Empowered Funds LLC Has $1.72 Million Stock Position in Huntsman Corporation $HUN

Key Points

• Empowered Funds LLC increased its Huntsman stake by 794.1% in the first quarter, adding 114,451 shares to own 128,864 shares worth approximately $1.72 million. Institutional investors collectively own 84.81% of HUN.
• Analyst sentiment remains mixed but centers on a “Hold” consensus, with an average price target of $12.83. Recent targets range from $11 to $16, while Wells Fargo lowered its objective and Weiss Ratings downgraded the stock.
• CEO Peter Huntsman purchased 100,000 shares for about $981,000, while the company declared a quarterly dividend of $0.0875, representing an annualized payout of $0.35 and a 3.5% yield.

Empowered Funds LLC grew its stake in Huntsman Corporation (NYSE:HUN - Free Report) by 794.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,864 shares of the basic materials company's stock after purchasing an additional 114,451 shares during the quarter. Empowered Funds LLC owned approximately 0.07% of Huntsman worth $1,715,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Union Bancaire Privee UBP SA acquired a new stake in Huntsman in the first quarter valued at approximately $2,632,000. BNP Paribas Financial Markets grew its position in Huntsman by 236.2% in the 4th quarter. BNP Paribas Financial Markets now owns 1,182,590 shares of the basic materials company's stock worth $11,826,000 after purchasing an additional 830,828 shares in the last quarter. Dymon Asia Capital Singapore PTE. LTD. bought a new stake in shares of Huntsman in the 4th quarter worth approximately $1,001,000. Vanguard Group Inc. boosted its holdings in shares of Huntsman by 9.3% in the fourth quarter. Vanguard Group Inc. now owns 17,880,912 shares of the basic materials company's stock worth $178,809,000 after acquiring an additional 1,523,590 shares during the period. Finally, Pzena Investment Management LLC grew its position in Huntsman by 5.8% during the fourth quarter. Pzena Investment Management LLC now owns 5,705,178 shares of the basic materials company's stock worth $57,052,000 after buying an additional 311,312 shares in the last quarter. 84.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on HUN shares. Weiss Ratings cut Huntsman from a "sell (d)" rating to a "sell (d-)" rating in a research note on Monday. Wall Street Zen upgraded Huntsman from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Jefferies Financial Group set a $16.00 target price on Huntsman in a report on Friday, July 31st. Citigroup raised their target price on shares of Huntsman from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company cut their price objective on shares of Huntsman from $14.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Tuesday. One 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $12.83.

Insider Activity at Huntsman

In other Huntsman news, CEO Peter R. Huntsman bought 100,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was acquired 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 of the company's stock, valued at approximately $71,184,705.21. This 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 this link. Insiders own 6.80% of the company's stock.

Huntsman Price Performance

Huntsman stock opened at $10.14 on Friday. The company has a fifty day simple moving average of $12.18 and a 200-day simple moving average of $12.75. The stock has a market cap of $1.78 billion, a P/E ratio of -9.75 and a beta of 0.70. Huntsman Corporation has a 12-month low of $7.30 and a 12-month high of $16.08. The company has a current ratio of 1.33, a quick ratio of 0.75 and a debt-to-equity ratio of 0.59.

Huntsman Dividend Announcement

The firm also recently disclosed 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 payout ratio is currently -33.65%.

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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