H.B. Fuller (NYSE:FUL) Issues FY24 Earnings Guidance

H.B. Fuller (NYSE:FUL) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.15-4.45 for the period, compared to the consensus earnings per share estimate of $4.31. The company issued revenue guidance of $3.58-$3.72 billion, compared to the consensus revenue estimate of $3.63 billion.

Wall Street Analysts Forecast Growth

FUL has been the topic of a number of analyst reports. Robert W. Baird reiterated a neutral rating and set a $80.00 target price on shares of H.B. Fuller in a report on Friday, January 19th. Stifel Nicolaus raised their price target on shares of H.B. Fuller from $110.00 to $115.00 and gave the company a buy rating in a report on Friday, January 19th. StockNews.com upgraded shares of H.B. Fuller from a hold rating to a buy rating in a report on Thursday, January 18th. Finally, Vertical Research initiated coverage on H.B. Fuller in a report on Tuesday, March 19th. They issued a buy rating and a $88.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $84.20.

H.B. Fuller Stock Performance

FUL stock traded up $2.22 during trading on Wednesday, reaching $82.58. 588,267 shares of the company’s stock were exchanged, compared to its average volume of 287,296. H.B. Fuller has a 1-year low of $62.57 and a 1-year high of $83.64. The firm has a market cap of $4.48 billion, a PE ratio of 31.03, a P/E/G ratio of 1.26 and a beta of 1.52. The company’s fifty day moving average price is $78.16 and its 200-day moving average price is $75.25. The company has a quick ratio of 1.26, a current ratio of 1.89 and a debt-to-equity ratio of 1.05.

H.B. Fuller (NYSE:FUL) last announced its quarterly earnings data on Thursday, January 18th. The specialty chemicals company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.05. H.B. Fuller had a net margin of 4.13% and a return on equity of 12.73%. The company had revenue of $903.00 million for the quarter, compared to analysts’ expectations of $929.85 million. During the same quarter in the previous year, the company posted $1.04 EPS. The business’s revenue was down 5.7% compared to the same quarter last year. On average, research analysts expect that H.B. Fuller will post 4.35 EPS for the current fiscal year.

H.B. Fuller Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 7th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 0.99%. The ex-dividend date was Tuesday, February 6th. H.B. Fuller’s dividend payout ratio (DPR) is currently 31.66%.

Insider Activity at H.B. Fuller

In related news, VP Heather Campe sold 3,450 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were 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 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 is accessible through the SEC website. In other news, VP Muhammad Shahbaz Malik sold 14,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was 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 directly owns 9,089 shares of the company’s stock, valued at approximately $693,308.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Heather Campe sold 3,450 shares of H.B. Fuller stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $76.83, for a total value of $265,063.50. Following the sale, the vice president now owns 19,736 shares of the company’s stock, valued at $1,516,316.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,693 shares of company stock valued at $2,353,357. Company insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On H.B. Fuller

Several institutional investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. grew its stake in H.B. Fuller by 4.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 66,538 shares of the specialty chemicals company’s stock valued at $4,006,000 after buying an additional 3,081 shares during the last quarter. Luminus Management LLC acquired a new stake in H.B. Fuller in the 1st quarter valued at approximately $3,396,000. Marshall Wace LLP increased its position in H.B. Fuller by 150.1% in the 2nd quarter. Marshall Wace LLP now owns 34,336 shares of the specialty chemicals company’s stock worth $2,455,000 after buying an additional 20,608 shares during the period. BNP Paribas Arbitrage SNC lifted its holdings in shares of H.B. Fuller by 47.4% during the first quarter. BNP Paribas Arbitrage SNC now owns 34,983 shares of the specialty chemicals company’s stock worth $2,395,000 after buying an additional 11,251 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of H.B. Fuller by 55.7% in the first quarter. MetLife Investment Management LLC now owns 27,833 shares of the specialty chemicals company’s stock valued at $1,839,000 after acquiring an additional 9,960 shares during the period. 95.93% of the stock is currently owned by institutional investors.

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.