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

H.B. Fuller (NYSE:FUL) posted its quarterly earnings results on Wednesday. The specialty chemicals company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03, Briefing.com reports. H.B. Fuller had a net margin of 4.13% and a return on equity of 12.73%. The company had revenue of $810.42 million during the quarter, compared to analyst estimates of $823.04 million. During the same period in the prior year, the business posted $0.55 EPS. The firm’s revenue was up .2% compared to the same quarter last year. 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 Up 2.8 %

NYSE:FUL opened at $82.60 on Thursday. The firm’s 50-day moving average price is $78.28 and its 200-day moving average price is $75.30. The company has a market capitalization of $4.48 billion, a PE ratio of 31.89, a P/E/G ratio of 1.27 and a beta of 1.52. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.89 and a quick ratio of 1.26. H.B. Fuller has a 1-year low of $62.57 and a 1-year high of $83.64.

H.B. Fuller Dividend Announcement

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

Insider Transactions at H.B. Fuller

In other news, VP Heather Campe sold 3,450 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Heather Campe sold 3,450 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Muhammad Shahbaz Malik sold 14,000 shares of the 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 sale, the vice president now directly owns 9,089 shares in the company, valued at $693,308.92. The disclosure for this sale can be found here. Insiders have sold 30,693 shares of company stock valued at $2,353,357 in the last three months. 1.96% of the stock is currently owned by company insiders.

Institutional Trading of H.B. Fuller

Several institutional investors have recently bought and sold shares of FUL. MetLife Investment Management LLC grew its position in H.B. Fuller by 55.7% during the 1st 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. Luminus Management LLC purchased a new stake in H.B. Fuller during the 1st quarter valued at about $3,396,000. UBS Asset Management Americas Inc. grew 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 valued at $4,006,000 after purchasing an additional 3,081 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of H.B. Fuller during the 2nd quarter valued at about $33,000. Finally, Marshall Wace LLP purchased a new stake in shares of H.B. Fuller during the 3rd quarter valued at about $701,000. 95.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on FUL. StockNews.com upgraded shares of H.B. Fuller from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Vertical Research began coverage on shares of H.B. Fuller in a report on Tuesday, March 19th. They issued a “buy” rating and a $88.00 price objective for the company. Stifel Nicolaus upped their price objective on shares of H.B. Fuller from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Finally, Robert W. Baird restated a “neutral” rating and issued a $80.00 price objective on shares of H.B. Fuller in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $84.20.

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.