Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Holdings in Huntsman Corporation $HUN

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Huntsman Corporation (NYSE:HUN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 54,852 shares of the basic materials company’s stock, valued at approximately $583,000.

Several other institutional investors and hedge funds also recently made changes to their positions in HUN. Lombard Odier Asset Management USA Corp increased its stake in shares of Huntsman by 6.2% in the first quarter. Lombard Odier Asset Management USA Corp now owns 16,868 shares of the basic materials company’s stock worth $225,000 after buying an additional 982 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Huntsman by 8.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 13,863 shares of the basic materials company’s stock valued at $139,000 after acquiring an additional 1,099 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in Huntsman by 2.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 44,574 shares of the basic materials company’s stock worth $446,000 after acquiring an additional 1,225 shares in the last quarter. Guggenheim Capital LLC grew its holdings in Huntsman by 2.9% during the 4th quarter. Guggenheim Capital LLC now owns 43,022 shares of the basic materials company’s stock worth $430,000 after acquiring an additional 1,226 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Huntsman by 0.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 477,566 shares of the basic materials company’s stock worth $4,776,000 after purchasing an additional 1,372 shares during the last quarter. 84.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Peter R. Huntsman bought 100,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was bought at an average cost of $9.81 per share, with a total value of $981,000.00. Following the completion of the acquisition, the chief executive officer owned 7,256,341 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 6.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HUN shares. The Goldman Sachs Group set a $12.00 target price on shares of Huntsman in a research note on Thursday, July 16th. Citigroup lifted their price target on Huntsman from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Wall Street Zen raised Huntsman from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Bank of America upped their price objective on Huntsman from $10.00 to $11.00 and gave the company an “underperform” rating in a research note on Tuesday, June 30th. Finally, UBS Group reduced their target price on Huntsman from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Huntsman currently has a consensus rating of “Hold” and a consensus target price of $12.50.

Huntsman Trading Down 1.7%

Huntsman stock opened at $9.99 on Friday. Huntsman Corporation has a 1 year low of $7.30 and a 1 year high of $16.08. The firm’s 50-day moving average is $11.28 and its 200-day moving average is $12.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.78 and a current ratio of 1.33. The company has a market cap of $1.75 billion, a P/E ratio of -9.61 and a beta of 0.70.

Huntsman Announces Dividend

The firm also recently announced 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 of this dividend is Tuesday, September 15th. This represents a $0.35 dividend on an annualized basis and a yield of 3.5%. Huntsman’s dividend payout ratio (DPR) is currently -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.