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

H.B. Fuller (NYSE:FUL) issued its earnings results 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 analysts’ expectations of $823.04 million. During the same quarter last year, the company posted $0.55 earnings per share. The firm’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 Up 2.8 %

Shares of FUL stock opened at $82.60 on Thursday. The company 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. H.B. Fuller has a one year low of $62.57 and a one year high of $83.64. The company’s fifty day moving average price is $78.28 and its 200-day moving average price is $75.30. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.89 and a quick ratio of 1.26.

H.B. Fuller Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 7th were given a $0.205 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $0.82 annualized dividend and a yield of 0.99%. H.B. Fuller’s payout ratio is presently 31.66%.

Wall Street Analyst Weigh In

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

Insider Activity

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

Hedge Funds Weigh In On H.B. Fuller

Institutional investors and hedge funds have recently made changes to their positions in the business. Eagle Bay Advisors LLC purchased a new position in shares of H.B. Fuller in the 2nd quarter worth $33,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of H.B. Fuller in the 4th quarter worth $418,000. Marshall Wace LLP purchased a new position in shares of H.B. Fuller in the 3rd quarter worth $701,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of H.B. Fuller in the 3rd quarter worth $996,000. Finally, State of Tennessee Treasury Department grew its stake in shares of H.B. Fuller by 13.0% in the 4th quarter. State of Tennessee Treasury Department now owns 23,424 shares of the specialty chemicals company’s stock worth $1,677,000 after buying an additional 2,699 shares in the last quarter. 95.93% of the stock is owned by hedge funds and other institutional investors.

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.