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

H.B. Fuller (NYSE:FUL) released its earnings results on Wednesday. The specialty chemicals company reported $0.67 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $823.04 million. During the same period in the prior year, the business earned $0.55 earnings per share. The business’s quarterly 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 Price Performance

Shares of H.B. Fuller stock opened at $82.60 on Thursday. 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 fifty-two week low of $62.57 and a fifty-two week high of $83.64. The firm has a fifty day moving average price of $78.28 and a two-hundred day moving average price of $75.30. The company has a market cap of $4.48 billion, a PE ratio of 31.89, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52.

H.B. Fuller Dividend Announcement

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

Analysts Set New Price Targets

FUL has been the subject of several research analyst reports. Vertical Research initiated coverage on shares of H.B. Fuller in a research report on Tuesday, March 19th. They issued a “buy” rating and a $88.00 price target for the company. Stifel Nicolaus increased their price target on shares of H.B. Fuller from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. StockNews.com upgraded shares of H.B. Fuller from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. Finally, Robert W. Baird restated a “neutral” rating and set a $80.00 price target on shares of H.B. Fuller in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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 on Wednesday, January 24th. The shares were 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 of the company’s stock, valued at approximately $1,572,282.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, 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 completion of the sale, the vice president now owns 9,089 shares in the company, valued at approximately $693,308.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,020,373.15. Following the sale, the vice president now owns 20,406 shares of the company’s stock, valued at approximately $1,572,282.30. The disclosure for this sale can be found here. Insiders sold a total of 30,693 shares of company stock valued at $2,353,357 in the last ninety days. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On H.B. Fuller

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FUL. Ameriprise Financial Inc. increased its position in H.B. Fuller by 25.3% in the 3rd 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 in the last quarter. Geode Capital Management LLC grew 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 buying an additional 55,005 shares during the period. Luminus Management LLC acquired a new stake in shares of H.B. Fuller during the 1st quarter worth approximately $3,396,000. Marshall Wace LLP grew its position in shares of H.B. Fuller by 150.1% during the 2nd quarter. Marshall Wace LLP now owns 34,336 shares of the specialty chemicals company’s stock worth $2,455,000 after buying an additional 20,608 shares during the period. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of H.B. Fuller during the 3rd quarter worth approximately $996,000. Institutional investors and hedge funds 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.