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

Key Points

• HSBC Holdings PLC acquired 271,965 Huntsman shares during the second quarter, worth approximately $2.85 million and representing about 0.16% of the company. Institutional investors collectively own 84.81% of Huntsman.
• Huntsman shares opened at $9.49, down 1.7%, with the stock trading well below its 52-week high of $16.08. The company declared a quarterly dividend of $0.0875, equal to an annualized $0.35 and a 3.7% yield.
• Analysts maintain an average “Hold” rating with a consensus price target of $12.50, while CEO Peter Huntsman bought 100,000 shares for approximately $981,000. Insiders own 6.8% of the company.

Hsbc Holdings PLC purchased a new stake in Huntsman Corporation (NYSE:HUN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 271,965 shares of the basic materials company's stock, valued at approximately $2,854,000. Hsbc Holdings PLC owned approximately 0.16% of Huntsman at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Versant Capital Management Inc lifted its holdings in shares of Huntsman by 166.7% during the second 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 period. Global Retirement Partners LLC bought a new stake in shares of Huntsman in the 2nd quarter worth about $45,000. Allworth Financial LP acquired a new stake in shares of Huntsman during the 2nd quarter worth about $52,000. Advisory Services Network LLC bought a new position in Huntsman during the 3rd quarter valued at about $58,000. Finally, Caitong International Asset Management Co. Ltd boosted its position 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 buying an additional 3,706 shares in the last quarter. 84.81% of the stock is currently owned by institutional investors.

Huntsman Trading Down 1.7%

Shares of 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 50-day moving average of $10.92 and a two-hundred day moving average of $12.53. The company has a market cap of $1.66 billion, a PE ratio of -9.12 and a beta of 0.70. The company has a current ratio of 1.33, a quick ratio of 0.78 and a debt-to-equity ratio of 0.59.

Huntsman Announces Dividend

The company 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 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Huntsman's dividend payout ratio (DPR) is presently -33.65%.

Wall Street Analysts Forecast Growth

HUN has been the subject of several recent analyst reports. Mizuho dropped their price objective on shares of Huntsman from $14.00 to $13.00 and set a "neutral" rating for the company in a report on Wednesday, July 1st. Royal Bank Of Canada reduced their target price on Huntsman from $11.00 to $10.00 and set a "sector perform" rating on the stock in a report on Monday, August 3rd. Morgan Stanley increased their price target on Huntsman from $11.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 5th. Wells Fargo & Company dropped their price target on Huntsman from $14.00 to $11.00 and set an "equal weight" rating for the company in a report on Tuesday, August 4th. Finally, Citigroup lifted their price objective on Huntsman from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. One 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $12.50.

Insider Activity at Huntsman

In other news, CEO Peter R. Huntsman bought 100,000 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was bought at an average price of $9.81 per share, for a total transaction of $981,000.00. Following the completion of the transaction, the chief executive officer directly 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 acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 6.80% of the company's stock.

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.

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