Wells Fargo & Company Reiterates Equal Weight Rating for Huntsman (NYSE:HUN)

Wells Fargo & Company reiterated their equal weight rating on shares of Huntsman (NYSE:HUN) in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage currently has a $13.00 target price on the basic materials company’s stock, down from their previous target price of $17.00.

Several other equities research analysts have also recently issued reports on HUN. Alembic Global Advisors cut Huntsman from an “overweight” rating to a “neutral” rating in a report on Wednesday, January 15th. UBS Group lowered their price target on Huntsman from $18.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, April 7th. The Goldman Sachs Group dropped their price objective on shares of Huntsman from $22.00 to $19.00 and set a “sell” rating for the company in a research note on Wednesday, March 5th. Bank of America cut shares of Huntsman from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $15.00 in a research report on Tuesday, April 15th. Finally, Citigroup cut their price target on shares of Huntsman from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, April 4th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.00.

Huntsman Stock Performance

Huntsman stock opened at $11.21 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.83 and a current ratio of 1.36. Huntsman has a fifty-two week low of $11.15 and a fifty-two week high of $25.78. The stock has a fifty day moving average of $14.67 and a two-hundred day moving average of $17.31. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -10.19 and a beta of 0.82.

Huntsman (NYSE:HUN) last announced its earnings results on Thursday, May 1st. The basic materials company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.51 billion. Huntsman had a negative net margin of 3.13% and a negative return on equity of 0.39%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) EPS. On average, analysts anticipate that Huntsman will post 0.32 EPS for the current fiscal year.

Huntsman Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.00 annualized dividend and a yield of 8.92%. Huntsman’s dividend payout ratio is currently -109.89%.

Institutional Investors Weigh In On Huntsman

Several institutional investors and hedge funds have recently modified their holdings of HUN. Hexagon Capital Partners LLC lifted its position in Huntsman by 177.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,179 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 1,395 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Huntsman during the fourth quarter valued at approximately $40,000. Quadrant Capital Group LLC boosted its stake in shares of Huntsman by 74.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,232 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 956 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of Huntsman in the fourth quarter valued at $60,000. Finally, Versant Capital Management Inc increased its stake in Huntsman by 2,388.4% during the 1st quarter. Versant Capital Management Inc now owns 4,081 shares of the basic materials company’s stock worth $64,000 after buying an additional 3,917 shares during the period. Hedge funds and other institutional investors own 84.81% of the company’s stock.

Huntsman Company Profile

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.