ValuEngine cut shares of Huntsman (NYSE:HUN) from a strong-buy rating to a buy rating in a report issued on Saturday morning.
Several other equities analysts also recently commented on HUN. Goldman Sachs restated a hold rating and issued a $36.00 price target on shares of Huntsman in a research note on Monday, December 4th. JPMorgan Chase & Co. initiated coverage on shares of Huntsman in a research note on Wednesday, December 13th. They issued an overweight rating and a $36.00 price target for the company. Tudor Pickering initiated coverage on shares of Huntsman in a research note on Friday, January 19th. They issued a buy rating for the company. Jefferies Group boosted their price target on shares of Huntsman to $43.00 and gave the stock a buy rating in a research note on Friday, January 26th. Finally, KeyCorp boosted their price target on shares of Huntsman from $37.00 to $42.00 and gave the stock an overweight rating in a research note on Tuesday, February 13th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $35.58.
Huntsman (NYSE HUN) opened at $30.44 on Friday. The company has a market cap of $7,527.12, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.38 and a beta of 2.71. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.83 and a quick ratio of 1.50. Huntsman has a 12 month low of $21.92 and a 12 month high of $36.09.
Huntsman (NYSE:HUN) last posted its quarterly earnings results on Friday, February 23rd. The basic materials company reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.10. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.10 billion. Huntsman had a net margin of 6.73% and a return on equity of 29.30%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share. sell-side analysts forecast that Huntsman will post 2.74 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.1625 per share. This is a boost from Huntsman’s previous quarterly dividend of $0.13. This represents a $0.65 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Wednesday, March 14th. Huntsman’s payout ratio is 25.00%.
Huntsman announced that its board has initiated a stock buyback program on Friday, February 23rd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the basic materials company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
In other news, CEO Anthony P. Hankins sold 100,000 shares of Huntsman stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $33.24, for a total transaction of $3,324,000.00. Following the completion of the sale, the chief executive officer now directly owns 462,615 shares of the company’s stock, valued at approximately $15,377,322.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Corp Huntsman sold 1,948,955 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $21.66, for a total transaction of $42,214,365.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,150,955 shares of company stock valued at $48,905,165. Corporate insiders own 19.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Huntsman by 2.5% in the fourth quarter. BlackRock Inc. now owns 11,671,197 shares of the basic materials company’s stock valued at $388,534,000 after acquiring an additional 280,753 shares during the last quarter. Millennium Management LLC lifted its position in Huntsman by 766.0% in the fourth quarter. Millennium Management LLC now owns 6,494,754 shares of the basic materials company’s stock valued at $216,210,000 after acquiring an additional 5,744,820 shares during the last quarter. Iridian Asset Management LLC CT purchased a new stake in Huntsman in the fourth quarter valued at $205,327,000. Bank of New York Mellon Corp lifted its position in Huntsman by 292.7% in the fourth quarter. Bank of New York Mellon Corp now owns 5,538,830 shares of the basic materials company’s stock valued at $184,387,000 after acquiring an additional 4,128,204 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Huntsman by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 5,466,615 shares of the basic materials company’s stock valued at $149,566,000 after acquiring an additional 75,590 shares during the last quarter. 75.95% of the stock is owned by hedge funds and other institutional investors.
Huntsman 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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