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

H.B. Fuller (NYSE:FUL) released its quarterly earnings results on Wednesday. The specialty chemicals company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.03, Briefing.com reports. The firm had revenue of $810.42 million during the quarter, compared to the consensus estimate of $823.04 million. H.B. Fuller had a net margin of 4.13% and a return on equity of 12.73%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 earnings per share. 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 Trading Up 2.8 %

NYSE:FUL 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 capitalization of $4.48 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 1.27 and a beta of 1.52. The firm has a fifty day simple moving average of $78.28 and a two-hundred day simple moving average of $75.30. H.B. Fuller has a 12 month low of $62.57 and a 12 month high of $83.64.

H.B. Fuller Announces Dividend

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 of this dividend was Tuesday, February 6th. H.B. Fuller’s payout ratio is 31.66%.

Insiders Place Their Bets

In other H.B. Fuller news, VP Muhammad Shahbaz Malik sold 14,000 shares of the firm’s 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 completion of the sale, the vice president now directly owns 9,089 shares in the company, valued at $693,308.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 directly owns 9,089 shares in the company, valued at $693,308.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Heather Campe sold 13,243 shares of H.B. Fuller 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 transaction, the vice president now owns 20,406 shares of the company’s stock, valued at $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 worth $2,353,357. 1.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. grew its holdings 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 buying an additional 85,716 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position 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 valued at $1,251,000 after purchasing an additional 933 shares in the last quarter. Kennedy Capital Management LLC lifted its position in shares of H.B. Fuller by 14.5% during 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 purchasing an additional 8,707 shares in the last quarter. Marshall Wace LLP lifted its position 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 purchasing an additional 20,608 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of 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 valued at $68,445,000 after purchasing an additional 55,005 shares in the last quarter. 95.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FUL has been the subject of a number of analyst reports. Vertical Research initiated 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 for the company. StockNews.com raised shares of H.B. Fuller from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. Robert W. Baird reissued a “neutral” rating and set a $80.00 target price on shares of H.B. Fuller in a research note on Friday, January 19th. Finally, Stifel Nicolaus lifted their target price 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. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $84.20.

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.