Citigroup Cuts H. B. Fuller (NYSE:FUL) Price Target to $63.00

H. B. Fuller (NYSE:FUL) had its price objective reduced by Citigroup from $75.00 to $63.00 in a research report report published on Monday,Benzinga reports. Citigroup currently has a buy rating on the specialty chemicals company’s stock.

FUL has been the topic of several other research reports. JPMorgan Chase & Co. raised shares of H. B. Fuller from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $58.00 to $67.00 in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of H. B. Fuller from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Robert W. Baird lowered their target price on shares of H. B. Fuller from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, September 25th. The Goldman Sachs Group set a $67.00 price target on shares of H. B. Fuller in a research report on Friday, June 26th. Finally, Raymond James Financial set a $67.00 price objective on H. B. Fuller in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.62.

H. B. Fuller Trading Up 0.0%

Shares of FUL opened at $49.62 on Monday. The stock’s 50-day moving average price is $55.33 and its 200 day moving average price is $58.21. The company has a quick ratio of 1.10, a current ratio of 1.82 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 0.54 and a beta of 0.97. H. B. Fuller has a 12-month low of $46.70 and a 12-month high of $68.63.

H. B. Fuller (NYSE:FUL) last announced its quarterly earnings data on Thursday, September 24th. The specialty chemicals company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.05. The company had revenue of $938.17 million for the quarter, compared to analyst estimates of $945.59 million. H. B. Fuller had a return on equity of 12.65% and a net margin of 5.56%.H. B. Fuller’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 EPS. As a group, research analysts predict that H. B. Fuller will post 4.83 earnings per share for the current year.

H. B. Fuller Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were issued a $0.2450 dividend. This represents a $0.98 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, July 30th. H. B. Fuller’s payout ratio is presently 27.30%.

Insider Buying and Selling at H. B. Fuller

In other H. B. Fuller news, Director Daniel L. Florness purchased 2,030 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The stock was purchased at an average cost of $49.34 per share, with a total value of $100,160.20. Following the acquisition, the director directly owned 3,381 shares of the company’s stock, valued at approximately $166,818.54. This trade represents a 150.26% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles T. Lauber acquired 2,005 shares of the business’s stock in a transaction on Tuesday, September 29th. The stock was acquired at an average price of $49.87 per share, with a total value of $99,989.35. Following the transaction, the director owned 3,356 shares in the company, valued at approximately $167,363.72. The trade was a 148.41% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 10,117 shares of company stock worth $499,065 over the last 90 days. Company insiders own 1.83% of the company’s stock.

Institutional Investors Weigh In On H. B. Fuller

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new position in shares of H. B. Fuller in the second quarter worth about $86,000. Bank of New York Mellon Corp acquired a new stake in shares of H. B. Fuller in the second quarter valued at approximately $29,611,000. S&CO Inc. bought a new position in H. B. Fuller in the 2nd quarter worth approximately $14,093,000. Parallel Advisors LLC raised its position in H. B. Fuller by 85.6% in the 1st quarter. Parallel Advisors LLC now owns 1,034 shares of the specialty chemicals company’s stock worth $64,000 after purchasing an additional 477 shares during the last quarter. Finally, Glenmede Trust Co. NA acquired a new position in H. B. Fuller during the 1st quarter worth $240,000. Institutional investors and hedge funds own 95.93% of the company’s stock.

Trending Headlines about H. B. Fuller

Here are the key news stories impacting H. B. Fuller this week:

• Positive Sentiment: Ancora raised its bid for H.B. Fuller’s building adhesives unit to as much as $1.4 billion in cash. The higher offer, reportedly backed by Fortress, increases the potential for a sale and could unlock value from the business. It also adds pressure on H. B. Fuller’s board to evaluate strategic alternatives for the unit. Ancora raises bid for H.B. Fuller building unit to $1.4 billion, Bloomberg says
• Positive Sentiment: Several directors made sizable open-market purchases of FUL shares. Directors Srilata Zaheer, Charles T. Lauber, Teresa Rasmussen, Daniel L. Florness and Thomas W. Handley collectively bought roughly $500,000 of stock at prices between $48.96 and $49.87. The purchases substantially increased their individual holdings and may bolster investor confidence in the company’s valuation. H. B. Fuller insider purchase filing
• Neutral Sentiment: H. B. Fuller recently reported better-than-expected earnings. Quarterly earnings per share exceeded estimates, and revenue increased year over year, although sales were slightly below analysts’ expectations. The results provide fundamental support but are being overshadowed by the strategic review and activist campaign.
• Negative Sentiment: JPMorgan issued a pessimistic forecast for H. B. Fuller’s stock. The caution highlights continuing concerns about the company’s outlook and could limit the benefit from the potential asset sale. JPMorgan forecast for H. B. Fuller
• Negative Sentiment: Deutsche Bank lowered its price target from $72 to $62, citing a more cautious valuation, although it maintained a “buy” rating. The revised target still implies meaningful upside and therefore makes the signal mixed rather than outright bearish. Ancora increased offer for H.B. Fuller unit

About H. B. Fuller

H.B. Fuller Company (NYSE: FUL) develops and manufactures specialty adhesives, sealants and other chemical-based products used in industrial and commercial applications. Its solutions help customers bond, seal, coat and assemble materials across a range of products and manufacturing processes.

The company serves markets including packaging, hygiene and disposable products, construction, transportation, electronics, durable assembly, woodworking, flooring, composites and renewable energy.