Zacks Investment Research downgraded shares of H. B. Fuller Company (NYSE:FUL) from a hold rating to a sell rating in a research note issued to investors on Monday, July 3rd.
According to Zacks, “H.B. Fuller Company is a worldwide manufacturer and marketer of adhesives, sealants, coatings, paints and other specialty chemical products. The company’s largest worldwide business category is adhesives, sealants and coatings. These products are sold to customers in a wide range of industries, including packaging, woodworking, automotive, aerospace, graphic arts (books/magazines), appliances, filtration, windows, sporting goods, nonwovens, shoes and ceramic tile. “
Several other research firms have also issued reports on FUL. BidaskClub raised shares of H. B. Fuller from a hold rating to a buy rating in a research report on Saturday, June 10th. Citigroup Inc. raised their price objective on shares of H. B. Fuller from $55.00 to $59.00 and gave the stock a buy rating in a report on Tuesday, April 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. H. B. Fuller currently has an average rating of Hold and a consensus target price of $52.40.
Shares of H. B. Fuller (NYSE FUL) traded up 0.17% during midday trading on Monday, reaching $51.62. The company’s stock had a trading volume of 172,430 shares. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 22.94 and a beta of 1.68. The firm’s 50 day moving average is $51.74 and its 200 day moving average is $50.91. H. B. Fuller has a 52 week low of $41.52 and a 52 week high of $54.32.
H. B. Fuller (NYSE:FUL) last released its earnings results on Wednesday, June 28th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.05. H. B. Fuller had a net margin of 5.23% and a return on equity of 13.32%. The company had revenue of $561.65 million during the quarter. During the same period in the previous year, the firm posted $0.67 EPS. Equities analysts forecast that H. B. Fuller will post $2.60 EPS for the current fiscal year.
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H. B. Fuller declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the specialty chemicals company to purchase up to 7.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Thursday, July 27th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, July 25th. This represents a $0.60 dividend on an annualized basis and a yield of 1.16%. H. B. Fuller’s payout ratio is presently 27.40%.
In related news, VP David W. Moorman sold 1,683 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $52.76, for a total transaction of $88,795.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Dietrich J. Crail acquired 970 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were bought at an average price of $51.41 per share, for a total transaction of $49,867.70. Following the completion of the acquisition, the vice president now owns 970 shares of the company’s stock, valued at $49,867.70. The disclosure for this purchase can be found here. 3.10% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Tyers Asset Management LLC raised its stake in shares of H. B. Fuller by 6.6% in the first quarter. Tyers Asset Management LLC now owns 2,064 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 128 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in shares of H. B. Fuller during the first quarter valued at about $117,000. Elkfork Partners LLC raised its stake in shares of H. B. Fuller by 6.6% in the first quarter. Elkfork Partners LLC now owns 2,838 shares of the specialty chemicals company’s stock valued at $146,000 after buying an additional 176 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in shares of H. B. Fuller by 6.6% in the first quarter. Meadow Creek Investment Management LLC now owns 3,612 shares of the specialty chemicals company’s stock valued at $186,000 after buying an additional 224 shares during the last quarter. Finally, LaSalle Street Capital Management LLC acquired a new stake in shares of H. B. Fuller during the first quarter valued at about $207,000. Institutional investors and hedge funds own 93.39% of the company’s stock.
About H. B. Fuller
H.B. Fuller Company is a formulator, manufacturer and marketer of adhesives, sealants and other specialty chemical products. The Company’s segments include Americas Adhesives, Europe, India, Middle East and Africa (EIMEA), Asia Pacific, Construction Products and Engineering Adhesives. The Americas Adhesives, EIMEA and Asia Pacific operating segments produce and supply industrial adhesives products for applications in various markets, including durable assembly, nonwoven and hygiene, and textile.
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