Huntsman’s (HUN) Hold Rating Reiterated at Citigroup

Citigroup restated their hold rating on shares of Huntsman (NYSE:HUN) in a report released on Tuesday, Marketbeat Ratings reports. The firm currently has a $11.00 price objective on the basic materials company’s stock.

Several other research firms have also commented on HUN. Jefferies Financial Group set a $16.00 price objective on shares of Huntsman in a research note on Friday, July 31st. KeyCorp started coverage on shares of Huntsman in a research note on Friday, September 11th. They set an “overweight” rating and a $14.00 target price for the company. Wells Fargo & Company lowered their target price on shares of Huntsman from $14.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, August 4th. Mizuho dropped their price target on Huntsman from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 1st. Finally, UBS Group reduced their price objective on Huntsman from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.23.

Huntsman Stock Performance

Shares of Huntsman stock opened at $9.12 on Tuesday. Huntsman has a 12 month low of $7.30 and a 12 month high of $16.08. The firm has a market capitalization of $1.60 billion, a P/E ratio of -8.77 and a beta of 0.70. The company has a current ratio of 1.33, a quick ratio of 0.78 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $10.49 and a two-hundred day simple moving average of $12.19.

Huntsman Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.0875 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.35 annualized dividend and a yield of 3.8%. Huntsman’s payout ratio is -33.65%.

Insider Activity

In other news, CEO Peter R. Huntsman bought 100,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were purchased at an average price of $9.81 per share, for a total transaction of $981,000.00. Following the completion of the purchase, the chief executive officer owned 7,256,341 shares in the company, valued at approximately $71,184,705.21. This represents a 1.40% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Huntsman

Several institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc grew its position in Huntsman by 166.7% in the 2nd quarter. Versant Capital Management Inc now owns 2,672 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 1,670 shares during the period. Nykredit A S bought a new position in shares of Huntsman during the 2nd quarter valued at $32,000. Global Retirement Partners LLC bought a new position in shares of Huntsman during the 2nd quarter valued at $45,000. Allworth Financial LP purchased a new position in shares of Huntsman in the 2nd quarter worth $52,000. Finally, Platinum Investment Management Ltd. purchased a new position in shares of Huntsman in the 4th quarter worth $68,000. Institutional investors own 84.81% of the company’s stock.

About Huntsman

Huntsman Corporation (NYSE:HUN) is a global manufacturer of differentiated chemicals and performance materials. The company supplies products used in construction, automotive, aerospace, electronics, energy, coatings, adhesives, footwear, and other industrial and consumer applications.

Huntsman’s principal offerings include polyurethane systems and polyurethane intermediates, epoxy and other advanced-materials solutions, amines, maleic anhydride, and specialty chemicals. Its materials are used to produce insulation, composites, coatings, adhesives, elastomers, and other products designed to improve durability, energy efficiency, weight, and performance.

Founded in 1970 by Jon M.