Huntsman Co. (HUN) Sets New 1-Year High After Dividend Announcement
Huntsman Co. (NYSE:HUN) shares reached a new 52-week high during trading on Tuesday after the company announced a dividend. The company traded as high as $19.05 and last traded at $19.05, with a volume of 1,509,385 shares traded. The stock had previously closed at $18.64.
The newly announced dividend which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.50 dividend on an annualized basis and a yield of 2.59%. Huntsman’s dividend payout ratio is currently 58.82%.
A number of equities research analysts have issued reports on the company. Zacks Investment Research cut Huntsman from a “hold” rating to a “sell” rating in a research report on Tuesday, October 18th. Jefferies Group reaffirmed a “buy” rating and set a $20.00 target price on shares of Huntsman in a research report on Tuesday, September 20th. Finally, Nomura decreased their target price on Huntsman from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, September 20th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $17.17.
The company has a market cap of $4.61 billion, a price-to-earnings ratio of 22.91 and a beta of 2.71. The stock has a 50 day moving average of $16.74 and a 200 day moving average of $15.77.
Huntsman (NYSE:HUN) last released its earnings results on Friday, October 28th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.48 billion. Huntsman had a return on equity of 25.26% and a net margin of 2.11%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 EPS. Analysts expect that Huntsman Co. will post $1.53 EPS for the current year.
In other Huntsman news, insider Jon M. Huntsman sold 600,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $17.27, for a total value of $10,362,000.00. Following the sale, the insider now owns 692,772 shares in the company, valued at approximately $11,964,172.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 19.68% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Scopia Capital Management LP boosted its stake in Huntsman 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. Loomis Sayles & Co. L P purchased a new stake in Huntsman during the first quarter valued at approximately $148,000. Strs Ohio purchased a new stake in Huntsman during the second quarter valued at approximately $24,210,000. Tower Research Capital LLC TRC boosted its stake in Huntsman by 83.0% in the second quarter. Tower Research Capital LLC TRC now owns 13,756 shares of the company’s stock valued at $185,000 after buying an additional 6,239 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Huntsman during the second quarter valued at approximately $204,000. Hedge funds and other institutional investors own 67.23% of the company’s stock.
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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