Huntsman Co. (HUN) to Issue Quarterly Dividend of $0.16 on September 28th
Huntsman Co. (NYSE:HUN) announced a quarterly dividend on Thursday, August 9th, RTT News reports. Stockholders of record on Friday, September 14th will be paid a dividend of 0.1625 per share by the basic materials company on Friday, September 28th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Thursday, September 13th.
Huntsman has a payout ratio of 18.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Huntsman to earn $3.64 per share next year, which means the company should continue to be able to cover its $0.65 annual dividend with an expected future payout ratio of 17.9%.
Shares of Huntsman stock opened at $29.12 on Friday. Huntsman has a 12-month low of $26.59 and a 12-month high of $36.09. The stock has a market capitalization of $7.04 billion, a PE ratio of 11.74, a PEG ratio of 0.98 and a beta of 2.73. The company has a current ratio of 1.93, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.
Huntsman announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the basic materials company to purchase up to 13.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
HUN has been the topic of a number of recent analyst reports. UBS Group increased their price target on shares of Huntsman from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, May 29th. Zacks Investment Research downgraded shares of Huntsman from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 31st. Citigroup increased their price target on shares of Huntsman from $42.50 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 11th. Royal Bank of Canada initiated coverage on shares of Huntsman in a report on Wednesday, July 18th. They issued an “outperform” rating and a $37.00 price target on the stock. Finally, Seaport Global Securities started coverage on shares of Huntsman in a report on Friday, August 24th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $37.46.
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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