Zacks Investment Research downgraded shares of Huntsman Corporation (NYSE:HUN) from a strong-buy rating to a hold rating in a research note published on Tuesday, June 27th.
According to Zacks, “Huntsman Corporation is among the world’s largest global manufacturers of differentiated and commodity chemical products for a variety of industrial and consumer applications. “
Several other research firms also recently commented on HUN. BidaskClub downgraded Huntsman Corporation from a buy rating to a hold rating in a research report on Tuesday, June 13th. Nomura restated a buy rating and set a $30.00 price objective on shares of Huntsman Corporation in a research report on Thursday, April 27th. UBS AG restated a buy rating and set a $28.00 price objective (up from $24.00) on shares of Huntsman Corporation in a research report on Tuesday, April 4th. Jefferies Group LLC decreased their target price on Huntsman Corporation from $29.00 to $27.00 and set a buy rating for the company in a research note on Monday, May 22nd. Finally, Citigroup Inc. raised Huntsman Corporation from a neutral rating to a buy rating and raised their target price for the stock from $24.54 to $28.00 in a research note on Monday, April 3rd. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Huntsman Corporation currently has a consensus rating of Buy and an average price target of $27.71.
Huntsman Corporation (NYSE HUN) opened at 27.20 on Tuesday. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 18.99 and a beta of 2.81. Huntsman Corporation has a 52-week low of $14.16 and a 52-week high of $28.20. The stock has a 50 day moving average of $24.87 and a 200-day moving average of $22.77.
Huntsman Corporation (NYSE:HUN) last released its quarterly earnings data on Wednesday, April 26th. The basic materials company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.19. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. Huntsman Corporation had a return on equity of 25.96% and a net margin of 3.54%. Huntsman Corporation’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.37 earnings per share. On average, analysts expect that Huntsman Corporation will post $2.21 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were paid a $0.125 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $0.50 annualized dividend and a dividend yield of 1.84%. Huntsman Corporation’s payout ratio is presently 34.97%.
In other news, CEO Peter R. Huntsman acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was purchased at an average cost of $23.83 per share, for a total transaction of $238,300.00. Following the acquisition, the chief executive officer now owns 4,042,720 shares of the company’s stock, valued at $96,338,017.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon M. Huntsman sold 100,000 shares of the company’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $25.52, for a total value of $2,552,000.00. Following the completion of the transaction, the insider now owns 498,816 shares of the company’s stock, valued at $12,729,784.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,637 shares of company stock worth $4,860,720. Corporate insiders own 19.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Utah Retirement Systems raised its stake in Huntsman Corporation by 0.3% in the first quarter. Utah Retirement Systems now owns 36,137 shares of the basic materials company’s stock worth $887,000 after buying an additional 100 shares during the period. New York State Teachers Retirement System raised its position in Huntsman Corporation by 0.6% in the first quarter. New York State Teachers Retirement System now owns 17,600 shares of the basic materials company’s stock worth $432,000 after buying an additional 100 shares during the last quarter. M&T Bank Corp raised its position in Huntsman Corporation by 2.6% in the first quarter. M&T Bank Corp now owns 11,443 shares of the basic materials company’s stock worth $282,000 after buying an additional 293 shares during the last quarter. Duncker Streett & Co. Inc. raised its position in Huntsman Corporation by 3.4% in the first quarter. Duncker Streett & Co. Inc. now owns 12,000 shares of the basic materials company’s stock worth $294,000 after buying an additional 400 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Huntsman Corporation by 2.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,887 shares of the basic materials company’s stock worth $365,000 after buying an additional 410 shares during the last quarter. 71.74% of the stock is owned by institutional investors.
Huntsman Corporation Company Profile
Huntsman Corporation is a manufacturer of differentiated organic chemical products and of inorganic chemical products. The Company operates all of its businesses through its subsidiary, Huntsman International LLC (Huntsman International). The Company operates through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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