Maverick Capital Ltd. Buys Shares of 65,283 Huntsman Corporation $HUN

Maverick Capital Ltd. bought a new position in Huntsman Corporation (NYSE:HUN) in the first quarter, Holdings Channel.com reports. The institutional investor bought 65,283 shares of the basic materials company’s stock, valued at approximately $869,000.

A number of other institutional investors have also modified their holdings of the company. Lombard Odier Asset Management USA Corp grew its position in shares of Huntsman by 6.2% in the 1st quarter. Lombard Odier Asset Management USA Corp now owns 16,868 shares of the basic materials company’s stock worth $225,000 after buying an additional 982 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Huntsman by 8.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 13,863 shares of the basic materials company’s stock valued at $139,000 after acquiring an additional 1,099 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Huntsman by 2.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 44,574 shares of the basic materials company’s stock valued at $446,000 after acquiring an additional 1,225 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Huntsman by 2.9% in the fourth quarter. Guggenheim Capital LLC now owns 43,022 shares of the basic materials company’s stock valued at $430,000 after acquiring an additional 1,226 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC grew its holdings in Huntsman by 8.9% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 16,335 shares of the basic materials company’s stock worth $163,000 after purchasing an additional 1,332 shares during the last quarter. 84.81% of the stock is currently owned by institutional investors.

Huntsman Trading Down 2.5%

NYSE HUN opened at $11.45 on Wednesday. The company has a fifty day simple moving average of $12.84 and a two-hundred day simple moving average of $12.81. The stock has a market cap of $2.01 billion, a P/E ratio of -5.96 and a beta of 0.69. Huntsman Corporation has a 12-month low of $7.30 and a 12-month high of $16.08. The company has a current ratio of 1.27, a quick ratio of 0.75 and a debt-to-equity ratio of 0.58.

Huntsman (NYSE:HUN) last announced its quarterly earnings data on Thursday, April 30th. The basic materials company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. Huntsman had a negative net margin of 5.83% and a negative return on equity of 4.60%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the company earned ($0.11) earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, analysts forecast that Huntsman Corporation will post -0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HUN. Royal Bank Of Canada increased their price objective on Huntsman from $14.00 to $15.00 and gave the company a “sector perform” rating in a report on Monday, May 4th. Mizuho dropped their target price on Huntsman from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. Morgan Stanley upped their target price on Huntsman from $11.00 to $15.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Bank of America raised their price target on Huntsman from $10.00 to $11.00 and gave the stock an “underperform” rating in a report on Tuesday, June 30th. Finally, Weiss Ratings upgraded Huntsman from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.67.

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.