Huntsman (NYSE:HUN) Price Target Lowered to $21.00 at Mizuho

Huntsman (NYSE:HUN) had its target price cut by Mizuho from $23.00 to $21.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Several other research firms have also commented on HUN. Royal Bank of Canada decreased their price objective on shares of Huntsman from $23.00 to $20.00 and set a “sector perform” rating for the company in a research note on Thursday, December 19th. Citigroup decreased their price target on Huntsman from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Wells Fargo & Company reduced their price objective on Huntsman from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Finally, UBS Group lowered their target price on Huntsman from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Huntsman currently has an average rating of “Hold” and an average target price of $23.75.

Huntsman Price Performance

Shares of NYSE:HUN opened at $17.00 on Tuesday. The business’s 50 day moving average is $19.32 and its 200 day moving average is $21.38. Huntsman has a 12-month low of $16.92 and a 12-month high of $27.01. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -24.64 and a beta of 0.97. The company has a quick ratio of 0.83, a current ratio of 1.47 and a debt-to-equity ratio of 0.45.

Huntsman (NYSE:HUN) last posted its quarterly earnings data on Monday, November 4th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.55 billion. Huntsman had a negative net margin of 1.99% and a negative return on equity of 0.03%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 EPS. On average, sell-side analysts forecast that Huntsman will post 0.09 earnings per share for the current fiscal year.

Huntsman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 5.88%. Huntsman’s dividend payout ratio is presently -144.93%.

Insider Activity

In related news, Director Mary C. Beckerle sold 20,201 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $21.42, for a total transaction of $432,705.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Huntsman

Several hedge funds have recently bought and sold shares of HUN. Millennium Management LLC increased its position in shares of Huntsman by 5.2% in the second quarter. Millennium Management LLC now owns 4,891,928 shares of the basic materials company’s stock worth $111,389,000 after purchasing an additional 243,821 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Huntsman by 54.0% in the second quarter. 1832 Asset Management L.P. now owns 4,415,264 shares of the basic materials company’s stock valued at $100,536,000 after acquiring an additional 1,547,344 shares during the period. State Street Corp raised its position in Huntsman by 2.2% during the 3rd quarter. State Street Corp now owns 3,301,850 shares of the basic materials company’s stock valued at $79,905,000 after purchasing an additional 70,382 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Huntsman by 1.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 3,055,267 shares of the basic materials company’s stock worth $73,937,000 after buying an additional 31,883 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Huntsman by 1.6% during the third quarter. Geode Capital Management LLC now owns 2,583,522 shares of the basic materials company’s stock valued at $62,538,000 after buying an additional 40,330 shares during the period. Hedge funds and other institutional investors own 84.81% of the company’s stock.

About Huntsman

Huntsman Corporation manufactures and sells diversified organic chemical products worldwide. The company operates in three segments: Polyurethanes, Performance Products, and Advanced Materials. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyether and polyester polyols, and thermoplastic polyurethane; and aniline, benzene, nitrobenzene and other co-products.