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

H.B. Fuller (NYSE:FUL) posted its quarterly earnings data on Wednesday. The specialty chemicals company reported $0.67 earnings per share (EPS) for the quarter, topping 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 company had revenue of $810.42 million for the quarter, compared to the consensus estimate of $823.04 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The business’s revenue was up .2% compared to the same quarter last year. 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 FUL stock opened at $82.60 on Thursday. H.B. Fuller has a 1 year low of $62.57 and a 1 year high of $83.64. The firm’s 50 day moving average is $78.28 and its 200-day moving average is $75.30. The firm 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 company has a current ratio of 1.89, a quick ratio of 1.26 and a debt-to-equity ratio of 1.05.

H.B. Fuller Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 7th were paid 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 yield of 0.99%. H.B. Fuller’s dividend payout ratio is 31.66%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Vertical Research assumed coverage on shares of H.B. Fuller in a report on Tuesday, March 19th. They set a “buy” rating and a $88.00 price objective on the stock. Stifel Nicolaus upped their target price 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. StockNews.com raised 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 reissued a “neutral” rating and issued a $80.00 target price 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 given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.20.

Insider Transactions at H.B. Fuller

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

Institutional Investors Weigh In On H.B. Fuller

Several hedge funds have recently bought and sold shares of FUL. MetLife Investment Management LLC increased its position in shares of H.B. Fuller by 55.7% during 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 in the last quarter. Luminus Management LLC bought a new position in H.B. Fuller in the first quarter valued at $3,396,000. UBS Asset Management Americas Inc. grew its position in H.B. Fuller by 4.9% in the second quarter. UBS Asset Management Americas Inc. now owns 66,538 shares of the specialty chemicals company’s stock valued at $4,006,000 after purchasing an additional 3,081 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in H.B. Fuller in the second quarter valued at $33,000. Finally, Marshall Wace LLP bought a new position in H.B. Fuller in the third quarter valued at $701,000. 95.93% of the stock is currently owned by institutional investors and hedge funds.

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.