Huntsman (NYSE:HUN) Shares Gap Down to $31.13

Huntsman Co. (NYSE:HUNGet Rating)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $31.13, but opened at $30.07. Huntsman shares last traded at $30.16, with a volume of 4,209 shares trading hands.

Several research firms have commented on HUN. Wells Fargo & Company upped their price objective on shares of Huntsman from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, February 16th. Jefferies Financial Group upped their price objective on shares of Huntsman from $46.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, February 16th. Bank of America downgraded shares of Huntsman from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $45.00 to $34.00 in a report on Tuesday. The Goldman Sachs Group boosted their target price on shares of Huntsman from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, March 1st. Finally, Alembic Global Advisors reissued a “buy” rating and issued a $48.00 target price on shares of Huntsman in a research report on Monday, February 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $46.82.

The company’s 50-day moving average is $34.91 and its two-hundred day moving average is $35.85. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.88 and a quick ratio of 1.23. The firm has a market cap of $6.38 billion, a P/E ratio of 5.57, a PEG ratio of 0.60 and a beta of 1.13.

Huntsman (NYSE:HUNGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The basic materials company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.19. Huntsman had a net margin of 13.16% and a return on equity of 21.09%. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the business posted $0.66 earnings per share. Huntsman’s revenue was up 30.0% compared to the same quarter last year. On average, analysts expect that Huntsman Co. will post 4.49 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be issued a $0.2125 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.80%. Huntsman’s dividend payout ratio (DPR) is currently 15.71%.

Huntsman declared that its board has approved a share repurchase program on Monday, March 28th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the basic materials company to reacquire up to 24.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Several hedge funds have recently bought and sold shares of HUN. Starboard Value LP lifted its holdings in shares of Huntsman by 55.4% in the fourth quarter. Starboard Value LP now owns 18,026,236 shares of the basic materials company’s stock worth $628,755,000 after acquiring an additional 6,428,092 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Huntsman by 773.3% in the first quarter. First Trust Advisors LP now owns 7,122,627 shares of the basic materials company’s stock valued at $267,170,000 after buying an additional 6,307,003 shares during the period. Norges Bank acquired a new position in shares of Huntsman in the fourth quarter valued at approximately $141,366,000. Westwood Holdings Group Inc. increased its stake in shares of Huntsman by 409.6% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,735,693 shares of the basic materials company’s stock valued at $95,420,000 after buying an additional 2,198,907 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Huntsman by 69.8% in the first quarter. Invesco Ltd. now owns 4,556,712 shares of the basic materials company’s stock valued at $170,921,000 after buying an additional 1,873,388 shares during the period. 84.02% of the stock is 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 through 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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