Huntsman (NYSE:HUN) Trading 5.4% Higher – Time to Buy?

Huntsman Corporation (NYSE:HUN) was up 5.4% during trading on Wednesday . The company traded as high as $11.57 and last traded at $11.5670. Approximately 1,709,268 shares changed hands during trading, a decline of 73% from the average session volume of 6,369,631 shares. The stock had previously closed at $10.97.

Analysts Set New Price Targets

Several research firms recently weighed in on HUN. Mizuho reduced their price target on shares of Huntsman from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Royal Bank Of Canada boosted their target price on shares of Huntsman from $14.00 to $15.00 and gave the company a “sector perform” rating in a research note on Monday, May 4th. Wells Fargo & Company increased their target price on shares of Huntsman from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Morgan Stanley raised their price target on shares of Huntsman from $11.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings upgraded Huntsman from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.75.

Huntsman Stock Up 4.6%

The firm has a market capitalization of $2.01 billion, a P/E ratio of -5.97 and a beta of 0.69. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.75 and a current ratio of 1.27. The stock has a 50 day moving average of $13.53 and a 200-day moving average of $12.63.

Huntsman (NYSE:HUN) last issued its earnings results on Thursday, April 30th. The basic materials company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. Huntsman had a negative net margin of 5.83% and a negative return on equity of 4.60%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the business earned ($0.11) earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. Research analysts predict that Huntsman Corporation will post -0.24 earnings per share for the current fiscal year.

Huntsman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Monday, June 15th. Huntsman’s payout ratio is currently -18.23%.

Institutional Investors Weigh In On Huntsman

Several institutional investors have recently made changes to their positions in HUN. Strategic Advocates LLC purchased a new position in shares of Huntsman in the third quarter valued at $27,000. Versant Capital Management Inc lifted its holdings in Huntsman by 166.7% during the 2nd quarter. Versant Capital Management Inc now owns 2,672 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 1,670 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Huntsman during the 3rd quarter worth about $58,000. Caitong International Asset Management Co. Ltd boosted its stake in 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 worth $61,000 after purchasing an additional 3,706 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in Huntsman by 1,005.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 6,514 shares of the basic materials company’s stock valued at $65,000 after buying an additional 5,925 shares in the last quarter. 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.