Huntsman Corporation (NYSE:HUN) Sees Significant Decrease in Short Interest

Huntsman Corporation (NYSE:HUN) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 17,893,029 shares, a decrease of 38.2% from the June 15th total of 28,966,735 shares. Based on an average daily volume of 13,130,981 shares, the days-to-cover ratio is presently 1.4 days. Currently, 10.9% of the company’s shares are sold short.

Analysts Set New Price Targets

Several research firms have recently issued reports on HUN. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $15.00 price objective on shares of Huntsman in a report on Tuesday, May 19th. Wells Fargo & Company increased their target price on Huntsman from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Wall Street Zen raised Huntsman from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Mizuho lowered their price target on Huntsman from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. Finally, Citigroup upped their price objective on shares of Huntsman from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.67.

Hedge Funds Weigh In On Huntsman

Several hedge funds and other institutional investors have recently modified their holdings of HUN. Strategic Advocates LLC acquired a new stake in Huntsman during the 3rd quarter worth approximately $27,000. Versant Capital Management Inc lifted its position in Huntsman by 166.7% during the second quarter. Versant Capital Management Inc now owns 2,672 shares of the basic materials company’s stock valued at $28,000 after buying an additional 1,670 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Huntsman during the third quarter worth approximately $58,000. Caitong International Asset Management Co. Ltd grew its stake in Huntsman by 121.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 6,751 shares of the basic materials company’s stock worth $61,000 after buying an additional 3,706 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in shares of Huntsman by 1,005.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 6,514 shares of the basic materials company’s stock worth $65,000 after acquiring an additional 5,925 shares in the last quarter. 84.81% of the stock is owned by institutional investors and hedge funds.

Huntsman Stock Down 0.3%

Shares of NYSE HUN opened at $11.82 on Friday. The stock has a market capitalization of $2.07 billion, a PE ratio of -6.16 and a beta of 0.69. The company has a quick ratio of 0.75, a current ratio of 1.27 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $13.08 and a 200-day moving average of $12.70. Huntsman has a 52-week low of $7.30 and a 52-week high of $16.08.

Huntsman (NYSE:HUN) last issued its earnings results on Thursday, April 30th. The basic materials company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.03. Huntsman had a negative return on equity of 4.60% and a negative net margin of 5.83%.The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company posted ($0.11) EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts anticipate that Huntsman will post -0.21 EPS for the current year.

Huntsman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, June 15th. Huntsman’s dividend payout ratio (DPR) is -18.23%.

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.