Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Seems like everything is down today, but Huntsman (NYSE: HUN) is down more than most -- 25% and counting. Yowza.

So what: Huntsman reported $0.47 per share in Q2 profit -- one penny short of Wall Street estimates.

Now what: But that's not the worst part. Sure, selling a stock down by 25% because it "missed by a penny" sounds pretty silly. But consider: Even after the sell-off, Huntsman still sells for 12 times earnings, but is only expected to grow those earnings at 7% per year over the next five years. I don't know about you, but that doesn't seem crazily cheap to me. At a valuation like this, I'm not so sure investors are wrong to be selling Huntsman.

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Fool contributor Rich Smith does not own (or short) shares of Huntsman Corporation. The Motley Fool has a disclosure policy. Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.