UBS Group Cuts Huntsman (NYSE:HUN) Price Target to $23.00

Huntsman (NYSE:HUN) had its price objective reduced by UBS Group from $24.00 to $23.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada lifted their target price on Huntsman from $21.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th. JPMorgan Chase & Co. dropped their target price on Huntsman from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Wells Fargo & Company dropped their price objective on Huntsman from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.75.

Huntsman Price Performance

NYSE:HUN traded down $0.61 during trading hours on Tuesday, reaching $20.53. The stock had a trading volume of 967,167 shares, compared to its average volume of 1,896,802. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.77 and a current ratio of 1.30. Huntsman has a 52 week low of $19.90 and a 52 week high of $27.01. The company has a 50 day moving average price of $22.71 and a two-hundred day moving average price of $23.03. The stock has a market capitalization of $3.55 billion, a PE ratio of -30.67 and a beta of 1.02.

Huntsman (NYSE:HUN) last announced its earnings results on Monday, November 4th. The basic materials company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Huntsman had a negative return on equity of 0.03% and a negative net margin of 1.99%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. As a group, sell-side analysts anticipate that Huntsman will post 0.19 earnings per share for the current fiscal year.

Huntsman Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.87%. The ex-dividend date is Friday, December 13th. Huntsman’s dividend payout ratio is -144.93%.

Institutional Investors Weigh In On Huntsman

Several hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Huntsman by 1.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,657,819 shares of the basic materials company’s stock worth $151,599,000 after buying an additional 97,082 shares during the period. Millennium Management LLC lifted its holdings in shares of Huntsman by 5.2% in the 2nd quarter. Millennium Management LLC now owns 4,891,928 shares of the basic materials company’s stock worth $111,389,000 after buying an additional 243,821 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of Huntsman by 54.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 4,415,264 shares of the basic materials company’s stock worth $100,536,000 after buying an additional 1,547,344 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Huntsman by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,408,592 shares of the basic materials company’s stock worth $62,697,000 after buying an additional 203,396 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Huntsman by 52.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,358,390 shares of the basic materials company’s stock worth $53,701,000 after buying an additional 811,099 shares during the period. 84.81% of the stock is currently owned by hedge funds and other institutional investors.

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.