H.B. Fuller (NYSE:FUL) Issues FY24 Earnings Guidance

H.B. Fuller (NYSE:FUL) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $4.15-4.45 for the period, compared to the consensus estimate of $4.31. The company issued revenue guidance of $3.58-$3.72 billion, compared to the consensus revenue estimate of $3.63 billion. H.B. Fuller also updated its FY 2024 guidance to 4.150-4.450 EPS.

H.B. Fuller Stock Down 3.5 %

Shares of H.B. Fuller stock opened at $79.72 on Friday. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 28.99, a P/E/G ratio of 1.31 and a beta of 1.52. The company’s 50 day moving average price is $78.32 and its 200-day moving average price is $75.33. H.B. Fuller has a 52-week low of $62.57 and a 52-week high of $84.31. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.26 and a current ratio of 1.89.

H.B. Fuller (NYSE:FUL) last released its quarterly earnings results on Wednesday, March 27th. The specialty chemicals company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.03. The business had revenue of $810.42 million for the quarter, compared to analysts’ expectations of $823.04 million. H.B. Fuller had a net margin of 4.39% and a return on equity of 12.97%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 earnings per share. Equities research analysts forecast that H.B. Fuller will post 4.35 EPS for the current year.

H.B. Fuller Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 7th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 1.03%. The ex-dividend date was Tuesday, February 6th. H.B. Fuller’s dividend payout ratio is currently 29.82%.

Wall Street Analyst Weigh In

Several equities analysts have commented on FUL shares. Robert W. Baird reissued a neutral rating and set a $80.00 price objective on shares of H.B. Fuller in a research report on Friday, January 19th. Vertical Research initiated coverage on H.B. Fuller in a research report on Tuesday, March 19th. They issued a buy rating and a $88.00 price target for the company. StockNews.com raised H.B. Fuller from a hold rating to a buy rating in a research report on Thursday, January 18th. Finally, Stifel Nicolaus lifted their price target on H.B. Fuller from $110.00 to $115.00 and gave the stock a buy rating in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $84.20.

Insiders Place Their Bets

In other H.B. Fuller news, VP Muhammad Shahbaz Malik sold 14,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $76.28, for a total value of $1,067,920.00. Following the completion of the transaction, the vice president now owns 9,089 shares of the company’s stock, valued at approximately $693,308.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Heather Campe sold 3,450 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $76.83, for a total transaction of $265,063.50. Following the completion of the transaction, the vice president now directly owns 19,736 shares in the company, valued at approximately $1,516,316.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Muhammad Shahbaz Malik sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $76.28, for a total value of $1,067,920.00. Following the transaction, the vice president now owns 9,089 shares of the company’s stock, valued at $693,308.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,693 shares of company stock valued at $2,353,357. 1.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Eagle Bay Advisors LLC bought a new position in shares of H.B. Fuller during the 2nd quarter valued at approximately $33,000. Teachers Retirement System of The State of Kentucky grew its stake in shares of H.B. Fuller by 5.6% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 17,496 shares of the specialty chemicals company’s stock valued at $1,251,000 after acquiring an additional 933 shares during the period. State of Tennessee Treasury Department raised its holdings in shares of H.B. Fuller by 13.0% during the 4th quarter. State of Tennessee Treasury Department now owns 23,424 shares of the specialty chemicals company’s stock worth $1,677,000 after acquiring an additional 2,699 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of H.B. Fuller by 4.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 66,538 shares of the specialty chemicals company’s stock worth $4,006,000 after acquiring an additional 3,081 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of H.B. Fuller during the 4th quarter worth approximately $418,000. 95.93% of the stock is currently owned by institutional investors.

H.B. Fuller Company Profile

H.B. Fuller Company, together with its subsidiaries, formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, additives, and other specialty chemical products in North America, Europe, Latin America, Asia Pacific, India, the Middle East, Africa, and internationally.