Huntsman Corporation (HUN) to Issue Quarterly Dividend of $0.13 on December 29th
Huntsman Corporation (NYSE:HUN) announced a quarterly dividend on Monday, November 6th, RTT News reports. Shareholders of record on Friday, December 15th will be given a dividend of 0.125 per share by the basic materials company on Friday, December 29th. This represents a $0.50 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Thursday, December 14th.
Huntsman has a dividend payout ratio of 18.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Huntsman to earn $2.22 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 22.5%.
Shares of Huntsman (NYSE:HUN) opened at $31.97 on Wednesday. The stock has a market cap of $7,457.05, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 1.43 and a beta of 2.85. Huntsman has a fifty-two week low of $18.93 and a fifty-two week high of $32.59. The company has a current ratio of 1.87, a quick ratio of 1.52 and a debt-to-equity ratio of 1.10.
Huntsman (NYSE:HUN) last released its earnings results on Friday, October 27th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.17. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.99 billion. Huntsman had a net margin of 5.37% and a return on equity of 30.64%. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. equities analysts predict that Huntsman will post 2.72 earnings per share for the current year.
In other Huntsman news, Chairman Jon M. Huntsman sold 383,610 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $31.58, for a total transaction of $12,114,403.80. Following the transaction, the chairman now directly owns 115,206 shares of the company’s stock, valued at approximately $3,638,205.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony P. Hankins sold 80,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $31.88, for a total transaction of $2,550,400.00. Following the transaction, the chief executive officer now directly owns 442,615 shares in the company, valued at $14,110,566.20. The disclosure for this sale can be found here. Insiders have sold a total of 23,061,783 shares of company stock worth $512,316,794 over the last three months. 19.00% of the stock is currently owned by insiders.
An institutional investor recently raised its position in Huntsman stock. The Manufacturers Life Insurance Company grew its position in Huntsman Corporation (NYSE:HUN) by 9.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,281 shares of the basic materials company’s stock after acquiring an additional 610 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Huntsman were worth $188,000 at the end of the most recent quarter. 75.47% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on HUN shares. ValuEngine upgraded shares of Huntsman from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. KeyCorp restated a “buy” rating and issued a $34.00 price objective on shares of Huntsman in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Huntsman from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Wednesday, October 11th. Nomura raised their price objective on shares of Huntsman to $40.00 and gave the company a “buy” rating in a report on Monday, October 30th. Finally, SunTrust Banks restated a “buy” rating and issued a $32.00 price objective on shares of Huntsman in a report on Friday, October 27th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $32.73.
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Huntsman Company Profile
Huntsman Corporation is a manufacturer of differentiated organic chemical products and of inorganic chemical products. The Company operates all of its businesses through its subsidiary, Huntsman International LLC (Huntsman International). The Company operates through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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