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 earnings per share (EPS) guidance of 4.150-4.450 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FUL. Stifel Nicolaus lifted 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 report on Friday, January 19th. Robert W. Baird restated a neutral rating and set a $80.00 price target on shares of H.B. Fuller in a report on Friday, January 19th. StockNews.com upgraded shares of H.B. Fuller from a hold rating to a buy rating in a report on Thursday, January 18th. Finally, Vertical Research started coverage on shares of H.B. Fuller in a report on Tuesday, March 19th. They set a buy rating and a $88.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $84.20.

H.B. Fuller Price Performance

NYSE FUL opened at $82.60 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.89 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $4.48 billion, a PE ratio of 31.89, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The company has a 50 day moving average price of $78.28 and a two-hundred day moving average price of $75.30. H.B. Fuller has a 12-month low of $62.57 and a 12-month high of $83.64.

H.B. Fuller (NYSE:FUL) last posted its earnings results on Wednesday, March 27th. The specialty chemicals company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. H.B. Fuller had a net margin of 4.13% and a return on equity of 12.73%. The firm had revenue of $810.42 million during the quarter, compared to analysts’ expectations of $823.04 million. During the same period in the previous year, the company earned $0.55 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts predict that H.B. Fuller will post 4.35 earnings per share for the current fiscal year.

H.B. Fuller Announces Dividend

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

Insider Activity

In other H.B. Fuller 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 directly owns 20,406 shares in the company, valued at approximately $1,572,282.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Heather Campe sold 13,243 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now directly owns 20,406 shares of the company’s stock, valued at approximately $1,572,282.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Muhammad Shahbaz Malik sold 14,000 shares of the 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 completion of the sale, the vice president now directly owns 9,089 shares of the company’s stock, valued at approximately $693,308.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,693 shares of company stock worth $2,353,357. Corporate insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in H.B. Fuller by 5.8% during the 1st quarter. Geode Capital Management LLC now owns 999,922 shares of the specialty chemicals company’s stock worth $68,445,000 after buying an additional 55,005 shares during the period. Ameriprise Financial Inc. increased its position in H.B. Fuller by 25.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 425,162 shares of the specialty chemicals company’s stock worth $29,170,000 after buying an additional 85,716 shares during the period. Kennedy Capital Management LLC increased its position 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 worth $4,930,000 after buying an additional 8,707 shares during the period. UBS Asset Management Americas Inc. increased its position 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 buying an additional 3,081 shares during the period. Finally, Credit Suisse AG increased its position in H.B. Fuller by 31.1% during the 4th quarter. Credit Suisse AG now owns 59,899 shares of the specialty chemicals company’s stock worth $4,290,000 after buying an additional 14,205 shares during the period. Institutional investors own 95.93% of the company’s stock.

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.