maintains a presence in more than 30 countries, operating manufacturing facilities across North America, Europe, Asia-Pacific, Latin America and the Middle East.

The company organizes its operations into several core business segments, including Polyurethanes, Performance Products, Advanced Materials, and Textile Effects.