Barclays upgraded shares of Huntsman (NYSE:HUN – Free Report) to a hold rating in a research report report published on Monday,Zacks reports.
Other analysts have also issued research reports about the company. Jefferies Financial Group cut their target price on Huntsman from $16.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, October 2nd. Mizuho dropped their price objective on Huntsman from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. KeyCorp initiated coverage on Huntsman in a research note on Friday, September 11th. They issued an “overweight” rating and a $14.00 price objective for the company. Bank of America boosted their price objective on Huntsman from $10.00 to $11.00 and gave the company an “underperform” rating in a report on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $11.00 target price on shares of Huntsman in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Huntsman currently has an average rating of “Hold” and an average target price of $11.29.
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Huntsman Price Performance
Huntsman Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were given a $0.0875 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.35 dividend on an annualized basis and a yield of 4.3%. Huntsman’s dividend payout ratio (DPR) is currently -33.65%.
Insider Activity
In related news, CEO Peter R. Huntsman acquired 100,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was acquired at an average price of $9.81 per share, for a total transaction of $981,000.00. Following the purchase, the chief executive officer owned 7,256,341 shares of the company’s stock, valued at $71,184,705.21. This represents a 1.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.80% of the company’s stock.
Institutional Trading of Huntsman
Large investors have recently made changes to their positions in the company. NorthCrest Asset Manangement LLC purchased a new position in Huntsman in the third quarter worth approximately $104,000. Versant Capital Management Inc increased its position in shares of Huntsman by 174.6% in the 3rd quarter. Versant Capital Management Inc now owns 7,338 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 4,666 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Huntsman in the 2nd quarter valued at approximately $906,000. Nykredit A S acquired a new stake in shares of Huntsman in the 2nd quarter valued at $32,000. Finally, Corient Private Wealth LP raised its holdings in shares of Huntsman by 18.4% in the 2nd quarter. Corient Private Wealth LP now owns 67,330 shares of the basic materials company’s stock valued at $715,000 after purchasing an additional 10,485 shares in the last quarter. 84.81% of the stock is currently owned by hedge funds and other institutional investors.
About Huntsman
Huntsman Corporation (NYSE:HUN) is a global manufacturer of differentiated and commodity chemical products. Founded in 1970, the company serves customers in industries including construction, automotive, aerospace, energy, electronics, coatings, adhesives, and consumer products.
Huntsman’s product portfolio includes polyurethane chemicals such as methylene diphenyl diisocyanate, or MDI, and polyols; performance chemicals including amines and maleic anhydride; and advanced materials such as epoxy-based formulations, adhesives, and composite materials.
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