H.B. Fuller (NYSE:FUL) Posts Earnings Results

H.B. Fuller (NYSE:FUL) issued its quarterly earnings results on Wednesday. The specialty chemicals company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03, Briefing.com reports. The company had revenue of $810.42 million for the quarter, compared to analyst estimates of $823.04 million. H.B. Fuller had a return on equity of 12.97% and a net margin of 4.39%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 EPS. 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 Price Performance

NYSE FUL opened at $79.72 on Friday. H.B. Fuller has a 12 month low of $62.57 and a 12 month high of $84.31. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.89 and a quick ratio of 1.26. The firm has a market capitalization of $4.32 billion, a PE ratio of 28.99, a P/E/G ratio of 1.31 and a beta of 1.52. The company’s 50 day simple moving average is $78.32 and its 200 day simple moving average is $75.33.

H.B. Fuller Dividend Announcement

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

Analysts Set New Price Targets

FUL has been the subject of several recent research reports. StockNews.com upgraded H.B. Fuller from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Stifel Nicolaus increased their price target on shares of H.B. Fuller from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. Robert W. Baird reissued a “neutral” rating and issued a $80.00 target price on shares of H.B. Fuller in a report on Friday, January 19th. Finally, Vertical Research initiated coverage on shares of H.B. Fuller in a report on Tuesday, March 19th. They issued a “buy” rating and a $88.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, H.B. Fuller presently has an average rating of “Hold” and a consensus price target of $84.20.

Insider Activity at H.B. Fuller

In other H.B. Fuller news, VP Muhammad Shahbaz Malik sold 14,000 shares of H.B. Fuller 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 in the company, valued at $693,308.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other H.B. Fuller news, VP Muhammad Shahbaz Malik sold 14,000 shares of H.B. Fuller stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $76.28, for a total transaction of $1,067,920.00. Following the transaction, the vice president now directly owns 9,089 shares in the company, valued at approximately $693,308.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Heather Campe sold 3,450 shares of H.B. Fuller 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 transaction, the vice president now owns 19,736 shares in the company, valued at $1,516,316.88. The disclosure for this sale can be found here. Insiders have sold 30,693 shares of company stock worth $2,353,357 over the last quarter. 1.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On H.B. Fuller

Several institutional investors and hedge funds have recently added to or reduced their stakes in FUL. MetLife Investment Management LLC lifted its stake in shares of H.B. Fuller by 55.7% in the 1st quarter. MetLife Investment Management LLC now owns 27,833 shares of the specialty chemicals company’s stock valued at $1,839,000 after purchasing an additional 9,960 shares during the last quarter. Luminus Management LLC bought a new stake in H.B. Fuller in the first quarter valued at about $3,396,000. UBS Asset Management Americas Inc. increased its stake in H.B. Fuller by 4.9% in the second quarter. UBS Asset Management Americas Inc. now owns 66,538 shares of the specialty chemicals company’s stock valued at $4,006,000 after acquiring an additional 3,081 shares during the period. Eagle Bay Advisors LLC acquired a new position in H.B. Fuller in the second quarter valued at about $33,000. Finally, Marshall Wace LLP acquired a new position in H.B. Fuller in the third quarter valued at about $701,000. 95.93% of the stock is currently owned by hedge funds and other 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.