Quantbot Technologies LP purchased a new stake in Huntsman Corporation (NYSE:HUN – Free Report) in the second quarter, Holdings Channel reports. The institutional investor purchased 339,332 shares of the basic materials company’s stock, valued at approximately $3,604,000.
Several other hedge funds also recently modified their holdings of HUN. Versant Capital Management Inc raised its position in Huntsman by 166.7% in the second quarter. Versant Capital Management Inc now owns 2,672 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 1,670 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Huntsman during the second quarter worth about $45,000. Allworth Financial LP bought a new stake in shares of Huntsman during the second quarter worth about $52,000. Essential Partners LLC raised its holdings in Huntsman by 40.3% in the 1st quarter. Essential Partners LLC now owns 5,766 shares of the basic materials company’s stock valued at $77,000 after buying an additional 1,655 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Huntsman during the 3rd quarter worth approximately $58,000. Institutional investors and hedge funds own 84.81% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have issued reports on HUN shares. Wall Street Zen upgraded shares of Huntsman from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Mizuho cut their price target on shares of Huntsman from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. Citigroup boosted their price objective on shares of Huntsman from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Weiss Ratings downgraded Huntsman from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company lowered their target price on Huntsman from $14.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Huntsman currently has a consensus rating of “Hold” and a consensus price target of $12.50.
Huntsman Stock Performance
NYSE:HUN opened at $9.99 on Monday. 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 Corporation has a fifty-two week low of $7.30 and a fifty-two week high of $16.08. The company has a 50 day simple moving average of $11.28 and a two-hundred day simple moving average of $12.66. The company has a market capitalization of $1.75 billion, a PE ratio of -9.61 and a beta of 0.70.
Huntsman Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Huntsman’s dividend payout ratio (DPR) is currently -33.65%.
Insiders Place Their Bets
In other news, CEO Peter R. Huntsman bought 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were acquired at an average price of $9.81 per share, for a total transaction of $981,000.00. Following the completion of the acquisition, the chief executive officer directly owned 7,256,341 shares in the company, valued at approximately $71,184,705.21. This represents a 1.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 6.80% of the stock is owned by corporate insiders.
Huntsman Profile
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.
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