Huntsman (NYSE:HUN) Price Target Cut to $22.00 by Analysts at Wells Fargo & Company

Huntsman (NYSE:HUN) had its price objective lowered by Wells Fargo & Company from $25.00 to $22.00 in a research report report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the basic materials company’s stock.

Several other brokerages have also weighed in on HUN. Citigroup cut their target price on Huntsman from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Morgan Stanley cut their price objective on Huntsman from $24.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. UBS Group cut their price objective on Huntsman from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada cut their price objective on Huntsman from $23.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Thursday, December 19th. Finally, Alembic Global Advisors lowered Huntsman from an “overweight” rating to a “neutral” rating in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $21.88.

Huntsman Trading Up 1.4 %

Shares of HUN opened at $18.06 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 0.83 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $3.12 billion, a P/E ratio of -26.17 and a beta of 0.95. The stock’s fifty day simple moving average is $17.45 and its 200 day simple moving average is $20.14. Huntsman has a twelve month low of $15.67 and a twelve month high of $27.01.

Huntsman (NYSE:HUN) last issued its earnings results 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). The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Huntsman had a negative return on equity of 0.03% and a negative net margin of 1.99%. On average, equities research analysts forecast that Huntsman will post 0.05 earnings per share for the current year.

Huntsman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 5.54%. Huntsman’s dividend payout ratio is presently -144.93%.

Institutional Trading of Huntsman

Several large investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its stake in Huntsman by 10.3% in the third quarter. Principal Financial Group Inc. now owns 1,342,478 shares of the basic materials company’s stock worth $32,488,000 after purchasing an additional 124,841 shares in the last quarter. Bank of Montreal Can grew its stake in Huntsman by 152.7% in the third quarter. Bank of Montreal Can now owns 99,405 shares of the basic materials company’s stock worth $2,440,000 after purchasing an additional 60,072 shares in the last quarter. First Hawaiian Bank acquired a new position in Huntsman in the fourth quarter worth about $569,000. ING Groep NV acquired a new position in Huntsman in the third quarter worth about $5,317,000. Finally, Empowered Funds LLC grew its stake in Huntsman by 49.9% in the third quarter. Empowered Funds LLC now owns 31,783 shares of the basic materials company’s stock worth $769,000 after purchasing an additional 10,582 shares in the last quarter. 84.81% of the stock is currently owned by institutional investors and hedge funds.

About Huntsman

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.