Great Lakes Advisors LLC Makes New Investment in Huntsman Corporation $HUN

Great Lakes Advisors LLC purchased a new position in shares of Huntsman Corporation (NYSE:HUNFree Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 275,068 shares of the basic materials company’s stock, valued at approximately $2,921,000.

A number of other institutional investors have also made changes to their positions in the stock. Pzena Investment Management LLC acquired a new position in Huntsman during the second quarter valued at approximately $54,817,000. BlackRock Inc. acquired a new stake in shares of Huntsman in the second quarter worth $193,750,000. Pallas Capital Advisors LLC bought a new stake in shares of Huntsman during the 2nd quarter worth $338,000. Deutsche Bank AG bought a new stake in shares of Huntsman during the 2nd quarter worth $6,773,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Huntsman in the 2nd quarter valued at $583,000. 84.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HUN has been the topic of several research analyst reports. Morgan Stanley raised their price target on Huntsman from $11.00 to $15.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Citigroup increased their target price on Huntsman from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Jefferies Financial Group set a $16.00 price target on Huntsman in a research report on Friday, July 31st. Mizuho cut their price target on Huntsman from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. Finally, Royal Bank Of Canada reduced their price objective on Huntsman from $11.00 to $10.00 and set a “sector perform” rating for the company in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.50.

View Our Latest Stock Analysis on HUN

Huntsman Stock Down 0.4%

NYSE HUN opened at $10.14 on Friday. Huntsman Corporation has a twelve month low of $7.30 and a twelve month high of $16.08. The stock has a market cap of $1.78 billion, a PE ratio of -9.75 and a beta of 0.70. The firm has a 50-day simple moving average of $11.40 and a 200 day simple moving average of $12.67. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.78 and a current ratio of 1.33.

Huntsman Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Huntsman’s dividend payout ratio (DPR) is presently -33.65%.

Insider Activity

In other news, CEO Peter R. Huntsman acquired 100,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were acquired at an average cost of $9.81 per share, for a total transaction of $981,000.00. Following the completion of the transaction, the chief executive officer owned 7,256,341 shares in the company, valued at approximately $71,184,705.21. This trade represents a 1.40% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.80% of the company’s stock.

Huntsman Company Profile

(Free Report)

Huntsman Corporation is a global manufacturer and marketer of specialty chemicals with headquarters in The Woodlands, Texas. Founded in 1970 by entrepreneur Jon Huntsman Sr., the company has grown through strategic acquisitions and organic expansion to establish a broad portfolio of products serving diverse end markets. Huntsman maintains a presence in more than 30 countries, operating manufacturing facilities across North America, Europe, Asia-Pacific, Latin America and the Middle East.

The company organizes its operations into several core business segments, including Polyurethanes, Performance Products, Advanced Materials, and Textile Effects.

Further Reading

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Institutional Ownership by Quarter for Huntsman (NYSE:HUN)

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