Wellington Management Group LLP Lowers Holdings in Huntsman Corporation $HUN

Key Points

• Wellington Management reduced its Huntsman stake by 8.4% in the second quarter, selling 153,806 shares and retaining 1.69 million shares valued at approximately $17.9 million. Institutional investors collectively own 84.81% of HUN.
• Huntsman CEO Peter Huntsman purchased 100,000 shares for about $981,000, increasing his ownership by 1.4%. The company also declared a quarterly dividend of $0.0875 per share, representing a 3.6% annualized yield.
• Analyst sentiment remains cautious, with the stock carrying an overall “Hold” rating and an average price target of $12.50; HUN recently opened at $9.62, below its 50-day and 200-day moving averages.

Wellington Management Group LLP trimmed its position in Huntsman Corporation (NYSE:HUN - Free Report) by 8.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,687,370 shares of the basic materials company's stock after selling 153,806 shares during the period. Wellington Management Group LLP owned 0.96% of Huntsman worth $17,920,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Deutsche Bank AG bought a new stake in Huntsman during the second quarter valued at $6,773,000. Empowered Funds LLC increased its stake in Huntsman by 794.1% in the 1st quarter. Empowered Funds LLC now owns 128,864 shares of the basic materials company's stock worth $1,715,000 after acquiring an additional 114,451 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Huntsman in the 1st quarter valued at about $2,632,000. Kintayl Capital LP bought a new stake in shares of Huntsman during the 2nd quarter valued at about $3,800,000. Finally, Old West Investment Management LLC bought a new stake in shares of Huntsman during the 2nd quarter valued at about $1,401,000. 84.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Huntsman

In other Huntsman news, CEO Peter R. Huntsman bought 100,000 shares of Huntsman stock in a transaction that occurred on Monday, August 3rd. The shares were bought at an average price of $9.81 per share, with a total value of $981,000.00. Following the acquisition, the chief executive officer owned 7,256,341 shares in the company, valued at approximately $71,184,705.21. This trade 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 at the SEC website. Insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. The Goldman Sachs Group set a $12.00 price objective on shares of Huntsman in a research report on Thursday, July 16th. Weiss Ratings lowered shares of Huntsman from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday, August 3rd. Bank of America increased their price target on shares of Huntsman from $10.00 to $11.00 and gave the stock an "underperform" rating in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $11.00 price objective on shares of Huntsman in a research report on Thursday, August 20th. Finally, UBS Group dropped 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. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $12.50.

Huntsman Stock Performance

NYSE:HUN opened at $9.62 on Monday. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -9.25 and a beta of 0.70. The business has a 50 day moving average of $10.74 and a 200 day moving average of $12.39. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.33 and a quick ratio of 0.78. Huntsman Corporation has a 1-year low of $7.30 and a 1-year high of $16.08.

Huntsman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders 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 3.6%. The ex-dividend date is Tuesday, September 15th. Huntsman's payout ratio is presently -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.

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