Huntsman (NYSE:HUN) Shares Up 10.2% – Should You Buy?

Huntsman Corporation (NYSE:HUN) was up 10.2% during mid-day trading on Tuesday . The company traded as high as $12.57 and last traded at $12.6520. Approximately 2,884,015 shares changed hands during trading, a decline of 41% from the average daily volume of 4,854,014 shares. The stock had previously closed at $11.48.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price target on Huntsman from $20.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. The Goldman Sachs Group increased their target price on Huntsman from $8.50 to $9.50 and gave the stock a “sell” rating in a research report on Thursday, December 4th. Bank of America reissued an “underperform” rating and issued a $8.00 price target (down from $9.00) on shares of Huntsman in a research note on Tuesday, October 14th. UBS Group increased their price objective on shares of Huntsman from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. Finally, Citigroup boosted their target price on shares of Huntsman from $10.50 to $12.00 and gave the company a “neutral” rating in a report on Thursday, January 15th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Huntsman presently has an average rating of “Reduce” and an average price target of $11.00.

Huntsman Stock Performance

The company has a current ratio of 1.36, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average is $10.72 and its 200-day moving average is $9.97. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -6.83 and a beta of 0.70.

Huntsman (NYSE:HUN) last issued its earnings results on Thursday, November 6th. The basic materials company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. Huntsman had a negative net margin of 5.69% and a negative return on equity of 3.26%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 EPS. On average, analysts expect that Huntsman Corporation will post 0.32 EPS for the current year.

Huntsman Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a $0.0875 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.35 annualized dividend and a dividend yield of 2.7%. Huntsman’s dividend payout ratio is presently -18.42%.

Hedge Funds Weigh In On Huntsman

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. boosted its holdings in Huntsman by 2.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 44,574 shares of the basic materials company’s stock worth $446,000 after acquiring an additional 1,225 shares during the period. Foster Victor Wealth Advisors LLC grew its holdings in Huntsman by 8.9% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 16,335 shares of the basic materials company’s stock valued at $163,000 after purchasing an additional 1,332 shares in the last quarter. Yousif Capital Management LLC increased its stake in Huntsman by 12.6% during the 2nd quarter. Yousif Capital Management LLC now owns 12,390 shares of the basic materials company’s stock worth $129,000 after buying an additional 1,386 shares during the period. Kelleher Financial Advisors lifted its holdings in Huntsman by 5.7% in the 2nd quarter. Kelleher Financial Advisors now owns 26,908 shares of the basic materials company’s stock worth $280,000 after buying an additional 1,454 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Huntsman by 0.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 599,296 shares of the basic materials company’s stock worth $9,463,000 after acquiring an additional 1,581 shares during the last quarter. 84.81% of the stock is owned by institutional investors and hedge funds.

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.