Huntsman (NYSE:HUN) Shares Gap Up to $22.88

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Huntsman Co. (NYSE:HUN)’s share price gapped up before the market opened on Friday . The stock had previously closed at $22.38, but opened at $22.88. Huntsman shares last traded at $23.46, with a volume of 2,131,018 shares trading hands.

HUN has been the topic of several research reports. Barclays restated a “sell” rating and set a $19.00 price target on shares of Huntsman in a research note on Wednesday, July 31st. UBS Group set a $26.00 price target on Huntsman and gave the company a “buy” rating in a research note on Wednesday, July 31st. Jefferies Financial Group cut their price target on Huntsman from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, June 17th. ValuEngine upgraded Huntsman from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. Finally, Citigroup set a $21.00 price target on Huntsman and gave the company a “hold” rating in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $27.36.

The firm has a 50 day simple moving average of $20.02 and a 200-day simple moving average of $21.11. The company has a quick ratio of 1.16, a current ratio of 1.83 and a debt-to-equity ratio of 0.96. The company has a market cap of $5.25 billion, a PE ratio of 7.02, a price-to-earnings-growth ratio of 1.17 and a beta of 2.30.

Huntsman (NYSE:HUN) last posted its earnings results on Tuesday, July 30th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). Huntsman had a negative net margin of 1.37% and a positive return on equity of 18.68%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the firm earned $1.01 EPS. Huntsman’s revenue for the quarter was down 8.7% on a year-over-year basis. As a group, equities analysts anticipate that Huntsman Co. will post 2.3 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $0.1625 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.65 annualized dividend and a yield of 2.77%. Huntsman’s dividend payout ratio (DPR) is presently 19.46%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Huntsman by 1.3% during the first quarter. BlackRock Inc. now owns 15,541,338 shares of the basic materials company’s stock worth $349,525,000 after acquiring an additional 194,288 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Huntsman by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 3,760,365 shares of the basic materials company’s stock worth $72,537,000 after acquiring an additional 249,417 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Huntsman by 12.9% during the second quarter. Wells Fargo & Company MN now owns 3,450,438 shares of the basic materials company’s stock worth $70,527,000 after acquiring an additional 395,569 shares during the last quarter. Invesco Ltd. grew its stake in shares of Huntsman by 37.2% during the second quarter. Invesco Ltd. now owns 3,093,714 shares of the basic materials company’s stock worth $63,235,000 after acquiring an additional 838,161 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its stake in shares of Huntsman by 1.4% during the second quarter. Eagle Asset Management Inc. now owns 2,592,960 shares of the basic materials company’s stock worth $53,000,000 after acquiring an additional 35,554 shares during the last quarter. Institutional investors own 74.66% of the company’s stock.

About Huntsman (NYSE:HUN)

Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates in four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.

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