Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in Huntsman Corporation $HUN

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Huntsman Corporation (NYSE:HUN) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 54,852 shares of the basic materials company’s stock, valued at approximately $583,000.

Several other hedge funds have also recently bought and sold shares of the company. AMG National Trust Bank bought a new position in Huntsman in the 2nd quarter worth about $132,000. Old West Investment Management LLC acquired a new stake in shares of Huntsman in the second quarter valued at approximately $1,401,000. Global Retirement Partners LLC bought a new stake in shares of Huntsman during the second quarter valued at approximately $45,000. Bank of New York Mellon Corp bought a new stake in shares of Huntsman during the second quarter valued at approximately $8,045,000. Finally, State of Wyoming acquired a new position in shares of Huntsman during the second quarter worth approximately $315,000. 84.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Peter R. Huntsman bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was acquired at an average price of $9.81 per share, with a total value of $981,000.00. Following the completion of the purchase, the chief executive officer directly owned 7,256,341 shares of the company’s stock, valued at $71,184,705.21. This represents a 1.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 6.80% of the stock is owned by corporate insiders.

Huntsman Price Performance

Shares of NYSE:HUN opened at $9.99 on Friday. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -9.61 and a beta of 0.70. 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 12 month low of $7.30 and a 12 month high of $16.08. The stock’s 50 day moving average price is $11.28 and its 200 day moving average price is $12.65.

Huntsman Dividend Announcement

The company 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. The ex-dividend date is Tuesday, September 15th. This represents a $0.35 annualized dividend and a dividend yield of 3.5%. Huntsman’s dividend payout ratio is -33.65%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Weiss Ratings cut Huntsman from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, August 3rd. Morgan Stanley boosted their price target on Huntsman from $11.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group set a $12.00 price target on Huntsman in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $11.00 price target on shares of Huntsman in a report on Thursday. Finally, Wall Street Zen raised shares of Huntsman from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One 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 given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.50.

About Huntsman

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.