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Huntsman Co. (NYSE:HUN) Sees Large Increase in Short Interest

Last updated on Sunday, November 22, 2020 | 2020 MarketBeat

Huntsman Co. (NYSE:HUN) was the target of a significant increase in short interest in the month of October. As of October 30th, there was short interest totalling 3,870,000 shares, an increase of 30.3% from the October 15th total of 2,970,000 shares. Based on an average daily volume of 1,720,000 shares, the days-to-cover ratio is presently 2.3 days. Approximately 2.0% of the shares of the stock are short sold.

NYSE HUN opened at $24.40 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.56 and a debt-to-equity ratio of 0.46. Huntsman has a 52 week low of $12.23 and a 52 week high of $26.58. The stock has a market capitalization of $5.38 billion, a PE ratio of 5.50, a price-to-earnings-growth ratio of 6.22 and a beta of 1.71. The firm has a 50 day moving average of $24.32 and a two-hundred day moving average of $20.61.

Huntsman (NYSE:HUN) last posted its quarterly earnings results on Thursday, October 29th. The basic materials company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.25 by $0.07. Huntsman had a net margin of 16.55% and a return on equity of 5.27%. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the previous year, the business posted $0.41 EPS. The firm's revenue was down 10.5% on a year-over-year basis. On average, equities research analysts expect that Huntsman will post 0.79 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be issued a $0.1625 dividend. This represents a $0.65 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, December 14th. Huntsman's payout ratio is 42.48%.

Several institutional investors have recently modified their holdings of HUN. Private Advisor Group LLC purchased a new position in Huntsman during the 2nd quarter worth $27,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Huntsman during the third quarter valued at approximately $35,000. Twin Tree Management LP purchased a new stake in shares of Huntsman during the second quarter valued at approximately $43,000. WASHINGTON TRUST Co purchased a new stake in shares of Huntsman during the second quarter valued at approximately $46,000. Finally, CI Investments Inc. bought a new stake in shares of Huntsman in the third quarter worth $47,000. Institutional investors and hedge funds own 75.43% of the company's stock.

Several brokerages have recently issued reports on HUN. Scotiabank upgraded shares of Huntsman from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the company from $22.00 to $29.00 in a research report on Friday, October 30th. Morgan Stanley raised shares of Huntsman from an "equal weight" rating to an "overweight" rating and set a $26.00 target price on the stock in a research note on Tuesday, September 29th. The Goldman Sachs Group lifted their target price on shares of Huntsman from $21.00 to $25.00 and gave the stock a "conviction-buy" rating in a research note on Monday, August 31st. TheStreet raised shares of Huntsman from a "c" rating to a "b-" rating in a research note on Tuesday, November 3rd. Finally, KeyCorp lifted their target price on shares of Huntsman from $29.00 to $32.00 and gave the stock an "overweight" rating in a research note on Friday, October 30th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of "Buy" and a consensus price target of $23.61.

About Huntsman

Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates in four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.

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