Huntsman (HUN) Coverage Initiated by Analysts at J P Morgan Chase & Co
J P Morgan Chase & Co assumed coverage on shares of Huntsman (NYSE:HUN) in a research note issued to investors on Wednesday. The brokerage issued an overweight rating and a $36.00 target price on the basic materials company’s stock.
Several other equities analysts have also issued reports on HUN. BidaskClub raised Huntsman from a sell rating to a hold rating in a research note on Wednesday, August 23rd. ValuEngine raised Huntsman from a buy rating to a strong-buy rating in a research note on Friday, September 1st. KeyCorp reissued a buy rating and set a $34.00 target price on shares of Huntsman in a research note on Friday, September 1st. UBS increased their target price on Huntsman from $31.00 to $32.00 and gave the stock a buy rating in a research note on Tuesday, September 19th. Finally, Nomura increased their target price on Huntsman from $30.00 to $34.00 and gave the stock a buy rating in a research note on Tuesday, September 19th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Huntsman has a consensus rating of Buy and a consensus target price of $33.00.
Huntsman (NYSE:HUN) traded up $0.07 on Wednesday, reaching $31.79. The company had a trading volume of 4,899,700 shares, compared to its average volume of 3,681,142. Huntsman has a 1 year low of $18.93 and a 1 year 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. The firm has a market cap of $7,630.00, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.46 and a beta of 2.85.
Huntsman (NYSE:HUN) last posted its earnings results on Friday, October 27th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.17. Huntsman had a return on equity of 30.64% and a net margin of 5.37%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the prior year, the company earned $0.38 EPS. Huntsman’s revenue was up 18.5% on a year-over-year basis. research analysts anticipate that Huntsman will post 2.72 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Thursday, December 14th. Huntsman’s dividend payout ratio is currently 29.07%.
In other Huntsman news, insider Monte G. Edlund sold 21,493 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $31.99, for a total value of $687,561.07. Following the sale, the insider now owns 75,771 shares of the company’s stock, valued at approximately $2,423,914.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP J Kimo Esplin sold 240,793 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $30.99, for a total value of $7,462,175.07. Following the completion of the sale, the vice president now directly owns 528,889 shares in the company, valued at approximately $16,390,270.11. The disclosure for this sale can be found here. Insiders sold a total of 23,061,783 shares of company stock worth $512,316,794 in the last ninety days. 19.00% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of Huntsman during the 3rd quarter worth about $828,000. Algert Global LLC acquired a new stake in shares of Huntsman during the 3rd quarter worth about $2,480,000. California Public Employees Retirement System raised its position in shares of Huntsman by 6.2% during the 3rd quarter. California Public Employees Retirement System now owns 581,447 shares of the basic materials company’s stock worth $15,943,000 after acquiring an additional 33,947 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Huntsman during the 3rd quarter worth about $642,000. Finally, Point72 Asset Management L.P. raised its position in shares of Huntsman by 243.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,824,233 shares of the basic materials company’s stock worth $77,440,000 after acquiring an additional 2,001,233 shares in the last quarter. 75.47% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Huntsman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntsman and related companies with Analyst Ratings Network's FREE daily email newsletter.