Huntsman (NYSE:HUN) Cut to “Underweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Huntsman (NYSE:HUNGet Rating) from a neutral rating to an underweight rating in a research note published on Tuesday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has $25.00 price objective on the basic materials company’s stock, down from their prior price objective of $30.00.

HUN has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft dropped their price target on Huntsman from $40.00 to $35.00 in a research report on Wednesday, August 3rd. Royal Bank of Canada lowered shares of Huntsman from an outperform rating to a sector perform rating and dropped their price objective for the stock from $43.00 to $30.00 in a research note on Monday. Wells Fargo & Company lowered shares of Huntsman from an overweight rating to an equal weight rating and lowered their target price for the stock from $35.00 to $28.00 in a report on Monday. UBS Group downgraded shares of Huntsman from a buy rating to a neutral rating and set a $40.00 price target on the stock. in a report on Wednesday, August 3rd. Finally, Bank of America lowered Huntsman from a buy rating to an underperform rating and dropped their target price for the company from $45.00 to $34.00 in a research report on Tuesday, June 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $40.00.

Huntsman Stock Performance

Shares of NYSE HUN opened at $24.66 on Tuesday. The company has a market cap of $4.97 billion, a P/E ratio of 4.24, a P/E/G ratio of 1.08 and a beta of 1.15. Huntsman has a 52-week low of $24.31 and a 52-week high of $41.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 2.12. The firm’s fifty day moving average is $28.44 and its two-hundred day moving average is $32.17.

Huntsman (NYSE:HUNGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The basic materials company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.14. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Huntsman had a return on equity of 22.23% and a net margin of 13.45%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. As a group, analysts anticipate that Huntsman will post 4.06 EPS for the current fiscal year.

Huntsman Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.2125 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.85 annualized dividend and a yield of 3.45%. Huntsman’s dividend payout ratio (DPR) is presently 14.63%.

Insider Activity

In related news, Director Curtis E. Espeland acquired 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were bought at an average price of $30.18 per share, with a total value of $452,700.00. Following the completion of the transaction, the director now directly owns 18,533 shares in the company, valued at $559,325.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Curtis E. Espeland purchased 15,000 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were acquired at an average cost of $30.18 per share, with a total value of $452,700.00. Following the completion of the acquisition, the director now owns 18,533 shares of the company’s stock, valued at $559,325.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP David M. Stryker acquired 10,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The shares were acquired at an average price of $29.90 per share, with a total value of $299,000.00. Following the acquisition, the vice president now owns 341,614 shares in the company, valued at approximately $10,214,258.60. The disclosure for this purchase can be found here. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Huntsman

A number of large investors have recently modified their holdings of the business. Starboard Value LP increased its stake in Huntsman by 55.4% during the 4th quarter. Starboard Value LP now owns 18,026,236 shares of the basic materials company’s stock valued at $628,755,000 after purchasing an additional 6,428,092 shares in the last quarter. First Trust Advisors LP increased its position in shares of Huntsman by 773.3% in the 1st quarter. First Trust Advisors LP now owns 7,122,627 shares of the basic materials company’s stock valued at $267,170,000 after acquiring an additional 6,307,003 shares during the period. Westwood Holdings Group Inc. raised its stake in Huntsman by 409.6% in the 4th quarter. Westwood Holdings Group Inc. now owns 2,735,693 shares of the basic materials company’s stock worth $95,420,000 after acquiring an additional 2,198,907 shares during the last quarter. Invesco Ltd. lifted its position in Huntsman by 69.8% during the 1st quarter. Invesco Ltd. now owns 4,556,712 shares of the basic materials company’s stock worth $170,921,000 after acquiring an additional 1,873,388 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Huntsman by 280.2% in the second quarter. AQR Capital Management LLC now owns 1,738,365 shares of the basic materials company’s stock valued at $48,918,000 after purchasing an additional 1,281,161 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

About Huntsman

(Get Rating)

Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates through 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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