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

H.B. Fuller (NYSE:FUL) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $4.15-4.45 for the period, compared to the consensus EPS 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

A number of brokerages recently weighed in on FUL. Vertical Research began coverage on H.B. Fuller in a research report on Tuesday, March 19th. They set a buy rating and a $88.00 price objective on the stock. Stifel Nicolaus increased their price target on H.B. Fuller from $110.00 to $115.00 and gave the company a buy rating in a research note on Friday, January 19th. StockNews.com upgraded H.B. Fuller from a hold rating to a buy rating in a research note on Thursday, January 18th. Finally, Robert W. Baird restated a neutral rating and issued a $80.00 price objective on shares of H.B. Fuller in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $84.20.

H.B. Fuller Trading Up 2.8 %

Shares of FUL traded up $2.22 during mid-day trading on Wednesday, reaching $82.58. The stock had a trading volume of 588,267 shares, compared to its average volume of 287,296. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.89 and a quick ratio of 1.26. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 31.03, a P/E/G ratio of 1.26 and a beta of 1.52. The business’s fifty day moving average is $78.16 and its 200 day moving average is $75.25. H.B. Fuller has a 52-week low of $62.57 and a 52-week high of $83.64.

H.B. Fuller (NYSE:FUL) last issued its earnings results on Thursday, January 18th. The specialty chemicals company reported $1.32 earnings per share for the quarter, beating 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 firm had revenue of $903.00 million for the quarter, compared to analysts’ expectations of $929.85 million. During the same quarter last year, the company earned $1.04 earnings per share. The firm’s revenue was down 5.7% compared to the same quarter last year. On average, sell-side analysts predict 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 $0.205 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.82 annualized dividend and a yield of 0.99%. H.B. Fuller’s payout ratio is currently 31.66%.

Insider Activity

In other news, VP Heather Campe sold 3,450 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $76.83, for a total value of $265,063.50. Following the completion of the sale, the vice president now owns 19,736 shares of the company’s stock, valued at $1,516,316.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Heather Campe sold 3,450 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $76.83, for a total value of $265,063.50. Following the completion of the sale, the vice president now directly owns 19,736 shares of the company’s stock, valued at $1,516,316.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Muhammad Shahbaz Malik sold 14,000 shares of H.B. Fuller stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $76.28, for a total value of $1,067,920.00. Following the completion of the transaction, the vice president now owns 9,089 shares of the company’s stock, valued at approximately $693,308.92. The disclosure for this sale can be found here. Insiders sold 30,693 shares of company stock valued at $2,353,357 in the last ninety days. Company insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On H.B. Fuller

Large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. grew its stake in shares of H.B. Fuller by 25.3% in the third quarter. Ameriprise Financial Inc. now owns 425,162 shares of the specialty chemicals company’s stock worth $29,170,000 after purchasing an additional 85,716 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of H.B. Fuller by 5.8% in the 1st quarter. Geode Capital Management LLC now owns 999,922 shares of the specialty chemicals company’s stock worth $68,445,000 after acquiring an additional 55,005 shares during the period. Luminus Management LLC acquired a new stake in H.B. Fuller in the first quarter worth approximately $3,396,000. Marshall Wace LLP boosted its stake in H.B. Fuller by 150.1% during the 2nd quarter. Marshall Wace LLP now owns 34,336 shares of the specialty chemicals company’s stock valued at $2,455,000 after purchasing an additional 20,608 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in shares of H.B. Fuller in the 3rd quarter worth $996,000. Institutional investors own 95.93% of the company’s stock.

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.