Huntsman (NYSE:HUN) Price Target Cut to $13.50 by Analysts at The Goldman Sachs Group

Huntsman (NYSE:HUN) had its price objective trimmed by The Goldman Sachs Group from $19.00 to $13.50 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a sell rating on the basic materials company’s stock.

Several other brokerages also recently issued reports on HUN. UBS Group dropped their target price on shares of Huntsman from $18.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Alembic Global Advisors cut Huntsman from an “overweight” rating to a “neutral” rating in a research report on Wednesday, January 15th. Mizuho cut their target price on Huntsman from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company cut Huntsman from an “overweight” rating to a “reduce” rating in a research note on Monday. Finally, JPMorgan Chase & Co. dropped their price objective on Huntsman from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.00.

Huntsman Stock Performance

Huntsman stock opened at $11.41 on Tuesday. Huntsman has a twelve month low of $11.32 and a twelve month high of $25.78. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $1.98 billion, a P/E ratio of -10.37 and a beta of 0.82. The stock’s 50 day moving average is $14.78 and its 200 day moving average is $17.36.

Huntsman (NYSE:HUN) last released its earnings results on Thursday, May 1st. The basic materials company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Huntsman had a negative return on equity of 0.39% and a negative net margin of 3.13%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) earnings per share. On average, equities research analysts predict that Huntsman will post 0.32 earnings per share for the current fiscal year.

Huntsman Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.77%. The ex-dividend date is Friday, June 13th. Huntsman’s dividend payout ratio (DPR) is presently -109.89%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Pzena Investment Management LLC boosted its holdings in shares of Huntsman by 320.2% in the fourth quarter. Pzena Investment Management LLC now owns 4,695,678 shares of the basic materials company’s stock worth $84,663,000 after buying an additional 3,578,100 shares during the last quarter. Nomura Holdings Inc. raised its position in Huntsman by 188.3% in the fourth quarter. Nomura Holdings Inc. now owns 3,269,000 shares of the basic materials company’s stock worth $58,940,000 after acquiring an additional 2,135,000 shares during the period. Norges Bank purchased a new position in shares of Huntsman during the 4th quarter worth $37,464,000. Deprince Race & Zollo Inc. grew its position in shares of Huntsman by 70.2% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,762,907 shares of the basic materials company’s stock valued at $49,815,000 after acquiring an additional 1,139,549 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Huntsman by 61.3% in the 4th quarter. Marshall Wace LLP now owns 1,712,163 shares of the basic materials company’s stock worth $30,870,000 after purchasing an additional 650,951 shares in the last quarter. 84.81% of the stock is owned by hedge funds and other institutional investors.

About Huntsman

Huntsman Corporation manufactures and sells diversified organic chemical products worldwide. The company operates in three segments: Polyurethanes, Performance Products, and Advanced Materials. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyether and polyester polyols, and thermoplastic polyurethane; and aniline, benzene, nitrobenzene and other co-products.