Pzena Investment Management LLC Takes Position in Huntsman Corporation $HUN

Key Points

• Pzena Investment Management acquired 5.16 million Huntsman shares worth approximately $54.8 million, representing a 2.94% stake. Institutional investors collectively own 84.81% of HUN.
• Huntsman CEO Peter Huntsman bought 100,000 shares at $9.81 each, increasing his direct ownership by 1.4%; insiders now own 6.8% of the company.
• Analysts maintain a broadly cautious view, with the stock carrying an average “Hold” rating and a $12.83 price target. HUN opened at $10.32 and offers a quarterly dividend of $0.0875, or a 3.4% annualized yield.

Pzena Investment Management LLC purchased a new stake in shares of Huntsman Corporation (NYSE:HUN - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,161,672 shares of the basic materials company's stock, valued at approximately $54,817,000. Pzena Investment Management LLC owned 2.94% of Huntsman as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of HUN. BlackRock Inc. bought a new position in Huntsman during the second quarter valued at $193,750,000. UBS Group AG grew its position in Huntsman by 83.5% in the 3rd quarter. UBS Group AG now owns 7,364,206 shares of the basic materials company's stock valued at $66,131,000 after acquiring an additional 3,351,265 shares during the last quarter. AQR Capital Management LLC increased its stake in 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 worth $106,878,000 after purchasing an additional 2,772,563 shares during the period. Two Sigma Investments LP increased its stake in 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 worth $25,517,000 after purchasing an additional 2,348,598 shares during the period. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Huntsman during the second quarter worth $21,953,000. 84.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Huntsman

In other Huntsman news, CEO Peter R. Huntsman bought 100,000 shares of the company's stock in a transaction on 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 acquisition, the chief executive officer directly owned 7,256,341 shares in the company, valued at approximately $71,184,705.21. The trade was a 1.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HUN. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $15.00 target price on shares of Huntsman in a research note on Tuesday, May 19th. UBS Group decreased their price objective on shares of Huntsman from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. 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. Citigroup upped their target price on shares of Huntsman from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. Finally, Weiss Ratings lowered shares of Huntsman from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $12.83.

Huntsman Price Performance

HUN opened at $10.32 on Tuesday. 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. The business's fifty day simple moving average is $11.67 and its 200-day simple moving average is $12.69. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -9.92 and a beta of 0.70.

Huntsman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.0875 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.35 dividend on an annualized basis and a yield of 3.4%. Huntsman's dividend payout ratio is -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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