271,965 Shares in Huntsman Corporation $HUN Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new stake in Huntsman Corporation (NYSE:HUN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 271,965 shares of the basic materials company’s stock, valued at approximately $2,854,000.

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

Analyst Ratings Changes

HUN has been the topic of several analyst reports. Bank of America increased their target price on Huntsman from $10.00 to $11.00 and gave the company an “underperform” rating in a research note on Tuesday, June 30th. Wall Street Zen raised Huntsman from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wells Fargo & Company cut 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $11.00 price objective on shares of Huntsman in a research note on Thursday, August 20th. Finally, Weiss Ratings cut shares of Huntsman from a “sell (d)” rating to a “sell (d-)” rating 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 issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Huntsman presently has a consensus rating of “Hold” and a consensus price target of $12.50.

Insider Activity

In other Huntsman news, CEO Peter R. Huntsman bought 100,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was acquired at an average cost of $9.81 per share, with a total value of $981,000.00. Following the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.80% of the company’s stock.

Huntsman Stock Down 1.7%

NYSE:HUN opened at $9.49 on Friday. Huntsman Corporation has a 1 year low of $7.30 and a 1 year 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 stock has a market cap of $1.66 billion, a price-to-earnings ratio of -9.12 and a beta of 0.70. The stock has a 50-day moving average price of $10.92 and a two-hundred day moving average price of $12.53.

Huntsman Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Huntsman’s payout ratio is -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.