Rhumbline Advisers, a prominent investment management firm, recently disclosed that it has decreased its ownership stake in Huntsman Co. (NYSE:HUN) by 5.6% during the first quarter, according to the company’s filing with the Securities and Exchange Commission. The firm now holds 213,085 shares of the basic materials company’s stock, having sold 12,710 shares over the quarter. At the end of the reporting period, Rhumbline Advisers owned approximately 0.12% of Huntsman, which translates to a value of $5,830,000.
Huntsman, a leading player in the basic materials industry, announced its earnings results on Tuesday, August 1st. For the quarter, the company reported an earnings per share (EPS) of $0.22. This figure fell short of analysts’ consensus estimates by ($0.08). Despite this miss in EPS expectations, Huntsman displayed a net margin of 2.64% and achieved a return on equity of 5.75%. The company garnered revenues amounting to $1.60 billion during the quarter under review; however, this fell short compared to analyst estimates that projected revenue at $1.70 billion.
In comparison to the same period last year, Huntsman experienced a decline in quarterly revenue by 26.5%. During last year’s comparable quarter, the business posted an EPS of $1.28 – starkly contrasting with its latest figure.
Industry experts anticipate that Huntsman Co.’s earnings for the ongoing fiscal year will amount to approximately $0.82 per share.
For more detailed insights and analysis regarding Huntsman (NYSE:HUN), please refer to our comprehensive report available on our platform.
Please note that this article is based on information as of September 7th and is subject to change as new developments arise within Huntsman Co.’s operations or market conditions shift affecting the company’s stock performance.
Updated on: 03/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
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The Growing Interest and Potential of Huntsman: Analysis of Hedge Fund and Institutional Investor Activity, Financial Performance, and Analyst Assessments
In recent months, there has been some notable activity among hedge funds and institutional investors regarding their holdings of Huntsman, a prominent basic materials company. It appears that McIlrath & Eck LLC increased its stake in Huntsman by a staggering 84.3% during the first quarter, acquiring an additional 412 shares. This move boosts McIlrath & Eck LLC’s ownership to a total of 901 shares, valued at $25,000.
Similarly, Brown Brothers Harriman & Co. entered the scene by purchasing a new stake in Huntsman during the first quarter, with an estimated value of around $30,000. CoreCap Advisors LLC also acquired a fresh interest in Huntsman late last year, totaling approximately $32,000. On top of these transactions, Parkside Financial Bank & Trust significantly increased its stake in the company by 143.5%, adding another 759 shares to its portfolio. Presently owning 1,288 shares with a value of $35,000.
Furthermore,Gyon Technologies Capital Management LP joined the list of institutional investors who have invested in Huntsman. They purchased a new stake during the fourth quarter worth about $56,000.The collective ownership by hedge funds and other institutional investors currently stands at an impressive 83.44%.
Moving on to market performance, on Thursday HUN stock opened at $26.73.With regards to financial indicators,the company maintains a debt-to-equity ratio of 0.41 – signaling responsible management of debt levels.On liquidity measures,Huntsman boasts a quick ratio of 1.28 and current ratio of 2.14.This indicates that the company has favorable short-term liquidity positions.
Huntsman’s stock price has experienced fluctuations over the past year as it reached lows of $23.52 but also scaled highs at $33.46.More broadly,the firm commands a market capitalization amounting to approximately $4.76 billion.It’s important to note that Huntsman currently holds a price-to-earnings (P/E) ratio of 27.84, suggesting a multiple that investors may use to assess the stock’s valuation.In addition, the stock currently exhibits a beta of 1.16, which denotes its sensitivity to market movements relative to the broader market.
Recently,Huntsman disclosed its plans to issue a quarterly dividend pay-out.The dividend payment is scheduled for Friday, September 29th, with shareholders registered on Friday, September 15th being eligible for this distribution.The declared dividend stands at $0.2375 per share.Going by this figure,the annualized dividend payout amounts to $0.95 and yields at 3.55%. Additionally,the company currently has a dividend payout ratio (DPR) of approximately 98.96%.
Various analysts have provided their assessments on Huntsman.One example is Royal Bank of Canada which raised its target price from $26.00 to $30.00.Likewise,Citigroup also reviewed Huntsman’s target price and increased it from $29.00 to $30.00.Giving the stock an overall “neutral” rating.Other notable comments came from 58.com who reaffirmed an “initiates” rating for Huntsman.Bank of America, however,reduced their target price from $24.00 to $22.00.Finally,Deutsche Bank dropped Huntsman’s target price further from $29.00 to $27.00.Per Bloomberg reports,the average rating that emerges from these assessments suggests a “Hold” recommendation in relation to Huntsman’s stock.The average target price set by these analysts stands at approximately $28.42.
In conclusion ,the recent activities surrounding hedge funds and institutional investors’ holdings in Huntsman indicate a growing interest in the company’s potential.Huntsman’s financials paint a picture of stable debt management and favorable liquidity positions.On the stock market front, an in-depth analysis of key metrics such as P/E ratio and beta can provide investors with a better understanding of the valuation and volatility of Huntsman’s stock.Finally,analysts’ assessments have been rather mixed, indicating that further expert evaluations may be required before making investment decisions.