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

H.B. Fuller (NYSE:FUL) released its earnings results on Wednesday. The specialty chemicals company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.03, Briefing.com reports. The business had revenue of $810.42 million during the quarter, compared to analysts’ expectations of $823.04 million. H.B. Fuller had a net margin of 4.39% and a return on equity of 12.97%. The firm’s revenue was up .2% on a year-over-year basis. During the same period last year, the business 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 Price Performance

FUL stock opened at $79.72 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.26 and a current ratio of 1.89. The business has a 50-day simple moving average of $78.32 and a two-hundred day simple moving average of $75.33. The company has a market capitalization of $4.32 billion, a P/E ratio of 28.99, a price-to-earnings-growth ratio of 1.31 and a beta of 1.52. H.B. Fuller has a 52-week low of $62.57 and a 52-week high of $84.31.

H.B. Fuller Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Tuesday, February 6th. H.B. Fuller’s payout ratio is presently 29.82%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com upgraded shares of H.B. Fuller from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. Vertical Research started coverage on shares of H.B. Fuller in a research report on Tuesday, March 19th. They set a “buy” rating and a $88.00 price objective for the company. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price target on shares of H.B. Fuller in a research note on Friday, January 19th. Finally, Stifel Nicolaus upped their price objective 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 issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $84.20.

Insider Transactions at H.B. Fuller

In related news, VP Heather Campe sold 3,450 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Heather Campe sold 3,450 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $76.83, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Muhammad Shahbaz Malik sold 14,000 shares of the 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 sale, the vice president now owns 9,089 shares of the company’s stock, valued at approximately $693,308.92. The disclosure for this sale can be found here. Insiders sold a total of 30,693 shares of company stock valued at $2,353,357 over the last ninety days. 1.96% of the stock is currently owned by insiders.

Institutional Trading of H.B. Fuller

Several hedge funds have recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC purchased a new stake in H.B. Fuller in the 2nd quarter worth about $33,000. Campbell & CO Investment Adviser LLC purchased a new position in H.B. Fuller in the 4th quarter valued at approximately $418,000. Marshall Wace LLP bought a new stake in H.B. Fuller during the 3rd quarter valued at $701,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of H.B. Fuller during the third quarter worth $996,000. Finally, State of Tennessee Treasury Department boosted its holdings in shares of H.B. Fuller by 13.0% in the fourth quarter. State of Tennessee Treasury Department now owns 23,424 shares of the specialty chemicals company’s stock worth $1,677,000 after acquiring an additional 2,699 shares during the period. Institutional investors own 95.93% of the company’s stock.

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 in North America, Europe, Latin America, Asia Pacific, India, the Middle East, Africa, and internationally.