H.B. Fuller (NYSE:FUL) Issues FY24 Earnings Guidance

H.B. Fuller (NYSE:FUL) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.15-4.45 for the period, compared to the consensus estimate of $4.31. The company issued revenue guidance of $3.58-$3.72 billion, compared to the consensus revenue estimate of $3.63 billion. H.B. Fuller also updated its FY 2024 guidance to 4.150-4.450 EPS.

H.B. Fuller Trading Up 2.8 %

Shares of FUL stock opened at $82.60 on Thursday. 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 stock has a market cap of $4.48 billion, a P/E ratio of 31.89, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The stock has a 50 day simple moving average of $78.28 and a 200 day simple moving average of $75.30. H.B. Fuller has a 1 year low of $62.57 and a 1 year high of $83.64.

H.B. Fuller (NYSE:FUL) last issued its quarterly earnings results on Thursday, January 18th. The specialty chemicals company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. The business had revenue of $903.00 million during the quarter, compared to analysts’ expectations of $929.85 million. H.B. Fuller had a return on equity of 12.73% and a net margin of 4.13%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.04 earnings per share. On average, research analysts predict that H.B. Fuller will post 4.35 earnings per share for the current fiscal year.

H.B. Fuller Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 7th were given 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 0.99%. H.B. Fuller’s dividend payout ratio is currently 31.66%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FUL. Robert W. Baird restated a neutral rating and set a $80.00 price objective on shares of H.B. Fuller in a research report on Friday, January 19th. 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 initiated coverage on shares of H.B. Fuller in a report on Tuesday, March 19th. They set a buy rating and a $88.00 price target for the company. Finally, Stifel Nicolaus upped their price target 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $84.20.

Insider Buying and Selling

In related news, VP Heather Campe sold 3,450 shares of the business’s 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 sale, the vice president now owns 19,736 shares of the company’s stock, valued at $1,516,316.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 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 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 accessible through this hyperlink. Also, VP Heather Campe sold 3,450 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $76.83, for a total transaction of $265,063.50. Following the sale, the vice president now directly owns 19,736 shares in the company, valued at approximately $1,516,316.88. The disclosure for this sale can be found here. Insiders have sold a total of 30,693 shares of company stock valued at $2,353,357 over the last 90 days. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On H.B. Fuller

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in shares of H.B. Fuller by 5.8% during the 1st quarter. Geode Capital Management LLC now owns 999,922 shares of the specialty chemicals company’s stock worth $68,445,000 after purchasing an additional 55,005 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of 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 in the last quarter. Kennedy Capital Management LLC raised its holdings in shares of H.B. Fuller by 14.5% in the 2nd quarter. Kennedy Capital Management LLC now owns 68,945 shares of the specialty chemicals company’s stock worth $4,930,000 after acquiring an additional 8,707 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of H.B. Fuller by 4.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 66,538 shares of the specialty chemicals company’s stock worth $4,006,000 after acquiring an additional 3,081 shares during the last quarter. Finally, Credit Suisse AG raised its holdings in shares of H.B. Fuller by 31.1% in the 4th quarter. Credit Suisse AG now owns 59,899 shares of the specialty chemicals company’s stock worth $4,290,000 after acquiring an additional 14,205 shares during the last quarter. Institutional investors own 95.93% of the company’s stock.

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.