Royal Bank Of Canada Cuts Huntsman (NYSE:HUN) Price Target to $10.00

Huntsman (NYSE:HUN) had its price objective decreased by Royal Bank Of Canada from $11.00 to $10.00 in a research note issued to investors on Monday, MarketBeat.com reports. Royal Bank Of Canada currently has a sector perform rating on the basic materials company’s stock.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings upgraded Huntsman from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Bank of America upped their target price on Huntsman from $10.00 to $11.00 and gave the stock an “underperform” rating in a report on Tuesday, June 30th. Morgan Stanley increased their price target on Huntsman from $11.00 to $15.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Citigroup raised their price target on Huntsman from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company boosted their price target on Huntsman from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.83.

Huntsman Stock Down 2.8%

Shares of HUN stock opened at $10.14 on Monday. The firm’s fifty day moving average price is $12.39 and its two-hundred day moving average price is $12.78. The company has a current ratio of 1.33, a quick ratio of 0.75 and a debt-to-equity ratio of 0.59. Huntsman has a 1 year low of $7.30 and a 1 year high of $16.08. The firm has a market capitalization of $1.78 billion, a P/E ratio of -9.75 and a beta of 0.70.

Huntsman Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.0875 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.35 annualized dividend and a dividend yield of 3.5%. Huntsman’s payout ratio is currently -33.65%.

Insider Activity

In other news, CEO Peter R. Huntsman bought 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was acquired at an average cost of $9.81 per share, for a total transaction of $981,000.00. Following the purchase, the chief executive officer owned 7,256,341 shares of the company’s stock, valued at approximately $71,184,705.21. This trade represents a 1.40% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Huntsman

A number of institutional investors have recently bought and sold shares of HUN. FNY Investment Advisers LLC raised its stake in Huntsman by 28,682.7% in the second quarter. FNY Investment Advisers LLC now owns 43,174 shares of the basic materials company’s stock valued at $458,000 after buying an additional 43,024 shares during the period. Versant Capital Management Inc boosted its stake in shares of Huntsman by 166.7% during the 2nd quarter. Versant Capital Management Inc now owns 2,672 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 1,670 shares during the period. Caerus Investment Advisors LLC bought a new position in shares of Huntsman during the 1st quarter worth approximately $160,000. Glenmede Trust Co. NA acquired a new position in shares of Huntsman during the 1st quarter worth approximately $133,000. Finally, Segall Bryant & Hamill LLC bought a new stake in Huntsman in the 1st quarter valued at $1,284,000. Institutional investors and hedge funds own 84.81% of the company’s stock.

About Huntsman

Huntsman Corporation is a global manufacturer and marketer of specialty chemicals with headquarters in The Woodlands, Texas. Founded in 1970 by entrepreneur Jon Huntsman Sr., the company has grown through strategic acquisitions and organic expansion to establish a broad portfolio of products serving diverse end markets. Huntsman maintains a presence in more than 30 countries, operating manufacturing facilities across North America, Europe, Asia-Pacific, Latin America and the Middle East.

The company organizes its operations into several core business segments, including Polyurethanes, Performance Products, Advanced Materials, and Textile Effects.