Legal & General Group Plc Purchases Shares of 261,372 Huntsman Corporation $HUN

Legal & General Group Plc purchased a new stake in Huntsman Corporation (NYSE:HUN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 261,372 shares of the basic materials company’s stock, valued at approximately $2,776,000. Legal & General Group Plc owned 0.15% of Huntsman as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in HUN. Versant Capital Management Inc lifted its stake in Huntsman by 166.7% during the second quarter. Versant Capital Management Inc now owns 2,672 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 1,670 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Huntsman in the second quarter valued at $45,000. Allworth Financial LP purchased a new stake in shares of Huntsman in the 2nd quarter valued at $52,000. Advisory Services Network LLC acquired a new position in Huntsman during the 3rd quarter worth about $58,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Huntsman by 121.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 6,751 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 3,706 shares during the period. Hedge funds and other institutional investors own 84.81% of the company’s stock.

Wall Street Analyst Weigh In

HUN has been the topic of several research reports. Wells Fargo & Company reduced their price target on shares of Huntsman from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 4th. Mizuho cut their target price on shares of Huntsman from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. Wall Street Zen upgraded shares of Huntsman from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Bank of America lifted their target price on Huntsman from $10.00 to $11.00 and gave the company an “underperform” rating in a report on Tuesday, June 30th. Finally, 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 note on Monday, August 3rd. One equities 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 assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.50.

Huntsman Trading Up 2.3%

NYSE:HUN opened at $9.62 on Friday. 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 stock’s 50 day simple moving average is $10.74 and its 200-day simple moving average is $12.40. Huntsman Corporation has a 12-month low of $7.30 and a 12-month high of $16.08. The firm has a market cap of $1.69 billion, a P/E ratio of -9.25 and a beta of 0.70.

Huntsman Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.0875 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.35 dividend on an annualized basis and a yield of 3.6%. Huntsman’s payout ratio is currently -33.65%.

Insiders Place Their Bets

In other news, CEO Peter R. Huntsman purchased 100,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were acquired 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 of the company’s stock, valued at $71,184,705.21. The trade was a 1.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 6.80% of the company’s stock.

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.