Huntsman Corporation (NYSE:HUN – Get Free Report)’s share price was up 5.4% during trading on Wednesday . The company traded as high as $11.57 and last traded at $11.5670. Approximately 1,709,268 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 6,369,631 shares. The stock had previously closed at $10.97.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on HUN shares. Weiss Ratings raised Huntsman from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their price objective on shares of Huntsman from $14.00 to $15.00 and gave the stock a “sector perform” rating in a report on Monday, May 4th. Bank of America raised their price objective on shares of Huntsman from $10.00 to $11.00 and gave the company an “underperform” rating in a research note on Tuesday, June 30th. Wall Street Zen raised shares of Huntsman from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Morgan Stanley raised their price target on shares of Huntsman from $11.00 to $15.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.75.
View Our Latest Report on Huntsman
Huntsman Price Performance
Huntsman (NYSE:HUN – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.39 billion. During the same period in the previous year, the firm earned ($0.11) EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, research analysts anticipate that Huntsman Corporation will post -0.24 EPS for the current fiscal year.
Huntsman Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.0875 per share. The ex-dividend date was Monday, June 15th. This represents a $0.35 annualized dividend and a yield of 3.1%. Huntsman’s payout ratio is -18.23%.
Institutional Investors Weigh In On Huntsman
Several institutional investors and hedge funds have recently added to or reduced their stakes in HUN. Versant Capital Management Inc lifted its position in shares of Huntsman by 166.7% during the 2nd quarter. Versant Capital Management Inc now owns 2,672 shares of the basic materials company’s stock worth $28,000 after buying an additional 1,670 shares in the last quarter. Caerus Investment Advisors LLC bought a new position in shares of Huntsman in the first quarter valued at approximately $160,000. Glenmede Trust Co. NA bought a new stake in Huntsman during the first quarter worth $133,000. Segall Bryant & Hamill LLC purchased a new position in Huntsman in the first quarter worth $1,284,000. Finally, Essential Partners LLC grew its stake in Huntsman by 40.3% in the 1st quarter. Essential Partners LLC now owns 5,766 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 1,655 shares during the period. Hedge funds and other institutional investors own 84.81% of the company’s stock.
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.
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