Hsbc Holdings PLC Reduces Stake in Huntsman Corporation $HUN

Key Points

• HSBC cut its Huntsman stake by 52.7% in the second quarter, selling 302,430 shares and retaining 271,965 shares valued at approximately $2.85 million. Institutional investors collectively own 84.81% of HUN.
• Huntsman shares opened at $9.52, well below their 50-day and 200-day moving averages, while analysts maintain a consensus “Reduce” rating with a $12.50 target price.
• The company declared a quarterly dividend of $0.0875 per share, representing an annualized dividend of $0.35 and a 3.7% yield. CEO Peter Huntsman also purchased 100,000 shares, increasing his ownership by 1.4%.

Hsbc Holdings PLC lessened its position in shares of Huntsman Corporation (NYSE:HUN - Free Report) by 52.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 271,965 shares of the basic materials company's stock after selling 302,430 shares during the quarter. Hsbc Holdings PLC owned 0.16% of Huntsman worth $2,854,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc grew its stake in shares of Huntsman by 166.7% during the 2nd quarter. Versant Capital Management Inc now owns 2,672 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 1,670 shares during the period. Global Retirement Partners LLC bought a new position in shares of Huntsman in the 2nd quarter worth approximately $45,000. Allworth Financial LP purchased a new position in shares of Huntsman in the second quarter worth approximately $52,000. Advisory Services Network LLC bought a new stake in Huntsman during the third quarter valued at approximately $58,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Huntsman by 121.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 6,751 shares of the basic materials company's stock valued at $61,000 after buying an additional 3,706 shares during the last quarter. Institutional investors own 84.81% of the company's stock.

Huntsman Stock Down 0.6%

Shares of HUN opened at $9.52 on Friday. The business's 50 day moving average is $10.65 and its 200 day moving average is $12.30. The company has a market capitalization of $1.67 billion, a PE ratio of -9.16 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 0.78 and a debt-to-equity ratio of 0.59.

Huntsman Announces Dividend

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

Analysts Set New Price Targets

HUN has been the subject of several analyst reports. UBS Group reduced their price objective on Huntsman from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Monday, August 3rd. Weiss Ratings cut Huntsman from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday, August 3rd. Royal Bank Of Canada cut their price objective on Huntsman from $11.00 to $10.00 and set a "sector perform" rating for the company in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $11.00 target price on shares of Huntsman in a report on Thursday, August 20th. Finally, Wells Fargo & Company lowered their price target 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. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Huntsman has a consensus rating of "Reduce" and a consensus target price of $12.50.

Insider Activity

In related news, CEO Peter R. Huntsman bought 100,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were purchased at an average price of $9.81 per share, with a total value of $981,000.00. Following the completion of the acquisition, the chief executive officer owned 7,256,341 shares of the company's stock, valued at $71,184,705.21. This represents a 1.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.80% of the stock is currently owned by insiders.

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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