Huntsman Co. (NYSE:HUN) Announces Quarterly Dividend of $0.24

Huntsman Co. (NYSE:HUN) declared a quarterly dividend on Wednesday, August 2nd, RTT News reports. Investors of record on Friday, September 15th will be paid a dividend of 0.2375 per share by the basic materials company on Friday, September 29th. This represents a $0.95 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Thursday, September 14th.

Huntsman has raised its dividend by an average of 9.4% annually over the last three years and has raised its dividend every year for the last 3 years. Huntsman has a payout ratio of 47.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Huntsman to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.95 annual dividend with an expected future payout ratio of 52.8%.

Huntsman Trading Down 0.3 %

Shares of NYSE:HUN opened at $25.46 on Wednesday. Huntsman has a 12-month low of $23.52 and a 12-month high of $33.46. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $4.53 billion, a P/E ratio of 26.52 and a beta of 1.16. The firm has a fifty day moving average of $27.76 and a two-hundred day moving average of $26.97.

Huntsman (NYSE:HUN) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.08). The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Huntsman had a return on equity of 5.75% and a net margin of 2.64%. The firm’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same period last year, the business earned $1.28 earnings per share. On average, equities analysts expect that Huntsman will post 0.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on HUN shares. TheStreet lowered shares of Huntsman from a “b-” rating to a “c+” rating in a research note on Monday. Citigroup increased their price objective on Huntsman from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Bank of America cut their price objective on Huntsman from $24.00 to $22.00 in a research note on Thursday, June 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on Huntsman from $29.00 to $27.00 in a research report on Tuesday, June 20th. Finally, Morgan Stanley restated an “overweight” rating and issued a $30.00 price objective on shares of Huntsman in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.42.

Institutional Trading of Huntsman

Several institutional investors and hedge funds have recently modified their holdings of HUN. Comerica Bank bought a new stake in Huntsman during the 2nd quarter valued at $2,060,000. California State Teachers Retirement System raised its stake in shares of Huntsman by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 214,431 shares of the basic materials company’s stock valued at $5,794,000 after purchasing an additional 661 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in Huntsman by 411.9% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 44,190 shares of the basic materials company’s stock worth $1,194,000 after purchasing an additional 35,557 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in Huntsman by 22.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 456,917 shares of the basic materials company’s stock valued at $12,346,000 after buying an additional 83,915 shares in the last quarter. Finally, Cullen Capital Management LLC increased its position in shares of Huntsman by 10.4% during the second quarter. Cullen Capital Management LLC now owns 25,220 shares of the basic materials company’s stock valued at $681,000 after buying an additional 2,380 shares during the period. 83.44% of the stock is owned by hedge funds and other institutional investors.

Huntsman Company Profile

Huntsman Corporation manufactures and sells diversified organic chemical products worldwide. The company operates through three segments: Polyurethanes, Performance Products, and Advanced Materials. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyether and polyester polyols, and thermoplastic polyurethane.