Caisse de depot et placement du Quebec Buys New Stake in Huntsman Corporation $HUN

Caisse de depot et placement du Quebec purchased a new stake in Huntsman Corporation (NYSE:HUN) during the second quarter, HoldingsChannel.com reports. The fund purchased 131,900 shares of the basic materials company’s stock, valued at approximately $1,401,000.

Several other hedge funds have also bought and sold shares of the stock. Odyssean LLC bought a new position in shares of Huntsman during the 2nd quarter valued at about $271,000. Man Group plc bought a new stake in shares of Huntsman in the second quarter worth about $11,485,000. Polar Asset Management Partners Inc. bought a new stake in shares of Huntsman in the second quarter worth about $4,132,000. Jupiter Topco LLC purchased a new stake in shares of Huntsman in the second quarter worth about $838,000. Finally, Kintayl Capital LP bought a new position in Huntsman during the second quarter valued at approximately $3,800,000. Hedge funds and other institutional investors own 84.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on HUN shares. Jefferies Financial Group set a $16.00 price target on Huntsman in a report on Friday, July 31st. Citigroup upped their price objective on Huntsman from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. UBS Group lowered their target price on Huntsman from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Morgan Stanley raised their target price on shares of Huntsman from $11.00 to $15.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Finally, Mizuho reduced their price target on shares of Huntsman from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Huntsman has an average rating of “Hold” and an average target price of $12.50.

Insider Activity at Huntsman

In related news, CEO Peter R. Huntsman bought 100,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was purchased at an average price of $9.81 per share, for a total transaction of $981,000.00. Following the acquisition, the chief executive officer owned 7,256,341 shares in the company, valued at $71,184,705.21. This trade represents a 1.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 6.80% of the company’s stock.

Huntsman Stock Down 1.7%

Shares of NYSE:HUN opened at $9.49 on Friday. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -9.12 and a beta of 0.70. Huntsman Corporation has a 12 month low of $7.30 and a 12 month high of $16.08. The company has a current ratio of 1.33, a quick ratio of 0.78 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $10.92 and a 200 day moving average price of $12.53.

Huntsman Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.0875 dividend. This represents a $0.35 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Huntsman’s dividend payout ratio (DPR) is presently -33.65%.

Huntsman Company 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.