Bank of Nova Scotia Invests $11.91 Million in Huntsman Corporation $HUN

Bank of Nova Scotia acquired a new position in Huntsman Corporation (NYSE:HUN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,121,153 shares of the basic materials company's stock, valued at approximately $11,907,000. Bank of Nova Scotia owned approximately 0.64% of Huntsman as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Huntsman during the 2nd quarter valued at $193,750,000. Pzena Investment Management LLC purchased a new position in shares of Huntsman in the 2nd quarter worth about $54,817,000. UBS Group AG boosted its holdings in shares of Huntsman by 83.5% in the 3rd quarter. UBS Group AG now owns 7,364,206 shares of the basic materials company's stock worth $66,131,000 after purchasing an additional 3,351,265 shares in the last quarter. AQR Capital Management LLC increased its position in shares of 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 valued at $106,878,000 after purchasing an additional 2,772,563 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in shares of 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 valued at $25,517,000 after purchasing an additional 2,348,598 shares during the last quarter. Institutional investors own 84.81% of the company's stock.

Huntsman Trading Down 3.7%

NYSE HUN opened at $9.61 on Tuesday. Huntsman Corporation has a fifty-two week low of $7.30 and a fifty-two week high of $16.08. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.78 and a current ratio of 1.33. The stock has a 50 day simple moving average of $11.15 and a two-hundred day simple moving average of $12.64. The stock has a market cap of $1.68 billion, a P/E ratio of -9.24 and a beta of 0.70.

Huntsman Dividend Announcement

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 issued a $0.0875 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.35 annualized dividend and a yield of 3.6%. Huntsman's dividend payout ratio is -33.65%.

Insider Buying and Selling

In related news, CEO Peter R. Huntsman bought 100,000 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was purchased at an average cost of $9.81 per share, with a total value of $981,000.00. Following the transaction, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

HUN has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of Huntsman from $14.00 to $11.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 4th. Morgan Stanley raised their price objective on Huntsman from $11.00 to $15.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $11.00 target price on shares of Huntsman in a report on Thursday. Mizuho lowered their price objective on Huntsman from $14.00 to $13.00 and set a "neutral" rating for the company in a research report on Wednesday, July 1st. Finally, Royal Bank Of Canada cut their target price on shares of Huntsman from $11.00 to $10.00 and set a "sector perform" rating on the stock in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $12.50.

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.

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