Huntsman Co. (NYSE:HUN) Sees Significant Drop in Short Interest

Huntsman Co. (NYSE:HUN - Get Free Report) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 4,400,000 shares, a drop of 12.5% from the September 30th total of 5,030,000 shares. Based on an average trading volume of 1,820,000 shares, the days-to-cover ratio is presently 2.4 days. Approximately 2.7% of the company's shares are sold short.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised their target price on shares of Huntsman from $21.00 to $24.00 and gave the stock a "sector perform" rating in a research report on Friday, October 11th. UBS Group reduced their target price on shares of Huntsman from $23.00 to $22.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Company reduced their target price on shares of Huntsman from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Huntsman from $27.00 to $25.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Huntsman has an average rating of "Hold" and a consensus price target of $25.75.

Huntsman Stock Down 1.8 %

HUN stock traded down $0.40 during trading on Tuesday, hitting $22.23. 1,486,636 shares of the company's stock traded hands, compared to its average volume of 1,870,113. The firm has a market capitalization of $3.84 billion, a P/E ratio of -42.75 and a beta of 1.00. The business has a fifty day simple moving average of $22.69 and a two-hundred day simple moving average of $23.14. The company has a quick ratio of 0.77, a current ratio of 1.30 and a debt-to-equity ratio of 0.40. Huntsman has a 1 year low of $19.91 and a 1 year high of $27.01.

Huntsman (NYSE:HUN - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.61 billion. Huntsman had a negative net margin of 1.44% and a positive return on equity of 0.26%. Huntsman's revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.22 earnings per share. Sell-side analysts anticipate that Huntsman will post 0.19 EPS for the current year.

Huntsman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend was Friday, September 13th. Huntsman's dividend payout ratio is currently -192.31%.

Hedge Funds Weigh In On Huntsman

Several institutional investors and hedge funds have recently bought and sold shares of HUN. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Huntsman by 25.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 76,812 shares of the basic materials company's stock worth $1,999,000 after purchasing an additional 15,379 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Huntsman by 30.6% in the first quarter. BNP Paribas Financial Markets now owns 202,564 shares of the basic materials company's stock worth $5,273,000 after purchasing an additional 47,449 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in Huntsman in the first quarter worth $45,000. Nikko Asset Management Americas Inc. lifted its stake in shares of Huntsman by 25.0% during the first quarter. Nikko Asset Management Americas Inc. now owns 76,812 shares of the basic materials company's stock worth $1,999,000 after buying an additional 15,379 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Huntsman during the first quarter worth $1,428,000. 84.81% 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 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.

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