H.B. Fuller (NYSE:FUL) Shares Gap Up After Earnings Beat

H.B. Fuller (NYSE:FUL)’s stock price gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $76.30, but opened at $80.11. H.B. Fuller shares last traded at $78.43, with a volume of 44,817 shares traded.

The specialty chemicals company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. The business had revenue of $917.10 million during the quarter, compared to analyst estimates of $914.22 million. H.B. Fuller had a return on equity of 12.88% and a net margin of 4.39%. H.B. Fuller’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.93 EPS.

H.B. Fuller Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Thursday, April 25th were paid a dividend of $0.222 per share. This is an increase from H.B. Fuller’s previous quarterly dividend of $0.21. This represents a $0.89 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, April 24th. H.B. Fuller’s payout ratio is currently 32.36%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FUL. Vertical Research started coverage on H.B. Fuller in a research note on Tuesday, March 19th. They set a “buy” rating and a $88.00 price objective for the company. Robert W. Baird upped their price target on H.B. Fuller from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, H.B. Fuller presently has a consensus rating of “Hold” and a consensus price target of $86.20.

Insider Activity

In other H.B. Fuller news, EVP James J. East sold 22,316 shares of H.B. Fuller stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $78.27, for a total value of $1,746,673.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP James J. East sold 22,316 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $78.27, for a total transaction of $1,746,673.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Nathan D. Weaver sold 7,292 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $78.64, for a total value of $573,442.88. Following the sale, the vice president now owns 4,803 shares in the company, valued at approximately $377,707.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,253 shares of company stock worth $2,669,188. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On H.B. Fuller

Institutional investors and hedge funds have recently modified their holdings of the company. Central Pacific Bank Trust Division purchased a new stake in shares of H.B. Fuller during the first quarter worth approximately $79,000. Arlington Trust Co LLC acquired a new stake in H.B. Fuller in the 4th quarter valued at about $134,000. Security National Bank of SO Dak purchased a new position in shares of H.B. Fuller in the 4th quarter valued at about $236,000. Campbell & CO Investment Adviser LLC purchased a new position in H.B. Fuller during the 4th quarter worth approximately $738,000. Finally, Wesbanco Bank Inc. grew its stake in H.B. Fuller by 90.2% during the 3rd quarter. Wesbanco Bank Inc. now owns 9,700 shares of the specialty chemicals company’s stock worth $666,000 after buying an additional 4,600 shares during the last quarter. Institutional investors and hedge funds own 95.93% of the company’s stock.

H.B. Fuller Stock Up 1.2 %

The business has a 50 day moving average of $78.01 and a 200-day moving average of $78.49. The stock has a market cap of $4.21 billion, a PE ratio of 27.76, a P/E/G ratio of 1.21 and a beta of 1.48. The company has a current ratio of 1.99, a quick ratio of 1.23 and a debt-to-equity ratio of 1.03.

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. It operates through three segments: Hygiene, Health and Consumable Adhesives; Engineering Adhesives; and Construction Adhesives.