Bank of New York Mellon Corp Invests $8.04 Million in Huntsman Corporation $HUN

Key Points

• Bank of New York Mellon acquired 757,541 Huntsman shares worth approximately $8.05 million, giving it a 0.43% stake. Institutional investors and hedge funds collectively own 84.81% of the company.
• CEO Peter Huntsman purchased 100,000 shares for roughly $981,000, increasing his ownership by 1.4%; insiders collectively own 6.8% of Huntsman.
• Huntsman shares opened at $9.41, down 3.1%, while the company maintained a quarterly dividend of $0.0875 per share, equivalent to a 3.7% yield. Analysts have a consensus “Hold” rating and a $12.50 target price.

Bank of New York Mellon Corp purchased a new position in shares of Huntsman Corporation (NYSE:HUN - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 757,541 shares of the basic materials company's stock, valued at approximately $8,045,000. Bank of New York Mellon Corp owned about 0.43% of Huntsman at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. UBS Group AG lifted its holdings in shares of Huntsman by 83.5% during the 3rd quarter. UBS Group AG now owns 7,364,206 shares of the basic materials company's stock valued at $66,131,000 after purchasing an additional 3,351,265 shares in the last quarter. AQR Capital Management LLC lifted its stake in Huntsman by 29.8% in the 3rd quarter. AQR Capital Management LLC now owns 12,062,972 shares of the basic materials company's stock valued at $106,878,000 after acquiring an additional 2,772,563 shares in the last quarter. Two Sigma Investments LP boosted its position in Huntsman by 476.5% during the 3rd quarter. Two Sigma Investments LP now owns 2,841,510 shares of the basic materials company's stock worth $25,517,000 after acquiring an additional 2,348,598 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Huntsman during the 2nd quarter worth approximately $21,953,000. Finally, Gotham Asset Management LLC raised its holdings in shares of Huntsman by 4,003.2% in the fourth quarter. Gotham Asset Management LLC now owns 1,806,207 shares of the basic materials company's stock valued at $18,062,000 after purchasing an additional 1,762,187 shares during the last quarter. Institutional investors and hedge funds own 84.81% of the company's stock.

Insider Activity at Huntsman

In other news, CEO Peter R. Huntsman bought 100,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were bought 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 owned 7,256,341 shares in the company, valued at approximately $71,184,705.21. This trade represents a 1.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.80% of the company's stock.

Huntsman Trading Down 3.1%

HUN stock opened at $9.41 on Friday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -9.05 and a beta of 0.70. The company has a fifty day moving average price of $10.77 and a two-hundred day moving average price of $12.42. Huntsman Corporation has a one year low of $7.30 and a one year high of $16.08. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.33 and a quick ratio of 0.78.

Huntsman Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Huntsman's payout ratio is currently -33.65%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Huntsman from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings cut Huntsman from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday, August 3rd. Bank of America raised their price target on Huntsman from $10.00 to $11.00 and gave the company an "underperform" rating in a research note on Tuesday, June 30th. Royal Bank Of Canada decreased their target price on shares of Huntsman from $11.00 to $10.00 and set a "sector perform" rating for the company in a research note on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $11.00 price target on shares of Huntsman in a research report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Huntsman has an average rating of "Hold" and a consensus target price of $12.50.

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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