Huntsman Corporation $HUN Stock: Pzena Investment Management LLC Reduces Holdings

Pzena Investment Management LLC lowered its stake in shares of Huntsman Corporation (NYSE:HUN) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,040,624 shares of the basic materials company’s stock after selling 121,048 shares during the quarter. Pzena Investment Management LLC’s holdings in Huntsman were worth $42,341,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Childress Capital Advisors LLC acquired a new position in Huntsman during the 3rd quarter worth $85,000. Pinnacle Wealth Planning Services Inc. increased its holdings in Huntsman by 153.3% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 16,283 shares of the basic materials company’s stock worth $137,000 after purchasing an additional 9,854 shares during the period. Inspire Investing LLC increased its holdings in Huntsman by 3,346.8% during the 3rd quarter. Inspire Investing LLC now owns 78,828 shares of the basic materials company’s stock worth $662,000 after purchasing an additional 76,541 shares during the period. Yousif Capital Management LLC raised its position in Huntsman by 18.2% in the 3rd quarter. Yousif Capital Management LLC now owns 14,729 shares of the basic materials company’s stock valued at $124,000 after purchasing an additional 2,270 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC acquired a new stake in Huntsman in the 3rd quarter valued at about $104,000. Hedge funds and other institutional investors own 84.81% of the company’s stock.

Huntsman Stock Up 3.8%

Shares of NYSE HUN opened at $9.92 on Thursday. The business has a 50-day moving average of $9.00 and a two-hundred day moving average of $11.65. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -9.92 and a beta of 0.73. Huntsman Corporation has a 1 year low of $7.30 and a 1 year high of $16.08. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.33 and a quick ratio of 0.78.

Huntsman (NYSE:HUN) last released its quarterly earnings data on Monday, November 2nd. The basic materials company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Huntsman had a negative net margin of 2.81% and a negative return on equity of 3.11%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) EPS. On average, analysts forecast that Huntsman Corporation will post -0.26 earnings per share for the current fiscal year.

Key Headlines Impacting Huntsman

Here are the key news stories impacting Huntsman this week:

• Positive Sentiment: Huntsman reported third-quarter revenue of $1.72 billion, up 17.6% year over year and above analyst expectations. The company also swung to adjusted earnings per share of $0.04 from a loss a year earlier. Huntsman Q3 Swings to Adjusted Earnings, Revenue Rises
• Positive Sentiment: Barclays raised its price target to $11 from $10 and kept an equal-weight rating. That target implies more upside than the other revised targets cited in the news. Barclays recommendations
• Neutral Sentiment: UBS, Citigroup and RBC each lifted their targets from $9 to $10, while maintaining neutral or sector-perform ratings. At the cited share price, those targets suggest limited near-term upside and indicate analysts remain cautious. RBC Raises Price Target on Huntsman
• Neutral Sentiment: The earnings call was characterized as cautiously optimistic, but with ongoing headwinds; the available summary did not identify a specific near-term catalyst. Huntsman Earnings Call Signals Improvement Amid Headwinds
• Negative Sentiment: Adjusted EPS of $0.04 fell short of the $0.07 consensus estimate, tempering the positive revenue growth and swing to earnings. Huntsman reports Q3 adjusted EPS below consensus

Analysts Set New Price Targets

HUN has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $11.00 price objective on shares of Huntsman in a research note on Thursday, August 20th. Wells Fargo & Company cut their target price on shares of Huntsman from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Huntsman in a report on Friday, October 30th. Jefferies Financial Group set a $12.00 price target on shares of Huntsman in a research note on Tuesday. Finally, UBS Group boosted their price target on shares of Huntsman from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.69.

About Huntsman

Huntsman Corporation (NYSE:HUN) is a global manufacturer of differentiated and commodity chemical products. Founded in 1970, the company develops and produces materials used by manufacturers in a broad range of industries, including construction, automotive, aerospace, electronics, energy, coatings, adhesives and consumer products.

Huntsman’s principal businesses include polyurethane products, performance products and advanced materials. Its portfolio includes polyurethane systems and intermediates, epoxy and other specialty resins, curing agents, amines, maleic anhydride and other chemicals used in insulation, composites, coatings, adhesives and industrial applications.

The company serves customers internationally through manufacturing facilities, research and development operations, and sales offices in North America, Europe, Asia-Pacific and other regions.