674,714 Shares in H. B. Fuller Company $FUL Acquired by Norges Bank

Norges Bank bought a new stake in H. B. Fuller Company (NYSE:FUL) in the second quarter, HoldingsChannel reports. The fund bought 674,714 shares of the specialty chemicals company’s stock, valued at approximately $40,584,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cooke & Bieler LP boosted its holdings in shares of H. B. Fuller by 15.8% in the 2nd quarter. Cooke & Bieler LP now owns 759,930 shares of the specialty chemicals company’s stock valued at $45,710,000 after purchasing an additional 103,660 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of H. B. Fuller by 16.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 612,048 shares of the specialty chemicals company’s stock worth $36,815,000 after buying an additional 85,469 shares during the last quarter. Partners Capital Investment Group LLP raised its position in shares of H. B. Fuller by 90.3% in the 1st quarter. Partners Capital Investment Group LLP now owns 64,901 shares of the specialty chemicals company’s stock worth $3,642,000 after buying an additional 30,805 shares during the period. XTX Topco Ltd acquired a new position in H. B. Fuller in the second quarter valued at $1,668,000. Finally, Quantbot Technologies LP grew its position in H. B. Fuller by 612.4% during the first quarter. Quantbot Technologies LP now owns 28,083 shares of the specialty chemicals company’s stock valued at $1,576,000 after acquiring an additional 24,141 shares during the period. Institutional investors and hedge funds own 95.93% of the company’s stock.

H. B. Fuller Trading Up 0.1%

FUL opened at $58.20 on Friday. The firm’s 50 day moving average is $58.32 and its 200-day moving average is $58.69. H. B. Fuller Company has a 52-week low of $47.56 and a 52-week high of $77.77. The company has a quick ratio of 1.18, a current ratio of 1.93 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $3.15 billion, a P/E ratio of 31.46, a P/E/G ratio of 0.94 and a beta of 1.09.

H. B. Fuller (NYSE:FUL) last released its quarterly earnings results on Wednesday, April 13th. The specialty chemicals company reported $0.66 earnings per share for the quarter. H. B. Fuller had a net margin of 3.28% and a return on equity of 11.49%. The business had revenue of $725.90 million during the quarter. H. B. Fuller has set its FY 2022 guidance at $4.100-$4.350 EPS. Analysts expect that H. B. Fuller Company will post 4.07 EPS for the current fiscal year.

H. B. Fuller Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 30th. Stockholders of record on Thursday, October 16th were given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, October 16th. H. B. Fuller’s payout ratio is presently 50.81%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FUL shares. UBS Group started coverage on H. B. Fuller in a report on Friday, November 21st. They issued a “neutral” rating and a $60.00 price objective on the stock. Wall Street Zen cut shares of H. B. Fuller from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of H. B. Fuller in a research note on Monday, December 1st. Seaport Res Ptn raised shares of H. B. Fuller from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. Finally, Citigroup upgraded shares of H. B. Fuller from a “neutral” rating to a “buy” rating and lifted their target price for the company from $62.00 to $70.00 in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.20.

Insider Transactions at H. B. Fuller

In related news, VP Nathan D. Weaver sold 7,075 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $58.38, for a total value of $413,038.50. Following the transaction, the vice president owned 9,441 shares in the company, valued at approximately $551,165.58. The trade was a 42.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John J. Corkrean sold 14,222 shares of the stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $60.31, for a total value of $857,728.82. Following the completion of the transaction, the chief financial officer directly owned 54,646 shares of the company’s stock, valued at $3,295,700.26. This represents a 20.65% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.99% of the stock is currently owned by insiders.

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. It operates through three segments: Hygiene, Health and Consumable Adhesives; Engineering Adhesives; and Construction Adhesives.