Huntsman (NYSE:HUN) Given “Equal Weight” Rating at Wells Fargo & Company

Wells Fargo & Company reissued their equal weight rating on shares of Huntsman (NYSE:HUN) in a research note released on Monday, Marketbeat Ratings reports. The firm currently has a $13.00 price target on the basic materials company’s stock, down from their previous price target of $17.00.

HUN has been the topic of a number of other research reports. Morgan Stanley decreased their target price on Huntsman from $24.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Citigroup reduced their target price on shares of Huntsman from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, April 4th. Alembic Global Advisors cut Huntsman from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 15th. UBS Group decreased their target price on Huntsman from $18.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Finally, Bank of America downgraded Huntsman from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $15.00 in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.61.

Huntsman Trading Down 4.1 %

Shares of HUN opened at $11.62 on Monday. Huntsman has a twelve month low of $11.60 and a twelve month high of $25.78. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.48. The company’s fifty day simple moving average is $14.89 and its 200-day simple moving average is $17.40. The company has a market cap of $2.02 billion, a P/E ratio of -10.56 and a beta of 0.85.

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

Huntsman Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.61%. The ex-dividend date of this dividend is Friday, June 13th. Huntsman’s payout ratio is currently -90.91%.

Institutional Trading of Huntsman

Hedge funds have recently modified their holdings of the company. Tidal Investments LLC lifted its position in Huntsman by 84.6% during the third quarter. Tidal Investments LLC now owns 28,098 shares of the basic materials company’s stock valued at $680,000 after acquiring an additional 12,875 shares during the last quarter. Principal Financial Group Inc. raised its stake in Huntsman by 10.3% in the third quarter. Principal Financial Group Inc. now owns 1,342,478 shares of the basic materials company’s stock valued at $32,488,000 after buying an additional 124,841 shares during the last quarter. First Hawaiian Bank purchased a new stake in shares of Huntsman during the fourth quarter worth about $569,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Huntsman by 1.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 38,070 shares of the basic materials company’s stock valued at $686,000 after acquiring an additional 674 shares in the last quarter. Finally, Matrix Trust Co raised its position in shares of Huntsman by 853.7% in the 4th quarter. Matrix Trust Co now owns 9,661 shares of the basic materials company’s stock valued at $174,000 after purchasing an additional 8,648 shares during the last quarter. 84.81% of the stock is 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.