86,392 Shares in Huntsman Corporation $HUN Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new position in shares of Huntsman Corporation (NYSE:HUN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 86,392 shares of the basic materials company’s stock, valued at approximately $917,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in shares of Huntsman by 166.7% in the 2nd 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 during the period. Global Retirement Partners LLC purchased a new stake in Huntsman during the 2nd quarter valued at $45,000. Allworth Financial LP bought a new stake in Huntsman in the second quarter worth $52,000. Advisory Services Network LLC purchased a new position in Huntsman during the third quarter worth $58,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Huntsman by 121.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 6,751 shares of the basic materials company’s stock worth $61,000 after buying an additional 3,706 shares during the period. 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 Huntsman stock in a transaction dated Monday, August 3rd. The shares were acquired at an average cost of $9.81 per share, with a total value of $981,000.00. Following the completion of the transaction, the chief executive officer 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HUN. Wells Fargo & Company reduced their target price on shares of Huntsman from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. Wall Street Zen upgraded shares of Huntsman from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. The Goldman Sachs Group set a $12.00 price objective on shares of Huntsman in a research report on Thursday, July 16th. Jefferies Financial Group set a $16.00 price objective on shares of Huntsman in a research note on Friday, July 31st. Finally, Mizuho dropped their target price on Huntsman from $14.00 to $13.00 and set a “neutral” rating for the company 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 issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.50.

Huntsman Stock Up 2.3%

Shares of HUN opened at $9.62 on Friday. The firm has a fifty day moving average price of $10.74 and a 200-day moving average price of $12.40. 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 firm has a market capitalization of $1.69 billion, a P/E ratio of -9.25 and a beta of 0.70. Huntsman Corporation has a 12-month low of $7.30 and a 12-month high of $16.08.

Huntsman Announces Dividend

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