Huntsman (NYSE:HUN) Stock Gets Price Target Trim from Royal Bank Of Canada

Huntsman (NYSE:HUN) had its price target trimmed by Royal Bank Of Canada from $10.00 to $9.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have a sector perform rating on the basic materials company’s stock.

Other analysts also recently issued research reports about the company. Citigroup dropped their target price on Huntsman from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. Wells Fargo & Company reduced their price target on shares of Huntsman from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 6th. Jefferies Financial Group reduced their price target on shares of Huntsman from $16.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, October 2nd. Mizuho decreased their price target on shares of Huntsman from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. Finally, Bank of America boosted their price objective on shares of Huntsman from $10.00 to $11.00 and gave the stock an “underperform” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.29.

Huntsman Stock Performance

NYSE HUN opened at $8.55 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.78 and a current ratio of 1.33. The stock’s 50-day simple moving average is $9.30 and its two-hundred day simple moving average is $11.71. Huntsman has a twelve month low of $7.30 and a twelve month high of $16.08.

Huntsman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a $0.0875 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.35 annualized dividend and a dividend yield of 4.1%. Huntsman’s payout ratio is currently -33.65%.

Insider Activity at Huntsman

In related news, CEO Peter R. Huntsman bought 100,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was bought at an average price of $9.81 per share, with a total value of $981,000.00. Following the purchase, the chief executive officer owned 7,256,341 shares in the company, valued at approximately $71,184,705.21. The trade was a 1.40% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Huntsman

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NorthCrest Asset Manangement LLC bought a new stake in Huntsman in the third quarter valued at approximately $104,000. Versant Capital Management Inc boosted its stake in shares of Huntsman by 174.6% during the third quarter. Versant Capital Management Inc now owns 7,338 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 4,666 shares during the period. WINTON GROUP Ltd bought a new position in shares of Huntsman in the second quarter worth approximately $906,000. Nykredit A S bought a new position in shares of Huntsman in the second quarter worth approximately $32,000. Finally, Corient Private Wealth LP grew its holdings in shares of Huntsman by 18.4% in the second quarter. Corient Private Wealth LP now owns 67,330 shares of the basic materials company’s stock worth $715,000 after purchasing an additional 10,485 shares during the last quarter. 84.81% of the stock is currently owned by institutional investors.

Huntsman Company Profile

Huntsman Corporation (NYSE:HUN) is a global manufacturer of differentiated and commodity chemical products. Founded in 1970, the company serves customers in industries including construction, automotive, aerospace, energy, electronics, coatings, adhesives, and consumer products.

Huntsman’s product portfolio includes polyurethane chemicals such as methylene diphenyl diisocyanate, or MDI, and polyols; performance chemicals including amines and maleic anhydride; and advanced materials such as epoxy-based formulations, adhesives, and composite materials.