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

H.B. Fuller (NYSE:FUL) issued 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. H.B. Fuller had a net margin of 4.13% and a return on equity of 12.73%. The business had revenue of $810.42 million for the quarter, compared to analysts’ expectations of $823.04 million. During the same period in the previous year, the business earned $0.55 earnings per share. The company’s revenue was up .2% on a year-over-year basis. 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 Trading Up 2.8 %

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

H.B. Fuller Announces Dividend

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at H.B. Fuller

In other H.B. Fuller news, VP Heather Campe sold 13,243 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $77.05, for a total value of $1,020,373.15. Following the completion of the sale, the vice president now directly owns 20,406 shares in the company, valued at $1,572,282.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other H.B. Fuller news, VP Heather Campe sold 13,243 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $77.05, for a total value of $1,020,373.15. Following the completion of the sale, the vice president now directly owns 20,406 shares in the company, valued at $1,572,282.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Muhammad Shahbaz Malik sold 14,000 shares of the 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 transaction, the vice president now owns 9,089 shares of the company’s stock, valued at $693,308.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,693 shares of company stock valued at $2,353,357. 1.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in H.B. Fuller by 5.8% in the first quarter. Geode Capital Management LLC now owns 999,922 shares of the specialty chemicals company’s stock valued at $68,445,000 after purchasing an additional 55,005 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of H.B. Fuller by 25.3% in the third quarter. Ameriprise Financial Inc. now owns 425,162 shares of the specialty chemicals company’s stock valued at $29,170,000 after buying an additional 85,716 shares during the last quarter. Kennedy Capital Management LLC lifted its position in shares of H.B. Fuller by 14.5% in the second quarter. Kennedy Capital Management LLC now owns 68,945 shares of the specialty chemicals company’s stock valued at $4,930,000 after buying an additional 8,707 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of H.B. Fuller by 4.9% in the second quarter. UBS Asset Management Americas Inc. now owns 66,538 shares of the specialty chemicals company’s stock valued at $4,006,000 after buying an additional 3,081 shares during the last quarter. Finally, Credit Suisse AG lifted its position in shares of H.B. Fuller by 31.1% in the fourth quarter. Credit Suisse AG now owns 59,899 shares of the specialty chemicals company’s stock valued at $4,290,000 after buying an additional 14,205 shares during the last quarter. 95.93% of the stock is currently owned by 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.