First Wilshire Increases Huntsman Stake by $2.87 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
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Source: Fool
- Share Acquisition: First Wilshire Securities Management disclosed a purchase of 431,403 additional shares of Huntsman during Q3, investing approximately $2.87 million, which increased its total holdings to about 1.13 million shares valued at $10.13 million, reflecting confidence in Huntsman's future potential.
- Asset Allocation Shift: Following this acquisition, Huntsman now represents 2.7% of First Wilshire's 13F assets, indicating the fund's focus on Huntsman despite its stock price plummeting 45% over the past year.
- Financial Performance: Although Huntsman reported a net loss of $25 million in Q3, it generated $200 million in operating cash flow, showcasing its cash flow resilience in a challenging market environment.
- Strategic Adjustments: Huntsman's management is focusing on financial stability by controlling capital expenditures and implementing a restructuring plan targeting over $100 million in savings, even though the 65% dividend reset may be seen as a pragmatic rather than distress signal.
HUN
$9.9+Infinity%1D
Analyst Views on HUN
Wall Street analysts forecast HUN stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for HUN is 9.68 USD with a low forecast of 7.00 USD and a high forecast of 14.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
3 Buy
6 Hold
3 Sell
Hold
Current: 9.920
Low
7.00
Averages
9.68
High
14.00
Current: 9.920
Low
7.00
Averages
9.68
High
14.00
About HUN
Huntsman Corporation is a manufacturer of diversified organic chemical products. It operates through three segments: Polyurethanes, Performance Products and Advanced Materials. The Polyurethanes product segment includes methylene diphenyl diisocyanate, polyols, and thermoplastic polyurethane products. The Performance Products segment is engaged in the manufacturing and sale of amines and maleic anhydride and serves a variety of consumer and industrial end markets. Its Advanced Materials segment includes technologically advanced epoxy, phenoxy, acrylic, polyurethane, mercaptan and acrylonitrile butadiene-based polymer products as well as carbon nanomaterials. Its products comprise different chemicals and chemical formulations, which it markets globally to a wide range of consumers that consist primarily of industrial and building product manufacturers. Its products are used in a range of applications, including adhesives, aerospace, automotive, coatings and construction, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
