Huntsman (NYSE:HUN) Shares Gap Up to $23.42

Huntsman Co. (NYSE:HUN)’s share price gapped up before the market opened on Monday . The stock had previously closed at $24.05, but opened at $23.42. Huntsman shares last traded at $22.86, with a volume of 630,637 shares.

Several research analysts have recently weighed in on HUN shares. Wells Fargo & Co started coverage on Huntsman in a report on Tuesday. They set an “outperform” rating and a $28.00 target price on the stock. UBS Group boosted their target price on Huntsman from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Barclays restated a “sell” rating and set a $19.00 target price on shares of Huntsman in a report on Wednesday, July 31st. Alembic Global Advisors upgraded Huntsman from a “neutral” rating to an “overweight” rating in a report on Monday, September 23rd. Finally, Nomura restated a “buy” rating and set a $26.00 target price on shares of Huntsman in a report on Sunday, August 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $27.55.

The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 6.89, a PEG ratio of 1.44 and a beta of 2.33. The company has a fifty day moving average price of $21.94 and a two-hundred day moving average price of $20.99. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.96.

Huntsman (NYSE:HUN) last released its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.02). The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Huntsman had a negative net margin of 1.37% and a positive return on equity of 18.68%. The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. As a group, equities research analysts expect that Huntsman Co. will post 1.9 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.1625 per share. This represents a $0.65 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Thursday, September 12th. Huntsman’s payout ratio is presently 19.46%.

Several hedge funds have recently added to or reduced their stakes in the company. Foundry Partners LLC raised its position in shares of Huntsman by 0.4% during the 2nd quarter. Foundry Partners LLC now owns 296,345 shares of the basic materials company’s stock valued at $6,057,000 after buying an additional 1,150 shares during the period. M&T Bank Corp raised its position in shares of Huntsman by 9.8% during the 2nd quarter. M&T Bank Corp now owns 12,902 shares of the basic materials company’s stock valued at $263,000 after buying an additional 1,156 shares during the period. D.A. Davidson & CO. raised its position in shares of Huntsman by 11.3% during the 2nd quarter. D.A. Davidson & CO. now owns 11,500 shares of the basic materials company’s stock valued at $235,000 after buying an additional 1,169 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of Huntsman by 54.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,566 shares of the basic materials company’s stock valued at $72,000 after buying an additional 1,261 shares during the period. Finally, HighTower Trust Services LTA raised its position in shares of Huntsman by 9.8% during the 2nd quarter. HighTower Trust Services LTA now owns 15,490 shares of the basic materials company’s stock valued at $317,000 after buying an additional 1,381 shares during the period. 74.57% of the stock is currently owned by hedge funds and other institutional investors.

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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