Hawkins (NASDAQ:HWKN) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Hawkins (NASDAQ:HWKN) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. They currently have $45.00 target price on the specialty chemicals company’s stock.

According to Zacks, “Hawkins, Inc. distributes, blends and manufactures bulk and specialty chemicals and other health and nutrition products for its customers in a wide variety of industries. Thousands of water treatment facilities, manufacturers, food and dairy producers, research labs and many other organizations depend on Hawkins for the chemical products they need. These products range from potassium carbonate to chlorine to FCC grade citrates and phosphates. Headquartered in Roseville, Minnesota, the Company creates value for its customers through superb customer service and support, quality products and personalized applications. “

Hawkins stock opened at $39.39 on Wednesday. The company has a market cap of $831.52 million, a PE ratio of 17.39 and a beta of 0.89. The company has a fifty day moving average price of $37.37 and a two-hundred day moving average price of $35.76. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.37 and a quick ratio of 1.39. Hawkins has a 12 month low of $24.55 and a 12 month high of $40.97.

Hawkins (NASDAQ:HWKN) last announced its quarterly earnings results on Wednesday, October 27th. The specialty chemicals company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.12). Hawkins had a net margin of 7.12% and a return on equity of 17.66%. The firm had revenue of $183.28 million for the quarter, compared to analyst estimates of $176.32 million. During the same period last year, the firm posted $0.57 EPS. Equities research analysts anticipate that Hawkins will post 2.23 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 19th. Stockholders of record on Friday, November 5th were issued a dividend of $0.13 per share. This is an increase from Hawkins’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, November 4th. This represents a $0.52 annualized dividend and a dividend yield of 1.32%. Hawkins’s payout ratio is 22.96%.

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in Hawkins by 1.6% in the second quarter. BlackRock Inc. now owns 3,237,372 shares of the specialty chemicals company’s stock worth $106,023,000 after purchasing an additional 52,053 shares during the period. Vanguard Group Inc. lifted its holdings in Hawkins by 1.0% in the second quarter. Vanguard Group Inc. now owns 1,469,959 shares of the specialty chemicals company’s stock worth $48,141,000 after purchasing an additional 14,853 shares during the period. State Street Corp lifted its holdings in Hawkins by 4.5% in the second quarter. State Street Corp now owns 636,944 shares of the specialty chemicals company’s stock worth $20,860,000 after purchasing an additional 27,295 shares during the period. Geode Capital Management LLC lifted its holdings in Hawkins by 0.7% in the second quarter. Geode Capital Management LLC now owns 334,048 shares of the specialty chemicals company’s stock worth $10,940,000 after purchasing an additional 2,253 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Hawkins by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 276,809 shares of the specialty chemicals company’s stock worth $9,655,000 after purchasing an additional 3,477 shares during the period. 58.32% of the stock is owned by institutional investors.

About Hawkins

Hawkins, Inc engaged in the distribution, blending, and manufacture of chemicals and specialty ingredients for a wide variety of industries. It operates through the following segments: Industrial, Water Treatment, and Health and Nutrition. The Industrial segment provides g industrial chemicals, products, and services to the agriculture, chemical processing, electronics, energy, food, pharmaceutical, and plating industries.

Recommended Story: Return On Assets

Get a free copy of the Zacks research report on Hawkins (HWKN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Hawkins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hawkins and related companies with MarketBeat.com's FREE daily email newsletter.