Ballast Asset Management LP acquired a new stake in Huntsman Co. (NYSE:HUN – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 83,584 shares of the basic materials company’s stock, valued at approximately $2,039,000. Huntsman comprises approximately 1.9% of Ballast Asset Management LP’s holdings, making the stock its 25th largest position.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HUN. Brown Brothers Harriman & Co. bought a new position in shares of Huntsman during the first quarter worth about $30,000. GeoWealth Management LLC bought a new position in shares of Huntsman during the first quarter worth about $49,000. Gyon Technologies Capital Management LP bought a new position in shares of Huntsman during the fourth quarter worth about $56,000. Tower Research Capital LLC TRC lifted its position in shares of Huntsman by 611.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,511 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 2,158 shares during the last quarter. Finally, Worth Asset Management LLC bought a new position in shares of Huntsman during the first quarter worth about $89,000. 83.44% of the stock is owned by hedge funds and other institutional investors.
Huntsman Price Performance
Shares of NYSE HUN traded up $0.29 during mid-day trading on Wednesday, reaching $24.62. 2,382,033 shares of the company traded hands, compared to its average volume of 1,850,222. Huntsman Co. has a fifty-two week low of $22.14 and a fifty-two week high of $30.51. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.88 and a quick ratio of 1.14. The firm has a market cap of $4.29 billion, a PE ratio of 53.52 and a beta of 1.13. The stock has a fifty day simple moving average of $24.50 and a 200-day simple moving average of $24.89.
Analysts Set New Price Targets
A number of equities analysts have issued reports on HUN shares. Royal Bank of Canada cut their target price on shares of Huntsman from $21.00 to $20.00 and set a “sector perform” rating on the stock in a report on Monday, January 22nd. JPMorgan Chase & Co. cut their target price on shares of Huntsman from $25.00 to $22.00 and set an “underweight” rating on the stock in a report on Thursday, November 2nd. Stifel Nicolaus cut their target price on shares of Huntsman from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. Morgan Stanley reissued an “equal weight” rating and issued a $28.00 target price on shares of Huntsman in a report on Monday, December 11th. Finally, UBS Group cut their target price on shares of Huntsman from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Huntsman has a consensus rating of “Hold” and an average target price of $25.30.
Get Our Latest Stock Analysis on HUN
Huntsman Profile
Huntsman Corporation manufactures and sells diversified organic chemical products worldwide. The company operates through three segments: Polyurethanes, Performance Products, and Advanced Materials. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyether and polyester polyols, and thermoplastic polyurethane.
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