Hawkins, Inc. (NASDAQ:HWKN) Sees Large Drop in Short Interest

Hawkins, Inc. (NASDAQ:HWKN) was the target of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 1,296,296 shares, a drop of 18.6% from the February 12th total of 1,593,423 shares. Approximately 6.5% of the shares of the company are sold short. Based on an average trading volume of 89,845 shares, the short-interest ratio is presently 14.4 days. Based on an average trading volume of 89,845 shares, the short-interest ratio is presently 14.4 days. Approximately 6.5% of the shares of the company are sold short.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Zacks Research upgraded shares of Hawkins from a “strong sell” rating to a “hold” rating in a research note on Friday, January 2nd. BWS Financial reissued a “buy” rating and set a $200.00 price target on shares of Hawkins in a report on Thursday, January 29th. Finally, Weiss Ratings cut Hawkins from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $162.50.

Insider Activity at Hawkins

In other Hawkins news, Director James A. Faulconbridge purchased 1,500 shares of Hawkins stock in a transaction that occurred on Wednesday, February 4th. The stock was purchased at an average price of $129.29 per share, for a total transaction of $193,935.00. Following the transaction, the director directly owned 50,907 shares in the company, valued at $6,581,766.03. This trade represents a 3.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Hawkins

A number of hedge funds have recently added to or reduced their stakes in HWKN. Capital World Investors increased its position in Hawkins by 618.8% during the 3rd quarter. Capital World Investors now owns 355,619 shares of the specialty chemicals company’s stock worth $64,979,000 after purchasing an additional 306,143 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Hawkins in the 4th quarter valued at approximately $19,098,000. Wasatch Advisors LP lifted its holdings in shares of Hawkins by 31.4% in the 4th quarter. Wasatch Advisors LP now owns 552,419 shares of the specialty chemicals company’s stock valued at $78,477,000 after buying an additional 131,850 shares during the period. Invesco Ltd. boosted its stake in shares of Hawkins by 44.4% in the third quarter. Invesco Ltd. now owns 407,793 shares of the specialty chemicals company’s stock valued at $74,512,000 after buying an additional 125,444 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Hawkins by 11.6% in the fourth quarter. State Street Corp now owns 1,067,451 shares of the specialty chemicals company’s stock valued at $151,642,000 after buying an additional 111,318 shares in the last quarter. Institutional investors and hedge funds own 69.71% of the company’s stock.

Hawkins Stock Performance

NASDAQ:HWKN traded up $1.53 during midday trading on Tuesday, reaching $145.15. The stock had a trading volume of 213,237 shares, compared to its average volume of 127,820. The firm has a fifty day simple moving average of $146.54 and a two-hundred day simple moving average of $150.82. Hawkins has a 12-month low of $101.72 and a 12-month high of $186.15. The company has a quick ratio of 1.46, a current ratio of 2.35 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.03 billion, a P/E ratio of 36.75, a P/E/G ratio of 3.04 and a beta of 0.82.

Hawkins (NASDAQ:HWKN) last announced its quarterly earnings data on Wednesday, January 28th. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.03). Hawkins had a net margin of 7.75% and a return on equity of 16.85%. The firm had revenue of $244.08 million during the quarter, compared to analyst estimates of $252.51 million. On average, equities analysts expect that Hawkins will post 4 EPS for the current year.

Hawkins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, February 13th. Hawkins’s dividend payout ratio is currently 19.24%.

Hawkins Company Profile

Hawkins, Inc (NASDAQ: HWKN) is a specialty chemical company that produces and distributes water-treatment and industrial chemicals across North America. Founded in 1938 and headquartered in Roseville, Minnesota, the company has built a network of manufacturing facilities and distribution centers that serve municipal, industrial and commercial customers. As a publicly traded entity, Hawkins leverages its long-standing presence in the chemical distribution industry to provide tailored solutions for complex water-treatment challenges and specialty chemical needs.

Hawkins’ product portfolio encompasses a wide range of chemicals, including sodium hypochlorite, sodium hydroxide, hydrogen peroxide, chlorine, acids and specialty blends.