Pzena Investment Management LLC Makes New Investment in Huntsman Corporation $HUN

Pzena Investment Management LLC bought a new stake in shares of Huntsman Corporation (NYSE:HUN) during the 2nd quarter, Holdings Channel.com reports. The fund bought 5,161,672 shares of the basic materials company’s stock, valued at approximately $54,817,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Huntsman in the 2nd quarter worth $193,750,000. UBS Group AG lifted its stake in shares of Huntsman by 83.5% during the 3rd quarter. UBS Group AG now owns 7,364,206 shares of the basic materials company’s stock worth $66,131,000 after purchasing an additional 3,351,265 shares during the last quarter. AQR Capital Management LLC boosted its position in Huntsman by 29.8% during the third quarter. AQR Capital Management LLC now owns 12,062,972 shares of the basic materials company’s stock valued at $106,878,000 after purchasing an additional 2,772,563 shares in the last quarter. Two Sigma Investments LP boosted its position in Huntsman by 476.5% during the third quarter. Two Sigma Investments LP now owns 2,841,510 shares of the basic materials company’s stock valued at $25,517,000 after purchasing an additional 2,348,598 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in Huntsman in the second quarter valued at about $21,953,000. 84.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HUN has been the subject of a number of recent research reports. Citigroup boosted their target price on shares of Huntsman from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Jefferies Financial Group set a $16.00 price objective on shares of Huntsman in a research report on Friday, July 31st. Morgan Stanley boosted their price objective on shares of Huntsman from $11.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. UBS Group decreased their target price on shares of Huntsman from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $15.00 target price on shares of Huntsman in a research note on Tuesday, May 19th. One investment 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 data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.83.

Insider Activity

In related news, CEO Peter R. Huntsman acquired 100,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were purchased 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 $71,184,705.21. The trade was a 1.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.80% of the stock is currently owned by company insiders.

Huntsman Trading Up 0.2%

Shares of NYSE:HUN opened at $10.32 on Tuesday. The business’s 50-day moving average is $11.67 and its 200 day moving average is $12.69. Huntsman Corporation has a 1 year low of $7.30 and a 1 year high of $16.08. The firm has a market capitalization of $1.81 billion, a P/E ratio of -9.92 and a beta of 0.70. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.33 and a quick ratio of 0.78.

Huntsman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.0875 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 3.4%. Huntsman’s payout ratio is presently -33.65%.

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.