Huntsman (HUN) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Huntsman (NYSE:HUN) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Several other equities research analysts have also issued reports on HUN. Tudor Pickering initiated coverage on shares of Huntsman in a report on Friday, January 19th. They issued a buy rating for the company. Jefferies Group raised their target price on shares of Huntsman to $43.00 and gave the stock a buy rating in a report on Friday, January 26th. KeyCorp raised their target price on shares of Huntsman from $37.00 to $42.00 and gave the stock an overweight rating in a report on Tuesday, February 13th. Citigroup raised their target price on shares of Huntsman from $41.00 to $43.00 and gave the stock a buy rating in a report on Tuesday, February 27th. Finally, Instinet reiterated a neutral rating on shares of Huntsman in a report on Tuesday, March 20th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $35.54.

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Huntsman stock opened at $31.12 on Wednesday. The stock has a market capitalization of $7,643.15, a PE ratio of 12.55, a PEG ratio of 1.37 and a beta of 2.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.83 and a quick ratio of 1.50. Huntsman has a 12-month low of $23.12 and a 12-month high of $36.09.

Huntsman (NYSE:HUN) last released its earnings results on Friday, February 23rd. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.10. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.10 billion. Huntsman had a net margin of 6.73% and a return on equity of 29.30%. The business’s revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the business earned $0.30 EPS. research analysts forecast that Huntsman will post 2.8 EPS for the current year.

Huntsman announced that its Board of Directors has authorized a share repurchase plan on Friday, February 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the basic materials company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Thursday, March 15th were issued a dividend of $0.1625 per share. This is a positive change from Huntsman’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.65 dividend on an annualized basis and a yield of 2.09%. Huntsman’s dividend payout ratio (DPR) is presently 26.21%.

In other news, insider Monte G. Edlund sold 2,000 shares of the business’s stock in a transaction dated Saturday, February 17th. The shares were sold at an average price of $21.40, for a total value of $42,800.00. Following the completion of the sale, the insider now owns 52,696 shares in the company, valued at approximately $1,127,694.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 19.00% of the company’s stock.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Huntsman by 2.5% in the 4th quarter. BlackRock Inc. now owns 11,671,197 shares of the basic materials company’s stock valued at $388,534,000 after purchasing an additional 280,753 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Huntsman by 766.0% in the 4th quarter. Millennium Management LLC now owns 6,494,754 shares of the basic materials company’s stock valued at $216,210,000 after purchasing an additional 5,744,820 shares in the last quarter. Iridian Asset Management LLC CT bought a new stake in shares of Huntsman in the 4th quarter valued at about $205,327,000. Bank of New York Mellon Corp raised its holdings in shares of Huntsman by 292.7% in the 4th quarter. Bank of New York Mellon Corp now owns 5,538,830 shares of the basic materials company’s stock valued at $184,387,000 after purchasing an additional 4,128,204 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Huntsman by 254.8% in the 4th quarter. Two Sigma Investments LP now owns 3,534,199 shares of the basic materials company’s stock valued at $117,653,000 after purchasing an additional 2,537,977 shares in the last quarter. Institutional investors and hedge funds own 75.95% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Huntsman (NYSE:HUN)

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