H.B. Fuller (NYSE:FUL) Releases FY 2024 Earnings Guidance

H.B. Fuller (NYSE:FUL) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 4.150-4.450 for the period, compared to the consensus EPS estimate of 4.310. The company issued revenue guidance of $3.6 billion-$3.7 billion, compared to the consensus revenue estimate of $3.6 billion. H.B. Fuller also updated its FY24 guidance to $4.15-4.45 EPS.

H.B. Fuller Stock Performance

Shares of H.B. Fuller stock traded up $2.23 during midday trading on Wednesday, hitting $82.60. The company had a trading volume of 642,090 shares, compared to its average volume of 287,882. The business’s 50 day simple moving average is $78.16 and its two-hundred day simple moving average is $75.25. The stock has a market cap of $4.48 billion, a PE ratio of 31.88, a P/E/G ratio of 1.26 and a beta of 1.52. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.89 and a quick ratio of 1.26. H.B. Fuller has a 1-year low of $62.57 and a 1-year high of $83.64.

H.B. Fuller (NYSE:FUL) last announced its quarterly earnings data on Thursday, January 18th. The specialty chemicals company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.05. The business had revenue of $903.00 million for the quarter, compared to the consensus estimate of $929.85 million. H.B. Fuller had a net margin of 4.13% and a return on equity of 12.73%. H.B. Fuller’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the company posted $1.04 earnings per share. As a group, equities analysts predict that H.B. Fuller will post 4.35 EPS for the current fiscal year.

H.B. Fuller Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th were given a $0.205 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $0.82 annualized dividend and a yield of 0.99%. H.B. Fuller’s dividend payout ratio (DPR) is currently 31.66%.

Analyst Upgrades and Downgrades

FUL has been the subject of several research reports. 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 target price for the company. 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. Stifel Nicolaus boosted their target price on shares of H.B. Fuller from $110.00 to $115.00 and gave the company a buy rating in a research note on Friday, January 19th. Finally, StockNews.com upgraded shares of H.B. Fuller from a hold rating to a buy rating in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock 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 dated Wednesday, January 24th. The shares were sold at an average price of $77.05, for a total transaction of $1,020,373.15. Following the transaction, the vice president now owns 20,406 shares in the company, valued at approximately $1,572,282.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Heather Campe sold 13,243 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $77.05, for a total transaction of $1,020,373.15. Following the transaction, the vice president now owns 20,406 shares in the company, valued at approximately $1,572,282.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Muhammad Shahbaz Malik sold 14,000 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 9,089 shares in the company, valued at approximately $693,308.92. The disclosure for this sale can be found here. Insiders have sold a total of 30,693 shares of company stock worth $2,353,357 in the last 90 days. Corporate insiders own 1.96% of the company’s stock.

Institutional Trading of H.B. Fuller

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC bought a new stake in H.B. Fuller during the 2nd quarter worth about $33,000. Teachers Retirement System of The State of Kentucky raised its holdings in 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 worth $1,251,000 after purchasing an additional 933 shares during the last quarter. State of Tennessee Treasury Department raised its holdings in 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 purchasing an additional 2,699 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in 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 purchasing an additional 3,081 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in H.B. Fuller during the 4th quarter worth about $418,000. 95.93% of the stock is owned by institutional investors.

About H.B. Fuller

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.