Huntsman (NYSE:HUN) Reaches New 52-Week Low - Here's What Happened

Huntsman Corporation (NYSE:HUN - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $10.13 and last traded at $10.42, with a volume of 279069 shares changing hands. The stock had previously closed at $10.28.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Huntsman from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. UBS Group reduced their target price on shares of Huntsman from $18.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, April 7th. The Goldman Sachs Group lowered their price target on Huntsman from $19.00 to $13.50 and set a "sell" rating on the stock in a research report on Tuesday, May 6th. Wall Street Zen cut shares of Huntsman from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Finally, Bank of America cut Huntsman from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $22.00 to $15.00 in a report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $15.00.

Huntsman Stock Down 0.4%

The firm has a 50-day moving average price of $12.05 and a 200 day moving average price of $15.23. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -11.25 and a beta of 0.73. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.48 and a quick ratio of 0.82.

Huntsman (NYSE:HUN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported ($0.11) EPS for the quarter, hitting analysts' consensus estimates of ($0.11). The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.51 billion. Huntsman had a negative net margin of 2.63% and a negative return on equity of 0.65%. Huntsman's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) earnings per share. Sell-side analysts predict that Huntsman Corporation will post 0.32 EPS for the current year.

Huntsman Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.77%. The ex-dividend date of this dividend is Friday, June 13th. Huntsman's payout ratio is presently -109.89%.

Institutional Trading of Huntsman

Several large investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in shares of Huntsman by 345.7% in the 1st quarter. AQR Capital Management LLC now owns 9,926,971 shares of the basic materials company's stock valued at $151,982,000 after purchasing an additional 7,699,922 shares in the last quarter. Pzena Investment Management LLC grew its position in Huntsman by 320.2% in the fourth quarter. Pzena Investment Management LLC now owns 4,695,678 shares of the basic materials company's stock valued at $84,663,000 after acquiring an additional 3,578,100 shares during the last quarter. Nomura Holdings Inc. lifted its holdings in shares of Huntsman by 188.3% in the fourth quarter. Nomura Holdings Inc. now owns 3,269,000 shares of the basic materials company's stock worth $58,940,000 after acquiring an additional 2,135,000 shares during the last quarter. Norges Bank acquired a new stake in shares of Huntsman in the 4th quarter valued at approximately $37,464,000. Finally, Deprince Race & Zollo Inc. grew its holdings in shares of Huntsman by 70.2% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,762,907 shares of the basic materials company's stock valued at $49,815,000 after purchasing an additional 1,139,549 shares during the last quarter. Institutional investors and hedge funds own 84.81% of the company's stock.

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.

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