Paradigm Capital Management Inc. NY Purchases New Holdings in Huntsman Corporation $HUN

Key Points

• Paradigm Capital Management acquired 478,200 Huntsman shares worth approximately $5.08 million, representing about 0.27% of the company. Several other institutional investors also initiated positions, and institutions collectively own 84.81% of Huntsman.
• Huntsman shares were trading at $9.61, down 3.7%, with a 52-week range of $7.30 to $16.08. Analysts maintain a consensus “Hold” rating with an average price target of $12.50.
• Huntsman declared a quarterly dividend of $0.0875, equivalent to $0.35 annually and a 3.6% yield. CEO Peter Huntsman also purchased 100,000 shares for approximately $981,000, increasing his stake by 1.4%.

Paradigm Capital Management Inc. NY acquired a new position in Huntsman Corporation (NYSE:HUN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 478,200 shares of the basic materials company's stock, valued at approximately $5,078,000. Paradigm Capital Management Inc. NY owned about 0.27% of Huntsman at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Cullen Capital Management LLC purchased a new position in shares of Huntsman in the second quarter valued at approximately $393,000. Algert Global LLC purchased a new stake in shares of Huntsman during the second quarter worth $1,402,000. PEAK6 LLC acquired a new stake in shares of Huntsman in the second quarter valued at about $739,000. Bank of Nova Scotia acquired a new position in Huntsman during the second quarter worth about $11,907,000. Finally, Quantbot Technologies LP purchased a new stake in Huntsman during the 2nd quarter valued at about $3,604,000. Institutional investors and hedge funds own 84.81% of the company's stock.

Huntsman Trading Down 3.7%

HUN opened at $9.61 on Tuesday. The stock has a market capitalization of $1.68 billion, a PE ratio of -9.24 and a beta of 0.70. Huntsman Corporation has a one year low of $7.30 and a one year 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 business's 50 day moving average price is $11.15 and its 200 day moving average price is $12.64.

Huntsman Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently issued reports on HUN. The Goldman Sachs Group set a $12.00 price target on Huntsman in a research report on Thursday, July 16th. Weiss Ratings lowered Huntsman from a "sell (d)" rating to a "sell (d-)" rating in a research note on Monday, August 3rd. Wall Street Zen upgraded Huntsman from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Bank of America raised their target price on Huntsman from $10.00 to $11.00 and gave the stock an "underperform" rating in a research note on Tuesday, June 30th. Finally, Mizuho reduced their price target on Huntsman from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $12.50.

Insider Activity at Huntsman

In other Huntsman news, CEO Peter R. Huntsman purchased 100,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was acquired at an average cost of $9.81 per share, for a total transaction of $981,000.00. Following the acquisition, the chief executive officer owned 7,256,341 shares in the company, valued at $71,184,705.21. This trade represents a 1.40% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.80% of the stock is currently owned by company insiders.

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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