2,221,892 Shares in Huntsman Corporation $HUN Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 2.22 million Huntsman shares worth approximately $23.6 million, giving it a 1.27% stake. Institutional investors and hedge funds collectively own 84.81% of the company.
• Analyst sentiment remains mixed, with Huntsman carrying a consensus “Hold” rating and an average price target of $12.23. Price targets range from $10 to $16, including a new “overweight” rating from KeyCorp.
• CEO Peter Huntsman purchased 100,000 shares for about $981,000, while the company maintained its quarterly dividend of $0.0875 per share, equivalent to a 3.9% annualized yield.

Bank of America Corp DE bought a new stake in shares of Huntsman Corporation (NYSE:HUN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,221,892 shares of the basic materials company's stock, valued at approximately $23,596,000. Bank of America Corp DE owned approximately 1.27% of Huntsman at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in HUN. Versant Capital Management Inc raised its stake 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 valued at $28,000 after acquiring an additional 1,670 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Huntsman during the second quarter worth approximately $45,000. Allworth Financial LP bought a new stake in Huntsman during the second quarter worth approximately $52,000. Essential Partners LLC grew its holdings in Huntsman by 40.3% during the first quarter. Essential Partners LLC now owns 5,766 shares of the basic materials company's stock valued at $77,000 after purchasing an additional 1,655 shares during the last quarter. Finally, Platinum Investment Management Ltd. acquired a new position in Huntsman during the fourth quarter valued at approximately $68,000. Institutional investors and hedge funds own 84.81% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HUN. Weiss Ratings cut shares of Huntsman from a "sell (d)" rating to a "sell (d-)" rating in a research note on Monday, August 3rd. Bank of America raised their target price 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. Jefferies Financial Group set a $16.00 target price on shares of Huntsman in a report on Friday, July 31st. UBS Group cut their target price on shares of Huntsman from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Monday, August 3rd. Finally, KeyCorp assumed coverage on shares of Huntsman in a report on Friday, September 11th. They set an "overweight" rating and a $14.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $12.23.

Insiders Place Their Bets

In other Huntsman news, CEO Peter R. Huntsman purchased 100,000 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were purchased at an average price of $9.81 per share, for a total transaction of $981,000.00. Following the completion of the purchase, 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 is accessible through this hyperlink. 6.80% of the stock is owned by corporate insiders.

Huntsman Trading Up 0.4%

Huntsman stock opened at $9.09 on Thursday. The business has a 50 day moving average price of $10.28 and a two-hundred day moving average price of $12.09. The company has a quick ratio of 0.78, a current ratio of 1.33 and a debt-to-equity ratio of 0.59. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -8.74 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Huntsman's dividend payout ratio (DPR) is -33.65%.

Huntsman Profile

Huntsman Corporation NYSE: HUN is a global manufacturer of differentiated chemicals and performance materials. The company supplies products used in construction, automotive, aerospace, electronics, energy, coatings, adhesives, footwear, and other industrial and consumer applications.

Huntsman's principal offerings include polyurethane systems and polyurethane intermediates, epoxy and other advanced-materials solutions, amines, maleic anhydride, and specialty chemicals. Its materials are used to produce insulation, composites, coatings, adhesives, elastomers, and other products designed to improve durability, energy efficiency, weight, and performance.

Founded in 1970 by Jon M.

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