Huntsman (NYSE:HUN) Lowered to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada downgraded shares of Huntsman (NYSE:HUNGet Rating) from an outperform rating to a sector perform rating in a research note published on Monday, The Fly reports. They currently have $30.00 price objective on the basic materials company’s stock, down from their prior price objective of $43.00.

A number of other research analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Huntsman from $40.00 to $35.00 in a research note on Wednesday, August 3rd. Bank of America downgraded shares of Huntsman from a buy rating to an underperform rating and cut their price target for the company from $45.00 to $34.00 in a report on Tuesday, June 14th. Wells Fargo & Company cut their price target on shares of Huntsman from $42.00 to $35.00 and set an overweight rating for the company in a report on Wednesday, June 22nd. UBS Group downgraded shares of Huntsman from a buy rating to a neutral rating and set a $40.00 price target for the company. in a report on Wednesday, August 3rd. Finally, Credit Suisse Group started coverage on shares of Huntsman in a report on Monday, September 12th. They issued an outperform rating and a $33.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $41.57.

Huntsman Stock Up 0.4 %

Huntsman stock opened at $25.79 on Monday. Huntsman has a 1-year low of $24.87 and a 1-year high of $41.65. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 4.44, a P/E/G ratio of 1.04 and a beta of 1.15. The company has a current ratio of 2.12, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. The firm has a 50 day simple moving average of $28.69 and a 200 day simple moving average of $32.35.

Huntsman (NYSE:HUNGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The basic materials company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.14. Huntsman had a net margin of 13.45% and a return on equity of 22.23%. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the business earned $0.86 EPS. Huntsman’s revenue was up 16.7% compared to the same quarter last year. On average, analysts predict that Huntsman will post 4.29 earnings per share for the current year.

Huntsman Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Wednesday, September 14th. Huntsman’s dividend payout ratio is presently 14.63%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new stake in Huntsman during the first quarter valued at approximately $30,000. Ellevest Inc. increased its stake in shares of Huntsman by 369.0% in the first quarter. Ellevest Inc. now owns 802 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 631 shares in the last quarter. Bourgeon Capital Management LLC purchased a new position in Huntsman during the first quarter valued at $38,000. CWM LLC grew its stake in Huntsman by 45.3% during the first quarter. CWM LLC now owns 1,136 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 354 shares in the last quarter. Finally, CoreCap Advisors LLC purchased a new position in Huntsman during the second quarter valued at $34,000. Institutional investors own 87.62% of the company’s stock.

Huntsman Company Profile

(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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