Short Interest in Huntsman Corp. (HUN) Expands By 49.0%
Huntsman Corp. (NYSE:HUN) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 12,609,266 shares, a growth of 49.0% from the September 15th total of 8,463,614 shares. Based on an average trading volume of 4,350,885 shares, the days-to-cover ratio is currently 2.9 days. Currently, 6.4% of the shares of the company are short sold.
Several institutional investors have recently added to or reduced their stakes in HUN. Creative Planning boosted its position in Huntsman Corp. by 2.5% in the second quarter. Creative Planning now owns 8,270 shares of the company’s stock valued at $111,000 after buying an additional 200 shares during the period. Rational Advisors LLC acquired a new position in Huntsman Corp. during the second quarter valued at approximately $125,000. OMERS ADMINISTRATION Corp acquired a new position in Huntsman Corp. during the first quarter valued at approximately $137,000. HighTower Advisors LLC acquired a new position in Huntsman Corp. during the second quarter valued at approximately $142,000. Finally, Loomis Sayles & Co. L P acquired a new position in Huntsman Corp. during the first quarter valued at approximately $148,000. Institutional investors own 67.25% of the company’s stock.
Shares of Huntsman Corp. (NYSE:HUN) opened at 15.88 on Monday. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 18.95 and a beta of 2.65. Huntsman Corp. has a 12 month low of $7.46 and a 12 month high of $18.12. The firm’s 50 day moving average is $16.08 and its 200 day moving average is $15.29.
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Huntsman Corp. (NYSE:HUN) last released its earnings results on Wednesday, July 27th. The company reported $0.53 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. The company earned $2.54 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Huntsman Corp. had a return on equity of 26.60% and a net margin of 2.05%. The business’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS. On average, equities analysts predict that Huntsman Corp. will post $1.68 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Tuesday, September 13th. Huntsman Corp.’s dividend payout ratio (DPR) is currently 59.52%.
A number of brokerages have recently commented on HUN. Jefferies Group reaffirmed a “buy” rating on shares of Huntsman Corp. in a report on Monday, August 22nd. Zacks Investment Research cut shares of Huntsman Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 24th. Citigroup Inc. lifted their target price on shares of Huntsman Corp. from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, July 15th. Finally, Nomura reaffirmed a “buy” rating on shares of Huntsman Corp. in a report on Tuesday, July 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $16.43.
About Huntsman Corp.
Huntsman Corporation is a manufacturer of differentiated organic chemical products and of inorganic chemical products. The Company operates all of its businesses through its subsidiary, Huntsman International LLC (Huntsman International). It operates in five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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