Huntsman (NYSE:HUN) Shares Gap Down – What’s Next?

Huntsman Co. (NYSE:HUN)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $17.44, but opened at $17.08. Huntsman shares last traded at $17.00, with a volume of 442,385 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price target on Huntsman from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. The Goldman Sachs Group decreased their price target on shares of Huntsman from $22.00 to $19.00 and set a “sell” rating on the stock in a report on Wednesday, March 5th. Alembic Global Advisors cut Huntsman from an “overweight” rating to a “neutral” rating in a report on Wednesday, January 15th. 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 report on Monday, January 13th. Finally, Wells Fargo & Company dropped their target price on shares of Huntsman from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.50.

Huntsman Stock Performance

The company has a 50-day moving average price of $17.14 and a 200-day moving average price of $19.62. 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 firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -15.42 and a beta of 0.95.

Huntsman (NYSE:HUN) last issued its quarterly earnings data on Monday, February 17th. The basic materials company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.45 billion. Huntsman had a negative net margin of 3.13% and a negative return on equity of 0.39%. As a group, equities research analysts forecast that Huntsman Co. will post 0.32 earnings per share for the current year.

Huntsman Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.90%. The ex-dividend date is Friday, March 14th. Huntsman’s dividend payout ratio (DPR) is presently -90.91%.

Hedge Funds Weigh In On Huntsman

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Huntsman by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 16,482,011 shares of the basic materials company’s stock valued at $297,171,000 after buying an additional 130,702 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Huntsman by 6.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,686,557 shares of the basic materials company’s stock valued at $102,529,000 after purchasing an additional 349,502 shares in the last quarter. Pzena Investment Management LLC grew its stake in shares of Huntsman by 320.2% in the 4th quarter. Pzena Investment Management LLC now owns 4,695,678 shares of the basic materials company’s stock worth $84,663,000 after purchasing an additional 3,578,100 shares during the last quarter. State Street Corp raised its holdings in shares of Huntsman by 2.2% in the 3rd quarter. State Street Corp now owns 3,301,850 shares of the basic materials company’s stock worth $79,905,000 after purchasing an additional 70,382 shares in the last quarter. Finally, Nomura Holdings Inc. lifted its stake in Huntsman by 188.3% during the fourth quarter. Nomura Holdings Inc. now owns 3,269,000 shares of the basic materials company’s stock valued at $58,940,000 after purchasing an additional 2,135,000 shares during the last quarter. 84.81% of the stock is owned by institutional investors.

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.