Palisade Asset Management LLC cut its stake in HB Fuller Co (NYSE:FUL) by 7.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,650 shares of the specialty chemicals company’s stock after selling 1,000 shares during the period. Palisade Asset Management LLC’s holdings in HB Fuller were worth $541,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Advisor Group Inc. increased its position in HB Fuller by 52.8% during the 4th quarter. Advisor Group Inc. now owns 1,497 shares of the specialty chemicals company’s stock worth $64,000 after purchasing an additional 517 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in HB Fuller by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,119,631 shares of the specialty chemicals company’s stock valued at $90,446,000 after buying an additional 47,000 shares during the period. Bank of America Corp DE grew its holdings in HB Fuller by 222.3% in the 4th quarter. Bank of America Corp DE now owns 65,225 shares of the specialty chemicals company’s stock valued at $2,783,000 after buying an additional 44,986 shares during the period. Squarepoint Ops LLC grew its holdings in HB Fuller by 57.1% in the 4th quarter. Squarepoint Ops LLC now owns 15,240 shares of the specialty chemicals company’s stock valued at $650,000 after buying an additional 5,540 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of HB Fuller by 1.8% in the 4th quarter. Legal & General Group Plc now owns 130,298 shares of the specialty chemicals company’s stock valued at $5,562,000 after purchasing an additional 2,265 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.
FUL stock traded down $1.32 during mid-day trading on Monday, hitting $44.46. The stock had a trading volume of 7,343 shares, compared to its average volume of 343,136. The company has a quick ratio of 1.40, a current ratio of 2.14 and a debt-to-equity ratio of 1.85. HB Fuller Co has a 1-year low of $39.22 and a 1-year high of $59.58. The business’s fifty day moving average price is $46.65. The stock has a market cap of $2.33 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.58.
HB Fuller (NYSE:FUL) last issued its quarterly earnings data on Wednesday, June 26th. The specialty chemicals company reported $0.88 EPS for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.01). The company had revenue of $759.60 million for the quarter, compared to analyst estimates of $779.07 million. HB Fuller had a net margin of 4.31% and a return on equity of 13.38%. The business’s revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 EPS. As a group, equities analysts anticipate that HB Fuller Co will post 3.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Tuesday, July 30th will be paid a dividend of $0.16 per share. The ex-dividend date is Monday, July 29th. This represents a $0.64 annualized dividend and a yield of 1.44%. HB Fuller’s payout ratio is 21.33%.
In related news, VP Timothy J. Keenan sold 7,500 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $48.82, for a total transaction of $366,150.00. Following the completion of the sale, the vice president now owns 27,742 shares in the company, valued at approximately $1,354,364.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.46% of the stock is owned by corporate insiders.
Several equities analysts have recently weighed in on the company. TheStreet raised HB Fuller from a “c+” rating to a “b-” rating in a research note on Tuesday, July 23rd. ValuEngine raised HB Fuller from a “sell” rating to a “hold” rating in a research note on Friday, June 28th. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. lowered their price objective on HB Fuller from $51.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. HB Fuller currently has a consensus rating of “Hold” and an average target price of $55.60.
HB Fuller Company Profile
H.B. Fuller Company, together with its subsidiaries, formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, and other specialty chemical products worldwide. The company operates through five segments: Americas Adhesives, EIMEA, Asia Pacific, Construction Adhesives, and Engineering Adhesives.
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