Hawkins (NASDAQ:HWKN) Issues Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Hawkins (NASDAQ:HWKN) released its quarterly earnings results on Monday. The specialty chemicals company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.15, FiscalAI reports. The business had revenue of $313.82 million for the quarter, compared to analysts’ expectations of $302.70 million. Hawkins had a net margin of 7.29% and a return on equity of 15.42%.

Hawkins Stock Up 2.4%

Shares of NASDAQ HWKN traded up $3.12 during midday trading on Monday, hitting $135.44. The stock had a trading volume of 133,830 shares, compared to its average volume of 162,803. The company has a market cap of $2.83 billion, a P/E ratio of 35.09, a PEG ratio of 2.71 and a beta of 0.74. Hawkins has a 52 week low of $116.04 and a 52 week high of $174.12. The company has a quick ratio of 1.54, a current ratio of 2.27 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $126.32 and its 200-day moving average is $141.80.

Hawkins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, August 14th. Hawkins’s dividend payout ratio is currently 20.73%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. BWS Financial restated a “buy” rating and issued a $200.00 price objective on shares of Hawkins in a report on Monday, August 3rd. Weiss Ratings raised shares of Hawkins from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, September 21st. Zacks Research lowered shares of Hawkins from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Finally, Barclays set a $141.00 price target on shares of Hawkins and gave the company an “equal weight” rating in a research report on Tuesday, October 13th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Hawkins currently has a consensus rating of “Hold” and a consensus target price of $170.50.

Insider Buying and Selling at Hawkins

In related news, CFO Jeffrey P. Oldenkamp purchased 1,290 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were purchased at an average price of $119.00 per share, with a total value of $153,510.00. Following the acquisition, the chief financial officer directly owned 104,223 shares in the company, valued at $12,402,537. The trade was a 1.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Douglas A. Lange purchased 910 shares of Hawkins stock in a transaction dated Tuesday, August 25th. The stock was bought at an average price of $118.75 per share, with a total value of $108,062.50. Following the completion of the purchase, the vice president directly owned 28,169 shares of the company’s stock, valued at approximately $3,345,068.75. This trade represents a 3.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.70% of the company’s stock.

About Hawkins

Hawkins, Inc (NASDAQ:HWKN) is a chemical manufacturer, blender and distributor serving customers across the United States. The company supplies a range of water treatment chemicals, industrial chemicals and specialty products to municipal, commercial and industrial users.

Its water treatment business provides chemicals and related solutions used in drinking water, wastewater and industrial water treatment applications. Hawkins also serves the industrial, health and nutrition, and specialty chemical markets, offering products such as chemical blends, custom formulations and other materials used in manufacturing, agriculture, food processing and pharmaceutical applications.

Founded in 1938, Hawkins is headquartered in Roseville, Minnesota, and operates through a network of manufacturing, blending, distribution and sales locations in the United States.