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

H.B. Fuller (NYSE:FUL) released its quarterly earnings data on Wednesday. The specialty chemicals company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03, Briefing.com reports. H.B. Fuller had a net margin of 4.39% and a return on equity of 12.97%. The company had revenue of $810.42 million during the quarter, compared to the consensus estimate of $823.04 million. During the same quarter in the prior year, the firm earned $0.55 EPS. H.B. Fuller’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 Stock Performance

Shares of H.B. Fuller stock opened at $79.72 on Friday. H.B. Fuller has a 52 week low of $62.57 and a 52 week high of $84.31. The firm has a market capitalization of $4.32 billion, a P/E ratio of 28.99, a P/E/G ratio of 1.31 and a beta of 1.52. The company has a quick ratio of 1.26, a current ratio of 1.89 and a debt-to-equity ratio of 1.05. The firm’s 50 day moving average is $78.32 and its two-hundred day moving average is $75.33.

H.B. Fuller Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders 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 dividend yield of 1.03%. H.B. Fuller’s dividend payout ratio (DPR) is currently 29.82%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FUL. StockNews.com upgraded H.B. Fuller from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Vertical Research began coverage on shares of H.B. Fuller in a research note on Tuesday, March 19th. They set a “buy” rating and a $88.00 target price on the stock. Stifel Nicolaus increased their price target on shares of H.B. Fuller from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price objective on shares of H.B. Fuller in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $84.20.

Insider Transactions at H.B. Fuller

In related news, VP Heather Campe sold 3,450 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $76.83, for a total transaction of $265,063.50. Following the transaction, the vice president now owns 19,736 shares of the company’s stock, valued at $1,516,316.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other H.B. Fuller news, VP Heather Campe sold 3,450 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Muhammad Shahbaz Malik sold 14,000 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $76.28, for a total value of $1,067,920.00. Following the sale, the vice president now directly owns 9,089 shares in the company, valued at approximately $693,308.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,693 shares of company stock worth $2,353,357. Corporate insiders own 1.96% of the company’s stock.

Institutional Trading of H.B. Fuller

A number of institutional investors and hedge funds have recently bought and sold shares of FUL. UBS Asset Management Americas Inc. increased its position 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 purchasing an additional 3,081 shares during the last quarter. Luminus Management LLC bought a new position in H.B. Fuller during the first quarter worth $3,396,000. Marshall Wace LLP increased its stake in 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 purchasing an additional 20,608 shares during the last quarter. BNP Paribas Arbitrage SNC raised its stake in H.B. Fuller by 47.4% during the first quarter. BNP Paribas Arbitrage SNC now owns 34,983 shares of the specialty chemicals company’s stock worth $2,395,000 after acquiring an additional 11,251 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in H.B. Fuller by 55.7% in the first quarter. MetLife Investment Management LLC now owns 27,833 shares of the specialty chemicals company’s stock worth $1,839,000 after acquiring an additional 9,960 shares during the last quarter. Institutional investors and hedge funds own 95.93% of the company’s stock.

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.