H.B. Fuller (NYSE:FUL) Releases Earnings Results, Beats Estimates By $0.03 EPS

H.B. Fuller (NYSE:FUL) released its quarterly earnings results on Wednesday. The specialty chemicals company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03, Briefing.com reports. The business had revenue of $810.42 million during 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%. The company’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business 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 %

FUL opened at $79.72 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.26 and a current ratio of 1.89. H.B. Fuller has a one year low of $62.57 and a one year high of $84.31. The business’s fifty day moving average is $78.32 and its two-hundred day moving average is $75.33. The company 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.

H.B. Fuller Dividend Announcement

The company also recently announced 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. The ex-dividend date was Tuesday, February 6th. This represents a $0.82 dividend on an annualized basis and a yield of 1.03%. H.B. Fuller’s payout ratio is 29.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com raised H.B. Fuller from a “hold” rating to a “buy” rating in a research report on Thursday, January 18th. Vertical Research began coverage on H.B. Fuller in a report on Tuesday, March 19th. They set a “buy” rating and a $88.00 price objective on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $80.00 price objective on shares of H.B. Fuller in a report on Friday, January 19th. Finally, Stifel Nicolaus upped their price objective on H.B. Fuller from $110.00 to $115.00 and gave the stock 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 assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $84.20.

Insider Activity

In other news, VP Heather Campe sold 3,450 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was 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 in the company, valued at $1,516,316.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Muhammad Shahbaz Malik sold 14,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $76.28, for a total value of $1,067,920.00. Following the sale, the vice president now directly owns 9,089 shares in the company, valued at $693,308.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Heather Campe sold 3,450 shares of the 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 transaction, the vice president now owns 19,736 shares in the company, valued at $1,516,316.88. The disclosure for this sale can be found here. Insiders have sold 30,693 shares of company stock worth $2,353,357 over the last three months. 1.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On H.B. Fuller

Large investors have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. lifted its position in H.B. Fuller by 4.9% during the second 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. Luminus Management LLC acquired a new stake in shares of H.B. Fuller in the first quarter valued at about $3,396,000. Marshall Wace LLP grew its stake in shares of H.B. Fuller by 150.1% in the second 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 in the last quarter. BNP Paribas Arbitrage SNC boosted its holdings in H.B. Fuller by 47.4% in the first quarter. BNP Paribas Arbitrage SNC now owns 34,983 shares of the specialty chemicals company’s stock valued at $2,395,000 after purchasing an additional 11,251 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in H.B. Fuller by 55.7% in the first quarter. MetLife Investment Management LLC now owns 27,833 shares of the specialty chemicals company’s stock valued at $1,839,000 after purchasing an additional 9,960 shares during the last quarter. 95.93% of the stock is currently owned by hedge funds and other 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.