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

H.B. Fuller (NYSE:FUL) released its 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 company had revenue of $810.42 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company 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 Performance

H.B. Fuller stock traded down $2.84 during trading hours on Friday, hitting $79.74. 757,823 shares of the stock traded hands, compared to its average volume of 264,586. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.89 and a quick ratio of 1.26. The firm’s 50 day moving average price is $78.32 and its 200-day moving average price is $75.33. 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 1 year low of $62.57 and a 1 year high of $84.31.

H.B. Fuller Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 7th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.82 annualized dividend and a yield of 1.03%. H.B. Fuller’s payout ratio is presently 29.82%.

Analyst Upgrades and Downgrades

FUL has been the topic of a number of recent research reports. Robert W. Baird reissued a “neutral” rating and issued a $80.00 target price on shares of H.B. Fuller in a report on Friday, January 19th. Vertical Research assumed coverage on H.B. Fuller in a research note on Tuesday, March 19th. They issued a “buy” rating and a $88.00 price objective on the stock. Stifel Nicolaus raised their price objective on H.B. Fuller from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Finally, StockNews.com raised H.B. Fuller from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, H.B. Fuller has an average rating of “Hold” and a consensus price target of $84.20.

Insider Activity

In related news, VP Muhammad Shahbaz Malik sold 14,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, 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 accessible through the SEC website. In other H.B. Fuller news, VP Muhammad Shahbaz Malik sold 14,000 shares of the 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 owns 9,089 shares of the company’s stock, valued at $693,308.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Heather Campe sold 3,450 shares of H.B. Fuller stock in a transaction 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 completion of the sale, the vice president now directly 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 currently owned by company insiders.

Institutional Trading of H.B. Fuller

Institutional investors have recently bought and sold shares of the business. 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 purchasing an additional 85,716 shares during the period. Geode Capital Management LLC lifted its stake in H.B. Fuller by 5.8% in the 1st quarter. Geode Capital Management LLC now owns 999,922 shares of the specialty chemicals company’s stock valued at $68,445,000 after buying an additional 55,005 shares in the last quarter. Luminus Management LLC purchased a new stake in H.B. Fuller in the 1st quarter valued at approximately $3,396,000. Marshall Wace LLP lifted its stake in H.B. Fuller by 150.1% in 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 in the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in shares of H.B. Fuller during the 3rd quarter worth $996,000. 95.93% of the stock is owned by hedge funds and other institutional investors.

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.