Zacks Investment Research upgraded shares of HB Fuller (NYSE:FUL) from a hold rating to a buy rating in a report issued on Thursday morning, Zacks.com reports. They currently have $55.00 target price on the specialty chemicals company’s stock.
According to Zacks, “H.B. Fuller has been a leading global adhesives provider focusing on perfecting adhesives, sealants and other specialty chemical products to improve products and lives. H.B. Fuller’s commitment to innovation brings together people, products and processes that answer and solve some of the world’s biggest challenges. H.B. Fuller adhesives products used in manufacturing common consumer and industrial goods, including food and beverage containers, disposable diapers, windows, doors, flooring, appliances, sportswear, footwear, multi-wall bags, water filtration products, insulation, textiles, automotives, solar energy systems and electronics. H.B. Fuller also provides customers with technical support and unique solutions designed to address their specific needs. H.B. Fuller has established a variety of product offerings for residential construction markets, such as tile-setting adhesives, grout, sealants and related products. “
Other analysts also recently issued research reports about the stock. Buckingham Research set a $60.00 price target on shares of HB Fuller and gave the company a buy rating in a research note on Thursday, September 26th. G.Research reaffirmed a buy rating on shares of HB Fuller in a research note on Tuesday, October 8th. Deutsche Bank set a $50.00 price target on shares of HB Fuller and gave the company a hold rating in a research note on Friday, September 27th. Seaport Global Securities reissued a buy rating on shares of HB Fuller in a report on Tuesday. Finally, ValuEngine raised shares of HB Fuller from a sell rating to a hold rating in a report on Tuesday, December 24th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $52.60.
HB Fuller (NYSE:FUL) last posted its quarterly earnings results on Wednesday, January 22nd. The specialty chemicals company reported $0.88 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.04). HB Fuller had a net margin of 4.52% and a return on equity of 13.12%. The company had revenue of $739.10 million for the quarter, compared to the consensus estimate of $745.62 million. During the same period in the prior year, the firm posted $0.90 EPS. The business’s revenue was down 3.8% on a year-over-year basis. As a group, research analysts anticipate that HB Fuller will post 3.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Thursday, January 30th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.31%. The ex-dividend date is Wednesday, January 29th. HB Fuller’s payout ratio is 21.62%.
In related news, Director Sant R. William Van sold 10,000 shares of HB Fuller stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $51.67, for a total transaction of $516,700.00. Following the transaction, the director now directly owns 7,665 shares of the company’s stock, valued at $396,050.55. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Robert J. Martsching sold 1,700 shares of HB Fuller stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $49.29, for a total transaction of $83,793.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,710 shares of company stock worth $3,916,045. 3.46% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Morgan Stanley grew its holdings in HB Fuller by 283.1% in the second quarter. Morgan Stanley now owns 350,590 shares of the specialty chemicals company’s stock worth $16,268,000 after purchasing an additional 259,065 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in HB Fuller in the second quarter worth $9,399,000. State Street Corp grew its holdings in HB Fuller by 2.0% in the third quarter. State Street Corp now owns 4,302,290 shares of the specialty chemicals company’s stock worth $200,315,000 after purchasing an additional 83,223 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in HB Fuller in the third quarter worth $2,836,000. Finally, BlackRock Inc. grew its holdings in HB Fuller by 0.8% in the second quarter. BlackRock Inc. now owns 7,608,478 shares of the specialty chemicals company’s stock worth $353,034,000 after purchasing an additional 57,608 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.
HB Fuller Company Profile
H.B. Fuller Company, together with its subsidiaries, formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, and other specialty chemical products worldwide. The company operates through five segments: Americas Adhesives, EIMEA, Asia Pacific, Construction Adhesives, and Engineering Adhesives.
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