Huntsman (NYSE:HUN) Trading 6.7% Higher - Here's What Happened

Huntsman Co. (NYSE:HUN - Get Free Report) shares traded up 6.7% on Wednesday . The company traded as high as $17.76 and last traded at $17.11. 1,030,705 shares were traded during mid-day trading, a decline of 49% from the average session volume of 2,038,220 shares. The stock had previously closed at $16.04.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Citigroup dropped their target price on Huntsman from $22.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. Mizuho dropped their target price on Huntsman from $23.00 to $21.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their target price on Huntsman from $25.00 to $22.00 and set an "overweight" rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company lowered their price target on Huntsman from $25.00 to $22.00 and set an "overweight" rating for the company in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group lowered their price target on Huntsman from $22.00 to $19.00 and set a "sell" rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $20.50.

Huntsman Stock Down 2.7 %

The stock has a market cap of $3.00 billion, a P/E ratio of -15.75 and a beta of 0.95. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.48. The business has a 50-day simple moving average of $17.17 and a 200-day simple moving average of $19.84.

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Huntsman (NYSE:HUN - Get Free Report) last posted its quarterly earnings data on Monday, February 17th. The basic materials company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.18). Huntsman had a negative net margin of 3.13% and a negative return on equity of 0.39%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.45 billion. Analysts expect that Huntsman Co. will post 0.32 EPS for the current year.

Huntsman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 5.77%. Huntsman's dividend payout ratio is -90.91%.

Institutional Investors Weigh In On Huntsman

Several hedge funds have recently modified their holdings of the business. Jefferies Financial Group Inc. boosted its position in shares of Huntsman by 4,078.9% in the fourth quarter. Jefferies Financial Group Inc. now owns 500,000 shares of the basic materials company's stock valued at $9,015,000 after acquiring an additional 488,035 shares during the period. Mackenzie Financial Corp raised its stake in shares of Huntsman by 150.2% in the fourth quarter. Mackenzie Financial Corp now owns 30,912 shares of the basic materials company's stock valued at $557,000 after purchasing an additional 18,555 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Huntsman by 15.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 597,715 shares of the basic materials company's stock valued at $10,777,000 after purchasing an additional 81,481 shares in the last quarter. Voloridge Investment Management LLC raised its stake in shares of Huntsman by 289.8% in the fourth quarter. Voloridge Investment Management LLC now owns 190,139 shares of the basic materials company's stock valued at $3,428,000 after purchasing an additional 141,356 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Huntsman by 30.6% in the fourth quarter. Two Sigma Advisers LP now owns 741,700 shares of the basic materials company's stock valued at $13,373,000 after purchasing an additional 173,800 shares in the last quarter. 84.81% of the stock is owned by institutional investors.

Huntsman Company Profile

Huntsman Corporation manufactures and sells diversified organic chemical products worldwide. The company operates in 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; and aniline, benzene, nitrobenzene and other co-products.