Tudor Pickering Begins Coverage on Huntsman (HUN)
Tudor Pickering assumed coverage on shares of Huntsman (NYSE:HUN) in a research note published on Friday, The Fly reports. The brokerage issued a buy rating on the basic materials company’s stock.
Several other brokerages also recently commented on HUN. JPMorgan Chase & Co. assumed coverage on Huntsman in a research note on Wednesday, December 13th. They set an overweight rating and a $36.00 price objective on the stock. Goldman Sachs Group reaffirmed a hold rating and set a $36.00 price objective on shares of Huntsman in a research note on Monday, December 4th. ValuEngine downgraded Huntsman from a strong-buy rating to a buy rating in a research note on Friday, December 15th. UBS Group raised their price objective on Huntsman from $32.00 to $35.00 and gave the stock a buy rating in a research note on Monday, October 30th. Finally, Nomura raised their price objective on Huntsman to $40.00 and gave the stock a buy rating in a research note on Monday, October 30th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $33.00.
Shares of Huntsman (HUN) traded up $0.50 during trading on Friday, reaching $34.78. The company had a trading volume of 2,847,256 shares, compared to its average volume of 1,642,855. The firm has a market cap of $8,227.48, a P/E ratio of 16.33, a PEG ratio of 1.71 and a beta of 2.85. Huntsman has a twelve month low of $19.57 and a twelve month high of $35.02. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.87 and a quick ratio of 1.52.
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Thursday, December 14th. Huntsman’s dividend payout ratio is 23.47%.
In other Huntsman news, insider Monte G. Edlund sold 21,493 shares of Huntsman 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alvin V. Shoemaker sold 38,009 shares of Huntsman stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $31.28, for a total value of $1,188,921.52. Following the completion of the sale, the director now directly owns 37,227 shares in the company, valued at approximately $1,164,460.56. The disclosure for this sale can be found here. Insiders sold a total of 25,210,738 shares of company stock worth $561,179,159 in the last three months. Company insiders own 19.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in shares of Huntsman by 58.6% in the second quarter. Royal Bank of Canada now owns 398,112 shares of the basic materials company’s stock valued at $10,287,000 after acquiring an additional 147,090 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Huntsman by 20.4% in the third quarter. Principal Financial Group Inc. now owns 5,792,566 shares of the basic materials company’s stock valued at $158,832,000 after acquiring an additional 983,408 shares during the last quarter. Rational Advisors LLC acquired a new stake in shares of Huntsman in the third quarter valued at about $269,000. JPMorgan Chase & Co. increased its position in shares of Huntsman by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 5,466,615 shares of the basic materials company’s stock valued at $149,566,000 after acquiring an additional 75,590 shares during the last quarter. Finally, IndexIQ Advisors LLC increased its position in shares of Huntsman by 20.5% in the third quarter. IndexIQ Advisors LLC now owns 944,235 shares of the basic materials company’s stock valued at $25,891,000 after acquiring an additional 160,547 shares during the last quarter. 75.45% of the stock is currently owned by hedge funds and other institutional investors.
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 MarketBeat.com's FREE daily email newsletter.