Huntsman (HUN) Earns Overweight Rating from Analysts at J P Morgan Chase & Co
J P Morgan Chase & Co assumed coverage on shares of Huntsman (NYSE:HUN) in a report released on Wednesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $36.00 target price on the basic materials company’s stock.
HUN has been the topic of a number of other reports. Goldman Sachs Group reiterated a hold rating and set a $36.00 price target on shares of Huntsman in a report on Monday, December 4th. UBS lifted their price target on Huntsman from $32.00 to $35.00 and gave the stock a buy rating in a report on Monday, October 30th. Nomura lifted their price target on Huntsman to $40.00 and gave the stock a buy rating in a report on Monday, October 30th. Alembic Global Advisors reiterated a buy rating on shares of Huntsman in a report on Monday, November 6th. Finally, SunTrust Banks reiterated a buy rating and set a $32.00 price target on shares of Huntsman in a report on Friday, October 27th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Huntsman has an average rating of Buy and a consensus price target of $33.00.
Shares of Huntsman (NYSE:HUN) traded up $0.76 during trading on Wednesday, reaching $31.70. The company’s stock had a trading volume of 2,981,696 shares, compared to its average volume of 3,573,341. The firm has a market capitalization of $7,425.85, a PE ratio of 12.95, a PEG ratio of 1.42 and a beta of 2.85. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 1.10. Huntsman has a 12-month low of $18.93 and a 12-month high of $32.59.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.125 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.58%. Huntsman’s payout ratio is 23.47%.
In related news, Chairman Jon M. Huntsman sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $32.32, for a total transaction of $3,232,000.00. Following the completion of the transaction, the chairman now directly owns 115,206 shares in the company, valued at $3,723,457.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Corp Huntsman sold 21,764,800 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $21.66, for a total value of $471,425,568.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,061,783 shares of company stock valued at $512,316,794. 19.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Assetmark Inc. lifted its stake in shares of Huntsman by 1,658.4% in the 3rd quarter. Assetmark Inc. now owns 3,974 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 3,748 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new stake in shares of Huntsman in the 2nd quarter valued at about $106,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Huntsman in the 2nd quarter valued at about $109,000. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Huntsman by 0.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,385 shares of the basic materials company’s stock valued at $139,000 after acquiring an additional 24 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Huntsman by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,281 shares of the basic materials company’s stock valued at $188,000 after acquiring an additional 610 shares during the last quarter. Hedge funds and other institutional investors own 75.47% of the company’s stock.
Huntsman Company Profile
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). The Company operates through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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