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Huntsman Co. (NYSE:HUN) is seeing a large drop in short interest

Huntsman Co. (NYSE:HUN – Get Free Report ) saw a significant drop in short interest in September. As of September 15th, there was short interest totaling 3,890,000 shares, down 5.8% from the August 31st total of 4,130,000 shares. Based on an average daily trading volume of 1,970,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.4% of the stock’s shares are short sold.

The Wall Street analyst weighs in

Several analysts recently weighed in on the stock. Citigroup decreased their target price on shares of Huntsman from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. UBS Group decreased their price objective on Huntsman from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Wells Fargo & Company cut their price target on Huntsman from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on Huntsman from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Royal Bank of Canada cut their price target on shares of Huntsman from $30.00 to $21.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th . One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Huntsman has an average rating of “Hold” and an average target price of $25.56, according to MarketBeat data.

Get the latest stock report on HUN

Institutional investors are weighing on Huntsman

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Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in Huntsman by 1.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 6,657,819 shares of the basic materials company’s stock valued at $151,599,000 after acquiring an additional 97,082 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Huntsman by 5.2% in the second quarter. Millennium Management LLC now owns 4,891,928 shares of the basic materials company’s stock valued at $111,389,000 after purchasing an additional 243,821 shares in the last quarter. 1832 Asset Management LP grew its position in shares of Huntsman by 54.0% during the second quarter. 1832 Asset Management LP now owns 4,415,264 shares of the basic materials company’s stock worth $100,536,000 after purchasing an additional 1,547,344 shares during the period. Wellington Management Group LLP boosted its stake in shares of Huntsman by 75.9% during the fourth quarter. Wellington Management Group LLP now owns 3,151,535 shares of the basic materials company’s stock worth $79,198,000 after buying an additional 1,359,437 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Huntsman by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,408,592 shares of the basic materials company’s stock worth $62,697,000 after buying an additional 203,396 shares during the last quarter. Institutional investors own 84.81% of the company’s shares.

Huntsman price performance

Shares of Huntsman stock traded down $0.30 during trading on Monday, reaching $24.25. The company’s stock had a trading volume of 174,111 shares, compared to its average volume of 1,924,446. The stock has a 50 day moving average price of $22.03 and a two hundred day moving average price of $23.44. The stock has a market cap of $4.20 billion, a P/E ratio of -47.21 and a beta of 1.00. The company has a current ratio of 1.30, a quick ratio of 0.77, and a debt-to-equity ratio of 0.40. Huntsman has a one year low of $19.91 and a one year high of $27.01.

Huntsman (NYSE:HUN – Get Free Report ) last announced its earnings results on Monday, August 5th. The basic materials company reported $0.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.14. Huntsman had a negative net margin of 1.44% and a positive return on equity of 0.26%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.61 billion. In the same period last year, the firm posted earnings of $0.22 per share. The company’s revenue was down 1.4% year over year. As a group, sell-side analysts anticipate that Huntsman will post 0.2 EPS for the current fiscal year.

Huntsman Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 13. This represents a dividend of $1.00 on an annualized basis and a yield of 4.12%. Huntsman’s payout ratio is -192.31%.

Huntsman Company Profile

(Get a free report)

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 coproducts.

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