Huntsman Target of Unusually Large Options Trading (HUN)
Huntsman Co. (NYSE:HUN) was the target of some unusual options trading on Monday. Traders acquired 5,519 put options on the stock. This represents an increase of approximately 1,746% compared to the average volume of 299 put options.
Institutional investors and hedge funds have recently modified their holdings of the company. FTB Advisors Inc. purchased a new stake in shares of Huntsman in the second quarter worth about $114,000. C M Bidwell & Associates Ltd. purchased a new position in Huntsman during the first quarter worth approximately $123,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Huntsman during the second quarter worth approximately $122,000. Point72 Asia Hong Kong Ltd boosted its position in Huntsman by 383.2% during the first quarter. Point72 Asia Hong Kong Ltd now owns 4,803 shares of the basic materials company’s stock worth $140,000 after purchasing an additional 3,809 shares in the last quarter. Finally, KBC Group NV purchased a new position in Huntsman during the first quarter worth approximately $155,000. Hedge funds and other institutional investors own 77.15% of the company’s stock.
Shares of HUN opened at $28.09 on Wednesday. Huntsman has a 52 week low of $26.59 and a 52 week high of $36.09. The company has a current ratio of 1.93, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $6.92 billion, a PE ratio of 11.35, a P/E/G ratio of 0.96 and a beta of 2.74.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be paid a $0.1625 dividend. The ex-dividend date is Thursday, September 13th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 2.31%. Huntsman’s payout ratio is 26.21%.
Several research firms have weighed in on HUN. MED reiterated a “buy” rating on shares of Huntsman in a research note on Monday, September 17th. Zacks Investment Research downgraded Huntsman from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 31st. UBS Group boosted their price target on Huntsman from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, May 29th. Morgan Stanley began coverage on Huntsman in a research note on Tuesday. They set an “equal weight” rating and a $30.00 price target on the stock. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $38.00 price target on shares of Huntsman in a research note on Wednesday, August 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. Huntsman presently has an average rating of “Buy” and an average price target of $37.15.
Huntsman Company Profile
Huntsman Corporation, through its subsidiary, Huntsman International LLC, manufactures and sells differentiated organic chemical products worldwide. The company operates in four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.
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