Hawkins (NASDAQ:HWKN) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Hawkins (NASDAQ:HWKN) from a hold rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. They currently have $45.00 price target on the specialty chemicals company’s stock.

According to Zacks, “Hawkins, Inc. distributes, blends and manufactures bulk and specialty chemicals and other health and nutrition products for its customers in a wide variety of industries. Thousands of water treatment facilities, manufacturers, food and dairy producers, research labs and many other organizations depend on Hawkins for the chemical products they need. These products range from potassium carbonate to chlorine to FCC grade citrates and phosphates. Headquartered in Roseville, Minnesota, the Company creates value for its customers through superb customer service and support, quality products and personalized applications. “

Shares of HWKN stock opened at $39.39 on Wednesday. Hawkins has a 12 month low of $24.55 and a 12 month high of $40.97. The firm has a market cap of $831.52 million, a PE ratio of 17.39 and a beta of 0.89. The stock has a 50 day moving average of $37.37 and a 200-day moving average of $35.76. The company has a quick ratio of 1.39, a current ratio of 2.37 and a debt-to-equity ratio of 0.26.

Hawkins (NASDAQ:HWKN) last issued its quarterly earnings results on Wednesday, October 27th. The specialty chemicals company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.12). Hawkins had a return on equity of 17.66% and a net margin of 7.12%. The business had revenue of $183.28 million for the quarter, compared to analyst estimates of $176.32 million. During the same quarter last year, the firm earned $0.57 earnings per share. As a group, equities analysts predict that Hawkins will post 2.23 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 19th. Investors of record on Friday, November 5th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.32%. This is a positive change from Hawkins’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, November 4th. Hawkins’s dividend payout ratio is presently 22.96%.

Several hedge funds and other institutional investors have recently modified their holdings of HWKN. American Century Companies Inc. raised its stake in shares of Hawkins by 35.2% in the second quarter. American Century Companies Inc. now owns 47,902 shares of the specialty chemicals company’s stock valued at $1,569,000 after purchasing an additional 12,463 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Hawkins by 12.4% during the second quarter. PNC Financial Services Group Inc. now owns 14,103 shares of the specialty chemicals company’s stock worth $462,000 after acquiring an additional 1,555 shares in the last quarter. Citigroup Inc. raised its stake in Hawkins by 343.2% during the second quarter. Citigroup Inc. now owns 10,677 shares of the specialty chemicals company’s stock worth $350,000 after acquiring an additional 8,268 shares in the last quarter. Principal Financial Group Inc. raised its stake in Hawkins by 1.1% during the second quarter. Principal Financial Group Inc. now owns 131,304 shares of the specialty chemicals company’s stock worth $4,300,000 after acquiring an additional 1,487 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Hawkins by 1.6% during the second quarter. BlackRock Inc. now owns 3,237,372 shares of the specialty chemicals company’s stock worth $106,023,000 after acquiring an additional 52,053 shares in the last quarter. Institutional investors and hedge funds own 58.32% of the company’s stock.

Hawkins Company Profile

Hawkins, Inc engaged in the distribution, blending, and manufacture of chemicals and specialty ingredients for a wide variety of industries. It operates through the following segments: Industrial, Water Treatment, and Health and Nutrition. The Industrial segment provides g industrial chemicals, products, and services to the agriculture, chemical processing, electronics, energy, food, pharmaceutical, and plating industries.

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