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

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

Other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc grew its stake in 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 acquiring an additional 1,670 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Huntsman during the 2nd quarter worth $45,000. Allworth Financial LP acquired a new stake in shares of Huntsman during the second 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 grew its position in shares of 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 period. Institutional investors and hedge funds own 84.81% of the company’s stock.

Wall Street Analysts Forecast Growth

HUN has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $11.00 price objective on shares of Huntsman in a research note on Thursday, August 20th. Weiss Ratings lowered shares of Huntsman from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, August 3rd. Mizuho decreased their price target on shares of Huntsman from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. Bank of America boosted their price objective on shares of Huntsman from $10.00 to $11.00 and gave the company an “underperform” rating in a research note on Tuesday, June 30th. Finally, The Goldman Sachs Group set a $12.00 target price on Huntsman in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.50.

Insider Activity at Huntsman

In related news, CEO Peter R. Huntsman bought 100,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was bought at an average price of $9.81 per share, with a total value of $981,000.00. Following the completion of the transaction, the chief executive officer directly owned 7,256,341 shares of the company’s stock, valued at approximately $71,184,705.21. This represents a 1.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Huntsman Stock Performance

Shares of HUN stock 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 company has a market cap of $1.69 billion, a PE ratio of -9.25 and a beta of 0.70. The company’s fifty day simple moving average is $10.74 and its 200-day simple moving average is $12.40. Huntsman Corporation has a 52 week low of $7.30 and a 52 week 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. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.35 annualized dividend and a yield of 3.6%. Huntsman’s dividend payout ratio (DPR) is -33.65%.

About Huntsman

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.