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

H.B. Fuller (NYSE:FUL) issued 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. H.B. Fuller had a net margin of 4.39% and a return on equity of 12.97%. The firm had revenue of $810.42 million during the quarter, compared to analysts’ expectations of $823.04 million. During the same quarter in the prior year, the business earned $0.55 EPS. H.B. Fuller’s quarterly 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 Performance

NYSE FUL opened at $79.72 on Friday. The business has a 50 day moving average price of $78.32 and a 200 day moving average price of $75.33. The company has a market capitalization of $4.32 billion, a P/E ratio of 28.99, a PEG 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. 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 Announces Dividend

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

Insider Buying and Selling

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

Institutional Investors Weigh In On H.B. Fuller

A number of large investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. boosted its stake in shares of H.B. Fuller by 25.3% during the third quarter. Ameriprise Financial Inc. now owns 425,162 shares of the specialty chemicals company’s stock valued at $29,170,000 after acquiring an additional 85,716 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of H.B. Fuller by 5.6% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 17,496 shares of the specialty chemicals company’s stock worth $1,251,000 after buying an additional 933 shares in the last quarter. Kennedy Capital Management LLC raised 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. Marshall Wace LLP lifted its stake in shares of H.B. Fuller by 150.1% during 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 during the period. Finally, Geode Capital Management LLC boosted its position in H.B. Fuller by 5.8% during the first quarter. Geode Capital Management LLC now owns 999,922 shares of the specialty chemicals company’s stock worth $68,445,000 after acquiring an additional 55,005 shares during the last quarter. Institutional investors and hedge funds own 95.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Vertical Research started coverage on shares of H.B. Fuller in a research report on Tuesday, March 19th. They set a “buy” rating and a $88.00 price objective for the company. Robert W. Baird restated a “neutral” rating and issued a $80.00 price objective on shares of H.B. Fuller in a research report on Friday, January 19th. 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 research report on Friday, January 19th. Finally, StockNews.com upgraded 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 assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.