Wells Fargo & Company Cuts Huntsman (NYSE:HUN) Price Target to $11.00

Huntsman (NYSE:HUN) had its target price cut by Wells Fargo & Company from $14.00 to $11.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

Several other analysts have also recently commented on HUN. Bank of America lifted their target price on shares of Huntsman from $10.00 to $11.00 and gave the stock an “underperform” rating in a research note on Tuesday, June 30th. Morgan Stanley raised their price objective on Huntsman from $11.00 to $15.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Wall Street Zen upgraded Huntsman from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Royal Bank Of Canada reduced their target price on Huntsman from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Monday. Finally, Citigroup lifted their price target on Huntsman from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Huntsman presently has a consensus rating of “Hold” and an average target price of $12.83.

Huntsman Stock Performance

Shares of NYSE HUN opened at $10.15 on Tuesday. The company has a 50-day simple moving average of $12.28 and a 200-day simple moving average of $12.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.33 and a quick ratio of 0.75. The company has a market cap of $1.78 billion, a PE ratio of -9.76 and a beta of 0.70. Huntsman has a 12 month low of $7.30 and a 12 month high of $16.08.

Huntsman Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.0875 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.35 dividend on an annualized basis and a yield of 3.4%. Huntsman’s dividend payout ratio (DPR) is presently -33.65%.

Insider Transactions at Huntsman

In other news, CEO Peter R. Huntsman purchased 100,000 shares of the stock in a transaction on Monday, August 3rd. The stock was purchased at an average price of $9.81 per share, with a total value of $981,000.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Huntsman

A number of institutional investors have recently modified their holdings of HUN. Versant Capital Management Inc raised its holdings in Huntsman by 166.7% in the second quarter. Versant Capital Management Inc now owns 2,672 shares of the basic materials company’s stock valued at $28,000 after buying an additional 1,670 shares during the period. Global Retirement Partners LLC purchased a new stake in Huntsman during the second quarter worth approximately $45,000. Advisory Services Network LLC acquired a new stake in shares of Huntsman in the third quarter worth $58,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Huntsman by 121.7% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 6,751 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 3,706 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in shares of Huntsman by 1,005.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 6,514 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 5,925 shares during the period. Hedge funds and other institutional investors own 84.81% of the company’s stock.

About Huntsman

Huntsman Corporation is a global manufacturer and marketer of specialty chemicals with headquarters in The Woodlands, Texas. Founded in 1970 by entrepreneur Jon Huntsman Sr., the company has grown through strategic acquisitions and organic expansion to establish a broad portfolio of products serving diverse end markets. Huntsman maintains a presence in more than 30 countries, operating manufacturing facilities across North America, Europe, Asia-Pacific, Latin America and the Middle East.

The company organizes its operations into several core business segments, including Polyurethanes, Performance Products, Advanced Materials, and Textile Effects.