Man Group plc Acquires Shares of 1,081,415 Huntsman Corporation $HUN

Key Points

• Man Group plc acquired 1,081,415 Huntsman shares in the second quarter, worth approximately $11.5 million and representing about 0.62% of the company.
• Institutional ownership remains high at 84.81%, while CEO Peter Huntsman purchased 100,000 shares for $981,000, increasing his stake by 1.4%.
• Huntsman carries a consensus “Hold” rating with a $12.50 price target; shares opened at $9.49, and the company declared a quarterly dividend of $0.0875, yielding about 3.7% annually.

Man Group plc acquired a new stake in shares of Huntsman Corporation (NYSE:HUN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,081,415 shares of the basic materials company's stock, valued at approximately $11,485,000. Man Group plc owned about 0.62% of Huntsman at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in HUN. BlackRock Inc. bought a new position in Huntsman in the 2nd quarter valued at about $193,750,000. Pzena Investment Management LLC bought a new stake in Huntsman during the 2nd quarter worth approximately $54,817,000. UBS Group AG raised its stake in shares of Huntsman by 83.5% in the third 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 during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Huntsman by 29.8% in the third 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 in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Huntsman by 476.5% in the third 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 in the last quarter. Institutional investors and hedge funds own 84.81% of the company's stock.

Insiders Place Their Bets

In related news, CEO Peter R. Huntsman purchased 100,000 shares of Huntsman stock in a transaction that occurred on Monday, August 3rd. The stock was bought at an average price of $9.81 per share, for a total transaction of $981,000.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 6.80% of the company's stock.

Wall Street Analyst Weigh In

HUN has been the subject of several recent research reports. UBS Group decreased their price target on Huntsman from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. Mizuho cut their price objective on shares of Huntsman from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Wednesday, July 1st. Royal Bank Of Canada reduced 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. Weiss Ratings downgraded shares of Huntsman from a "sell (d)" rating to a "sell (d-)" rating in a report on Monday, August 3rd. Finally, Jefferies Financial Group set a $16.00 price target on shares of Huntsman in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Huntsman presently has an average rating of "Hold" and a consensus target price of $12.50.

Huntsman Stock Down 1.7%

HUN stock opened at $9.49 on Friday. The stock has a market cap of $1.66 billion, a P/E ratio of -9.12 and a beta of 0.70. The company has a current ratio of 1.33, a quick ratio of 0.78 and a debt-to-equity ratio of 0.59. The stock's fifty day simple moving average is $10.92 and its two-hundred day simple moving average is $12.53. Huntsman Corporation has a 1-year low of $7.30 and a 1-year high of $16.08.

Huntsman Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Huntsman's payout ratio is -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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source