NewEdge Wealth LLC Acquires Shares of 9,772 Hawkins, Inc. $HWKN

NewEdge Wealth LLC bought a new position in shares of Hawkins, Inc. (NASDAQ:HWKN) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 9,772 shares of the specialty chemicals company’s stock, valued at approximately $1,389,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new stake in Hawkins in the 4th quarter valued at $29,000. MBM Wealth Consultants LLC acquired a new position in Hawkins during the first quarter worth $33,000. Simplex Trading LLC lifted its holdings in Hawkins by 246.0% during the fourth quarter. Simplex Trading LLC now owns 346 shares of the specialty chemicals company’s stock valued at $49,000 after purchasing an additional 246 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Hawkins in the third quarter valued at about $79,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Hawkins during the fourth quarter worth about $93,000. Hedge funds and other institutional investors own 69.71% of the company’s stock.

Hawkins Price Performance

HWKN stock opened at $118.99 on Friday. Hawkins, Inc. has a 1 year low of $117.98 and a 1 year high of $186.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.27 and a quick ratio of 1.54. The firm has a market capitalization of $2.48 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 2.46 and a beta of 0.79. The business has a 50 day simple moving average of $140.27 and a 200-day simple moving average of $147.56.

Hawkins (NASDAQ:HWKN) last announced its quarterly earnings data on Wednesday, July 29th. The specialty chemicals company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.04). The company had revenue of $315.68 million for the quarter, compared to analysts’ expectations of $313.42 million. Hawkins had a return on equity of 15.42% and a net margin of 7.29%. Equities research analysts anticipate that Hawkins, Inc. will post 4.04 earnings per share for the current fiscal year.

Hawkins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, August 14th. Hawkins’s payout ratio is currently 20.73%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on HWKN shares. Weiss Ratings downgraded shares of Hawkins from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 14th. BWS Financial reiterated a “buy” rating and set a $200.00 price objective on shares of Hawkins in a research note on Monday, August 3rd. Barclays set a $142.00 target price on Hawkins and gave the company an “equal weight” rating in a report on Friday, July 31st. Finally, Zacks Research downgraded Hawkins from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $171.00.

Hawkins Company Profile

Hawkins, Inc (NASDAQ: HWKN) is a specialty chemical company that produces and distributes water-treatment and industrial chemicals across North America. Founded in 1938 and headquartered in Roseville, Minnesota, the company has built a network of manufacturing facilities and distribution centers that serve municipal, industrial and commercial customers. As a publicly traded entity, Hawkins leverages its long-standing presence in the chemical distribution industry to provide tailored solutions for complex water-treatment challenges and specialty chemical needs.

Hawkins’ product portfolio encompasses a wide range of chemicals, including sodium hypochlorite, sodium hydroxide, hydrogen peroxide, chlorine, acids and specialty blends.