H.B. Fuller (NYSE:FUL) Issues Earnings Results

H.B. Fuller (NYSE:FUL) announced its quarterly earnings data on Wednesday. The specialty chemicals company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03, Briefing.com reports. The company had revenue of $810.42 million for the quarter, compared to analysts’ expectations of $823.04 million. H.B. Fuller had a return on equity of 12.97% and a net margin of 4.39%. H.B. Fuller’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm posted $0.55 EPS. 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 3.5 %

H.B. Fuller stock opened at $79.72 on Friday. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 1.31 and a beta of 1.52. The company has a current ratio of 1.89, a quick ratio of 1.26 and a debt-to-equity ratio of 1.05. H.B. Fuller has a 12 month low of $62.57 and a 12 month high of $84.31. The stock has a fifty day simple moving average of $78.32 and a two-hundred day simple moving average of $75.33.

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 was Tuesday, February 6th. This represents a $0.82 annualized dividend and a dividend yield of 1.03%. H.B. Fuller’s dividend payout ratio is presently 29.82%.

Analyst Ratings Changes

FUL has been the subject of several recent 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 price objective for the company. Robert W. Baird reissued a “neutral” rating and set a $80.00 price target on shares of H.B. Fuller in a research report on Friday, January 19th. StockNews.com upgraded shares of H.B. Fuller from a “hold” rating to a “buy” rating in a research report on Thursday, January 18th. Finally, Stifel Nicolaus boosted their price target on H.B. Fuller from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $84.20.

Insiders Place Their Bets

In related news, VP Muhammad Shahbaz Malik sold 14,000 shares of the firm’s 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 sale, the vice president now owns 9,089 shares in the company, valued at $693,308.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Muhammad Shahbaz Malik sold 14,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $76.28, for a total transaction of $1,067,920.00. Following the completion of the sale, the vice president now owns 9,089 shares of the company’s stock, valued at approximately $693,308.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Heather Campe sold 3,450 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $76.83, for a total value of $265,063.50. Following the sale, the vice president now directly owns 19,736 shares of the company’s stock, valued at approximately $1,516,316.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,693 shares of company stock valued at $2,353,357. 1.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Eagle Bay Advisors LLC bought a new stake in shares of H.B. Fuller during the second quarter valued at approximately $33,000. Campbell & CO Investment Adviser LLC bought a new stake in H.B. Fuller in the 4th quarter valued at $418,000. Marshall Wace LLP purchased a new stake in H.B. Fuller in the 3rd quarter worth $701,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of H.B. Fuller during the 3rd quarter valued at about $996,000. Finally, State of Tennessee Treasury Department grew its position in shares of H.B. Fuller by 13.0% during the fourth quarter. State of Tennessee Treasury Department now owns 23,424 shares of the specialty chemicals company’s stock valued at $1,677,000 after purchasing an additional 2,699 shares in the last quarter. 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.