Huntsman Corporation (NYSE:HUN) Shareholders Set to Receive $0.09 Quarterly Dividend

Huntsman Corporation (NYSE:HUN) declared a quarterly dividend on Wednesday, November 11th. Shareholders of record on Friday, November 27th will be paid a dividend of $0.0875 per share by the basic materials company on Friday, December 11th. This represents a $0.35 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, November 27th.

Huntsman has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Huntsman has a payout ratio of 134.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Huntsman to earn $0.04 per share next year, which means the company may not be able to cover its $0.35 annual dividend with an expected future payout ratio of 875.0%.

Huntsman Stock Up 2.9%

Shares of HUN opened at $9.78 on Thursday. The stock has a fifty day moving average of $9.01 and a 200-day moving average of $11.60. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.80 and a current ratio of 1.35. Huntsman has a 52 week low of $7.99 and a 52 week high of $16.08. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -9.78 and a beta of 0.73.

Huntsman (NYSE:HUN) last issued its quarterly earnings results on Monday, November 2nd. The basic materials company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). Huntsman had a negative net margin of 2.81% and a negative return on equity of 3.11%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company posted ($0.03) EPS. The company’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Huntsman will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Huntsman

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Huntsman in the second quarter worth $193,750,000. Dimensional Fund Advisors LP raised its stake in shares of Huntsman by 16.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,950,777 shares of the basic materials company’s stock valued at $92,509,000 after purchasing an additional 1,003,187 shares during the period. Pzena Investment Management LLC bought a new stake in shares of Huntsman during the 2nd quarter valued at $54,817,000. Private Management Group Inc. purchased a new stake in Huntsman during the 3rd quarter worth about $27,935,000. Finally, Bank of America Corp DE purchased a new stake in Huntsman during the 2nd quarter worth about $23,596,000. 84.81% of the stock is owned by hedge funds and other institutional investors.

Huntsman Company Profile

Huntsman Corporation is a global chemicals manufacturer that produces differentiated and specialty chemical products for industrial and consumer markets. Its products include polyurethane chemicals, epoxy and other advanced materials, and performance chemicals used in applications such as insulation, coatings, adhesives, construction, transportation, textiles, and electronics. Founded by Jon Huntsman Sr. in 1970, the company began as a plastics and packaging business before expanding into chemicals.