Huntsman (NYSE:HUN) Stock Moved Down to “Strong Sell” by Zacks Research

Zacks Research cut shares of Huntsman (NYSE:HUN) from a hold rating to a strong sell rating in a research report sent to investors on Monday morning,Zacks reports.

Several other equities analysts have also weighed in on HUN. KeyCorp initiated coverage on shares of Huntsman in a research report on Friday, September 11th. They set an “overweight” rating and a $14.00 price objective for the company. Mizuho reduced their target price on shares of Huntsman from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. UBS Group decreased their price target on shares of Huntsman from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $11.00 price target on shares of Huntsman in a report on Thursday, August 20th. Finally, Royal Bank Of Canada cut their price objective on Huntsman from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Huntsman has an average rating of “Hold” and a consensus target price of $11.29.

Huntsman Price Performance

NYSE:HUN opened at $8.15 on Monday. The company has a quick ratio of 0.78, a current ratio of 1.33 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average price is $9.37 and its 200 day moving average price is $11.77. Huntsman has a 52-week low of $7.30 and a 52-week high of $16.08. The firm has a market cap of $1.43 billion, a P/E ratio of -7.84 and a beta of 0.80.

Huntsman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 4.3%. The ex-dividend date was Tuesday, September 15th. Huntsman’s payout ratio is presently -33.65%.

Insider Transactions at Huntsman

In other news, CEO Peter R. Huntsman acquired 100,000 shares of Huntsman stock in a transaction on Monday, August 3rd. The stock was bought at an average cost of $9.81 per share, with a total value of $981,000.00. Following the completion of the purchase, the chief executive officer owned 7,256,341 shares of the company’s stock, valued at $71,184,705.21. This represents a 1.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Huntsman during the 2nd quarter worth about $193,750,000. Pzena Investment Management LLC purchased a new position in Huntsman during the 2nd quarter valued at about $54,817,000. Bank of America Corp DE acquired a new position in shares of Huntsman in the 2nd quarter valued at about $23,596,000. Bank of Nova Scotia acquired a new position in shares of Huntsman in the 2nd quarter valued at about $11,907,000. Finally, Man Group plc acquired a new position in shares of Huntsman in the 2nd quarter valued at about $11,485,000. 84.81% of the stock is owned by hedge funds and other institutional investors.

About Huntsman

Huntsman Corporation (NYSE:HUN) is a global manufacturer of differentiated and commodity chemical products. Founded in 1970, the company serves customers in industries including construction, automotive, aerospace, energy, electronics, coatings, adhesives, and consumer products.

Huntsman’s product portfolio includes polyurethane chemicals such as methylene diphenyl diisocyanate, or MDI, and polyols; performance chemicals including amines and maleic anhydride; and advanced materials such as epoxy-based formulations, adhesives, and composite materials.