BlackRock Inc. Invests $193.75 Million in Huntsman Corporation $HUN

Key Points

• BlackRock acquired 18.24 million Huntsman shares worth approximately $193.75 million, giving it a 10.4% stake. Institutional investors collectively own 84.81% of the company.
• Analysts remain cautious, with a consensus “Hold” rating and a $12.50 target price; recent price targets range from $10 to $16.
• Huntsman CEO Peter Huntsman bought 100,000 shares for $981,000, while the company maintained a quarterly dividend of $0.0875 per share, representing a 3.6% annualized yield.

BlackRock Inc. bought a new position in shares of Huntsman Corporation (NYSE:HUN - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 18,243,856 shares of the basic materials company's stock, valued at approximately $193,750,000. BlackRock Inc. owned 10.40% of Huntsman as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HUN. Lombard Odier Asset Management USA Corp increased its position in shares of Huntsman by 6.2% in the first quarter. Lombard Odier Asset Management USA Corp now owns 16,868 shares of the basic materials company's stock worth $225,000 after acquiring an additional 982 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Huntsman by 8.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 13,863 shares of the basic materials company's stock valued at $139,000 after acquiring an additional 1,099 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Huntsman by 2.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 44,574 shares of the basic materials company's stock worth $446,000 after purchasing an additional 1,225 shares during the period. Guggenheim Capital LLC boosted its position in Huntsman by 2.9% during the 4th quarter. Guggenheim Capital LLC now owns 43,022 shares of the basic materials company's stock worth $430,000 after purchasing an additional 1,226 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Huntsman by 0.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 477,566 shares of the basic materials company's stock valued at $4,776,000 after purchasing an additional 1,372 shares in the last quarter. Institutional investors and hedge funds own 84.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Mizuho reduced their price objective on Huntsman from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 1st. UBS Group dropped their target price on Huntsman from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. Bank of America boosted their price target on Huntsman from $10.00 to $11.00 and gave the stock an "underperform" rating in a research report on Tuesday, June 30th. Jefferies Financial Group set a $16.00 price target on Huntsman in a report on Friday, July 31st. Finally, Royal Bank Of Canada lowered their price objective on shares of Huntsman from $11.00 to $10.00 and set a "sector perform" rating for the company in a research report on Monday, August 3rd. 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.50.

Insider Buying and Selling at Huntsman

In other Huntsman news, CEO Peter R. Huntsman purchased 100,000 shares of Huntsman stock in a transaction dated Monday, August 3rd. The shares were bought at an average cost of $9.81 per share, for a total transaction of $981,000.00. Following the transaction, the chief executive officer owned 7,256,341 shares in the company, valued at $71,184,705.21. This represents a 1.40% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 6.80% of the company's stock.

Huntsman Stock Performance

Shares of Huntsman stock opened at $9.66 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.78 and a current ratio of 1.33. Huntsman Corporation has a 1 year low of $7.30 and a 1 year high of $16.08. The firm's 50-day simple moving average is $10.97 and its 200-day simple moving average is $12.55. The firm has a market cap of $1.69 billion, a PE ratio of -9.29 and a beta of 0.70.

Huntsman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.0875 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.35 annualized dividend and a yield of 3.6%. Huntsman's payout ratio is presently -33.65%.

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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