Huntsman Corporation (NYSE: HUN) reported change of 0.19% to $32.32 with the recent traded volume of 2313337 shares compared to an average volume of 3.01M. The stock was down in last five days period with -0.95%. The one month performance of stock was 8.46%. HUN shares are at -2.83% for the quarter and driving a 30.59% return over the course of the past year and is now at -2.91% since this point in 2018. The stock beta value is 2.74. The average volatility for the week and month was at 2.30% 2.72% respectively. The company holds 241.66M shares outstanding and 208.87M shares are floated in market.
Huntsman Corporation (NYSE: HUN) today announced plans to build a new polyurethanes systems house in Dubai. Located within the Jebel Ali Free Trade Zone (JAFZA), the new facility will strengthen Huntsman’s differentiated downstream capabilities in the heart of the Middle East.
Targeted for completion by the second half of 2019, Huntsman’s investment will increase the company’s systems production capacity in the region and add a new dimension to its polyester polyol capabilities. The Dubai systems house will complement the company’s two existing systems houses in the Middle East, in Turkey (Huntsman EMA) and Saudi Arabia (HAPC – a joint venture with the BCI Group of Companies), forming three strong pillars for growth.
Tony Hankins, President Huntsman’s Polyurethanes division, said: “This is a bold and timely investment, which will serve as a strategic platform to expand our business in the Middle East and North Africa and build our market leading position. It represents the next step in our plan to strengthen our downstream network. We now have 30 facilities worldwide, which provide innovative solutions in close proximity to our customers.”
Steen Weien Hansen, regional Vice President of Polyurethanes, further commented: “The MDI-based systems market in the Middle East has delivered strong growth in the last five years and this trend is forecast to continue at estimated rates of 7% annually. The construction of the new systems house will enable us to supply traditional and high-end rigid polyurethane formulations from a local source. It will also enable us to leverage our development and production know-how in polyester polyol and polyol blends for the fast-growing flexible foam and footwear markets, as well as pre-polymers for adhesives, coatings and elastomers applications.”
Shares of Huntsman Corporation have been recently spotted trading -10.45% off of the 52-week high price. On the other end, company shares have been noted 39.79% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 23.12 – 36.09. Switching over to some distances from popular moving averages, we see that the stock has been recorded 6.46% away from the 50 day moving average and 5.84% away from the 200 day moving average. Moving closer, we can see that shares have been trading 3.82% off of the 20-day moving average. 10000 employees work in the Company. It has market cap of $7.81B and dividend yield of 2.01%.