Man Group plc purchased a new stake in shares of Huntsman Corporation (NYSE:HUN – Free Report) during the second quarter, Holdings Channel.com reports. The fund purchased 1,081,415 shares of the basic materials company’s stock, valued at approximately $11,485,000.
Several other institutional investors and hedge funds also recently made changes to their positions in HUN. Deutsche Bank AG purchased a new stake in Huntsman during the second quarter worth $6,773,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Huntsman in the 1st quarter worth about $2,632,000. Empowered Funds LLC grew its stake in Huntsman by 794.1% in the 1st quarter. Empowered Funds LLC now owns 128,864 shares of the basic materials company’s stock valued at $1,715,000 after acquiring an additional 114,451 shares during the last quarter. Old West Investment Management LLC purchased a new position in Huntsman during the 2nd quarter valued at about $1,401,000. Finally, Kintayl Capital LP purchased a new stake in shares of Huntsman in the second quarter valued at about $3,800,000. Institutional investors own 84.81% of the company’s stock.
Insiders Place Their Bets
In other Huntsman news, CEO Peter R. Huntsman purchased 100,000 shares of Huntsman stock in a transaction on Monday, August 3rd. The shares were bought at an average price of $9.81 per share, with a total value of $981,000.00. Following the purchase, the chief executive officer directly owned 7,256,341 shares in the company, valued at $71,184,705.21. This trade represents a 1.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.80% of the company’s stock.
Huntsman Stock Performance
Huntsman Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.0875 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.35 annualized dividend and a yield of 3.7%. Huntsman’s payout ratio is -33.65%.
Analyst Ratings Changes
Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Huntsman from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $11.00 target price on shares of Huntsman in a research note on Thursday, August 20th. Jefferies Financial Group set a $16.00 target price on Huntsman in a report on Friday, July 31st. The Goldman Sachs Group set a $12.00 price target on Huntsman in a research report on Thursday, July 16th. Finally, Morgan Stanley boosted their price target on Huntsman from $11.00 to $15.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.50.
View Our Latest Research Report on HUN
About Huntsman
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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