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

H.B. Fuller (NYSE:FUL) released its quarterly earnings data on Wednesday. The specialty chemicals company reported $0.67 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $823.04 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The business’s revenue was up .2% on a year-over-year basis. 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 3.4 %

Shares of FUL traded down $2.84 during trading hours on Friday, hitting $79.74. The company had a trading volume of 757,823 shares, compared to its average volume of 264,586. The firm has a fifty day moving average price of $78.32 and a 200-day moving average price of $75.33. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.26 and a current ratio of 1.89. 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. H.B. Fuller has a 52-week low of $62.57 and a 52-week high of $84.31.

H.B. Fuller Announces Dividend

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%.

Insider Transactions at H.B. Fuller

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. boosted its stake 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 period. 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 valued at $1,251,000 after buying an additional 933 shares during the period. Kennedy Capital Management LLC raised its holdings in H.B. Fuller by 14.5% during the 2nd quarter. Kennedy Capital Management LLC now owns 68,945 shares of the specialty chemicals company’s stock valued at $4,930,000 after buying an additional 8,707 shares during the period. Marshall Wace LLP raised its holdings in H.B. Fuller by 150.1% during the 2nd quarter. Marshall Wace LLP now owns 34,336 shares of the specialty chemicals company’s stock valued at $2,455,000 after buying an additional 20,608 shares during the period. Finally, Geode Capital Management LLC increased its stake in H.B. Fuller by 5.8% in the first quarter. Geode Capital Management LLC now owns 999,922 shares of the specialty chemicals company’s stock worth $68,445,000 after purchasing an additional 55,005 shares during the period. 95.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FUL shares. Vertical Research started coverage on shares of H.B. Fuller in a research note on Tuesday, March 19th. They issued a “buy” rating and a $88.00 target price for the company. Stifel Nicolaus upped their target price on shares of H.B. Fuller from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Robert W. Baird reissued a “neutral” rating and set a $80.00 price target on shares of H.B. Fuller in a research note on Friday, January 19th. Finally, StockNews.com raised shares of H.B. Fuller from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, H.B. Fuller currently has a consensus rating of “Hold” and an average price target of $84.20.

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.