Huntsman Corporation (NYSE:HUN) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Huntsman Corporation (NYSE:HUN) have been given a consensus recommendation of “Reduce” by the fourteen ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $12.50.

A number of research analysts have weighed in on HUN shares. UBS Group reduced their target price on Huntsman from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Wells Fargo & Company cut their price target on shares of Huntsman from $14.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 4th. Bank of America boosted their target price on Huntsman from $10.00 to $11.00 and gave the stock an “underperform” rating in a research report on Tuesday, June 30th. Weiss Ratings downgraded shares of Huntsman from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, August 3rd. Finally, Jefferies Financial Group set a $16.00 target price on Huntsman in a research report on Friday, July 31st.

Huntsman Stock Down 2.3%

Shares of Huntsman stock opened at $9.57 on Friday. Huntsman has a 12-month low of $7.30 and a 12-month high of $16.08. The company has a current ratio of 1.33, a quick ratio of 0.78 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $10.67 and its two-hundred day simple moving average is $12.32. The company has a market cap of $1.68 billion, a P/E ratio of -9.20 and a beta of 0.70.

Huntsman Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.0875 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 3.7%. Huntsman’s payout ratio is -33.65%.

Insider Activity at Huntsman

In other Huntsman news, CEO Peter R. Huntsman purchased 100,000 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was acquired at an average price of $9.81 per share, for a total transaction of $981,000.00. Following the purchase, the chief executive officer owned 7,256,341 shares of the company’s stock, valued at approximately $71,184,705.21. This represents a 1.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Huntsman

Institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG purchased a new stake in shares of Huntsman during the 2nd quarter valued at about $6,773,000. Empowered Funds LLC boosted its holdings in Huntsman by 794.1% during the 1st quarter. Empowered Funds LLC now owns 128,864 shares of the basic materials company’s stock valued at $1,715,000 after acquiring an additional 114,451 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of Huntsman in the first quarter worth about $2,632,000. Kintayl Capital LP bought a new position in Huntsman in the 2nd quarter worth about $3,800,000. Finally, Old West Investment Management LLC purchased a new position in Huntsman during the 2nd quarter worth $1,401,000. 84.81% of the stock is owned by hedge funds and other institutional investors.

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.