Huntsman Co. (NYSE:HUN – Get Free Report) 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.
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.
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