Bank of America Corp DE Has $21.24 Million Stock Holdings in Huntsman Corporation $HUN

Key Points

• Bank of America increased its Huntsman stake by 17.6% in the first quarter, holding 1.60 million shares worth approximately $21.24 million. Institutional investors collectively own 84.81% of Huntsman’s stock.
• CEO Peter Huntsman purchased 100,000 shares at an average price of $9.81, bringing his direct ownership to about 7.26 million shares. Corporate insiders own 6.80% of the company.
• Huntsman shares opened at $10.08, down 2.2%, while analysts maintained an overall “Hold” consensus with an average price target of $12.83. The company also declared a quarterly dividend of $0.0875 per share, implying a 3.5% annualized yield.

Bank of America Corp DE lifted its position in shares of Huntsman Corporation (NYSE:HUN - Free Report) by 17.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,595,802 shares of the basic materials company's stock after purchasing an additional 238,592 shares during the quarter. Bank of America Corp DE owned 0.91% of Huntsman worth $21,240,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Huntsman by 9.3% in the fourth quarter. Vanguard Group Inc. now owns 17,880,912 shares of the basic materials company's stock valued at $178,809,000 after acquiring an additional 1,523,590 shares during the period. AQR Capital Management LLC raised its holdings in Huntsman by 29.8% during the 3rd quarter. AQR Capital Management LLC now owns 12,062,972 shares of the basic materials company's stock worth $106,878,000 after buying an additional 2,772,563 shares during the period. UBS Group AG raised its holdings in Huntsman by 83.5% during the 3rd quarter. UBS Group AG now owns 7,364,206 shares of the basic materials company's stock worth $66,131,000 after buying an additional 3,351,265 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Huntsman by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,969,687 shares of the basic materials company's stock valued at $69,697,000 after buying an additional 336,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Huntsman by 16.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,950,777 shares of the basic materials company's stock valued at $92,509,000 after buying an additional 1,003,187 shares during the period. Institutional investors and hedge funds own 84.81% of the company's stock.

Insider Buying and Selling

In other news, CEO Peter R. Huntsman acquired 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 transaction, the chief executive officer directly owned 7,256,341 shares in the company, valued at approximately $71,184,705.21. The trade was a 1.40% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Huntsman Stock Down 2.2%

NYSE:HUN opened at $10.08 on Wednesday. Huntsman Corporation has a twelve month low of $7.30 and a twelve month high of $16.08. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -9.70 and a beta of 0.70. 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's 50 day moving average price is $11.58 and its two-hundred day moving average price is $12.68.

Huntsman Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.0875 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.35 dividend on an annualized basis and a yield of 3.5%. Huntsman's dividend payout ratio (DPR) is currently -33.65%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company lowered their target price on Huntsman from $14.00 to $11.00 and set an "equal weight" rating for the company in a report on Tuesday, August 4th. Morgan Stanley upped their price objective on Huntsman from $11.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 5th. UBS Group decreased their price objective on Huntsman from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. The Goldman Sachs Group set a $12.00 target price on Huntsman in a research report on Thursday, July 16th. Finally, Citigroup upped their price target on Huntsman from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. One 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $12.83.

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.

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