Huntsman Corp. (HUN) Upgraded at Zacks Investment Research
Huntsman Corp. (NYSE:HUN) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Huntsman Corporation is among the world’s largest global manufacturers of differentiated and commodity chemical products for a variety of industrial and consumer applications. “
A number of other equities analysts have also commented on the stock. Nomura reduced their target price on shares of Huntsman Corp. from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, September 20th. Jefferies Group reissued a “buy” rating and set a $20.00 price objective on shares of Huntsman Corp. in a report on Tuesday, September 20th. Finally, Citigroup Inc. lifted their price objective on shares of Huntsman Corp. from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, July 15th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $17.44.
Huntsman Corp. (NYSE:HUN) opened at 15.53 on Wednesday. Huntsman Corp. has a 12-month low of $7.46 and a 12-month high of $18.12. The company has a market capitalization of $3.70 billion, a PE ratio of 18.53 and a beta of 2.71. The stock’s 50 day moving average price is $16.29 and its 200 day moving average price is $15.02.
Huntsman Corp. (NYSE:HUN) last issued its earnings results on Wednesday, July 27th. The company reported $0.53 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.53. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.59 billion. Huntsman Corp. had a net margin of 2.05% and a return on equity of 26.60%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. On average, equities analysts anticipate that Huntsman Corp. will post $1.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 3.22%. The ex-dividend date is Tuesday, September 13th. Huntsman Corp.’s dividend payout ratio is currently 59.52%.
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Huntsman Corp. by 3.2% in the second quarter. Vanguard Group Inc. now owns 15,728,178 shares of the company’s stock valued at $211,544,000 after buying an additional 487,666 shares in the last quarter. Scopia Capital Management LP increased its stake in Huntsman Corp. by 39.7% in the first quarter. Scopia Capital Management LP now owns 14,807,467 shares of the company’s stock valued at $196,939,000 after buying an additional 4,210,142 shares during the last quarter. LSV Asset Management increased its stake in Huntsman Corp. by 5.9% in the second quarter. LSV Asset Management now owns 9,925,708 shares of the company’s stock valued at $133,500,000 after buying an additional 548,633 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Huntsman Corp. by 21.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,664,012 shares of the company’s stock valued at $76,183,000 after buying an additional 996,648 shares during the last quarter. Finally, BlackRock Fund Advisors increased its stake in Huntsman Corp. by 7.2% in the second quarter. BlackRock Fund Advisors now owns 5,660,286 shares of the company’s stock valued at $76,131,000 after buying an additional 381,874 shares during the last quarter. 67.25% of the stock is currently owned by institutional investors and hedge funds.
About Huntsman Corp.
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). It operates in five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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