H.B. Fuller (NYSE:FUL) Issues Quarterly Earnings Results

H.B. Fuller (NYSE:FUL) issued its quarterly earnings data on Wednesday. The specialty chemicals company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.64 by $0.03, Briefing.com reports. H.B. Fuller had a net margin of 4.39% and a return on equity of 12.97%. The firm had revenue of $810.42 million during the quarter, compared to the consensus estimate of $823.04 million. During the same period in the prior year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. H.B. Fuller updated its FY24 guidance to $4.15-4.45 EPS and its FY 2024 guidance to 4.150-4.450 EPS.

H.B. Fuller Stock Down 3.5 %

Shares of NYSE:FUL opened at $79.72 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.89 and a debt-to-equity ratio of 1.05. The business has a fifty day moving average of $78.32 and a two-hundred day moving average of $75.33. H.B. Fuller has a 52-week low of $62.57 and a 52-week high of $84.31. The stock has a market cap of $4.32 billion, a P/E ratio of 28.99, a PEG ratio of 1.31 and a beta of 1.52.

H.B. Fuller Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th were given a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.82 annualized dividend and a dividend yield of 1.03%. H.B. Fuller’s dividend payout ratio (DPR) is presently 29.82%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 target price on shares of H.B. Fuller in a research report on Friday, January 19th. StockNews.com raised H.B. Fuller from a “hold” rating to a “buy” rating in a research report on Thursday, January 18th. Vertical Research began coverage on shares of H.B. Fuller in a research report on Tuesday, March 19th. They set a “buy” rating and a $88.00 price objective on the stock. Finally, Stifel Nicolaus increased their price target on H.B. Fuller from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, H.B. Fuller has a consensus rating of “Hold” and an average target price of $84.20.

Insider Buying and Selling

In related news, VP Heather Campe sold 13,243 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $77.05, for a total value of $1,020,373.15. Following the completion of the transaction, the vice president now directly owns 20,406 shares of the company’s stock, valued at $1,572,282.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Muhammad Shahbaz Malik sold 14,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $76.28, for a total transaction of $1,067,920.00. Following the sale, the vice president now owns 9,089 shares in the company, valued at $693,308.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Heather Campe sold 13,243 shares of H.B. Fuller stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $77.05, for a total value of $1,020,373.15. Following the sale, the vice president now directly owns 20,406 shares in the company, valued at $1,572,282.30. The disclosure for this sale can be found here. Insiders have sold a total of 30,693 shares of company stock valued at $2,353,357 in the last ninety days. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its position in H.B. Fuller by 25.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 425,162 shares of the specialty chemicals company’s stock worth $29,170,000 after purchasing an additional 85,716 shares during the last quarter. Geode Capital Management LLC raised its position in H.B. Fuller by 5.8% during the first quarter. Geode Capital Management LLC now owns 999,922 shares of the specialty chemicals company’s stock valued at $68,445,000 after acquiring an additional 55,005 shares in the last quarter. Luminus Management LLC bought a new position in H.B. Fuller during the first quarter valued at approximately $3,396,000. Marshall Wace LLP lifted its stake in H.B. Fuller by 150.1% in the second quarter. Marshall Wace LLP now owns 34,336 shares of the specialty chemicals company’s stock valued at $2,455,000 after acquiring an additional 20,608 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in H.B. Fuller in the third quarter worth approximately $996,000. 95.93% of the stock is owned by institutional investors and hedge funds.

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.