Huntsman (NYSE:HUN) Stock Price Down 6.7% – Here’s Why

Huntsman Corporation (NYSE:HUN)’s stock price dropped 6.7% during mid-day trading on Friday . The stock traded as low as $10.76 and last traded at $10.7360. Approximately 1,145,207 shares changed hands during trading, a decline of 82% from the average daily volume of 6,525,580 shares. The stock had previously closed at $11.51.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HUN. Citigroup increased their price target on Huntsman from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. UBS Group upped their price objective on Huntsman from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. JPMorgan Chase & Co. lowered Huntsman from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $11.00 to $14.00 in a research note on Thursday, February 19th. The Goldman Sachs Group reissued a “sell” rating and set a $13.00 target price on shares of Huntsman in a research note on Friday, February 20th. Finally, Wells Fargo & Company upped their price target on shares of Huntsman from $9.00 to $12.00 and gave the stock an “equal weight” rating in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $12.41.

Huntsman Stock Performance

The firm has a 50 day moving average of $12.29 and a 200-day moving average of $10.49. The company has a market cap of $1.84 billion, a P/E ratio of -6.42 and a beta of 0.66. The company has a quick ratio of 0.78, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Huntsman (NYSE:HUN) last issued its earnings results on Tuesday, February 17th. The basic materials company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.08). Huntsman had a negative net margin of 5.00% and a negative return on equity of 3.97%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm earned ($0.25) earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Huntsman Corporation will post 0.32 EPS for the current fiscal year.

Huntsman Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a $0.0875 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.35 dividend on an annualized basis and a yield of 3.3%. Huntsman’s dividend payout ratio is -21.34%.

Institutional Investors Weigh In On Huntsman

Several large investors have recently modified their holdings of HUN. Strategic Advocates LLC bought a new position in shares of Huntsman during the third quarter valued at approximately $27,000. SJS Investment Consulting Inc. bought a new position in Huntsman in the third quarter worth approximately $33,000. GAMMA Investing LLC lifted its holdings in Huntsman by 104.9% during the third quarter. GAMMA Investing LLC now owns 3,935 shares of the basic materials company’s stock worth $35,000 after buying an additional 2,015 shares during the period. Strengthening Families & Communities LLC boosted its position in Huntsman by 2,182.0% during the 3rd quarter. Strengthening Families & Communities LLC now owns 4,313 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 4,124 shares in the last quarter. Finally, Bayforest Capital Ltd boosted its position in Huntsman by 986.0% during the 3rd quarter. Bayforest Capital Ltd now owns 6,505 shares of the basic materials company’s stock valued at $58,000 after acquiring an additional 5,906 shares in the last quarter. Institutional investors own 84.81% of the company’s stock.

Huntsman Company Profile

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.