JPMorgan Chase & Co. Cuts H. B. Fuller (NYSE:FUL) Price Target to $66.00

H. B. Fuller (NYSE:FUL) had its target price decreased by JPMorgan Chase & Co. from $67.00 to $66.00 in a research note issued to investors on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty chemicals company’s stock.

A number of other equities analysts have also issued reports on FUL. Wall Street Zen lowered shares of H. B. Fuller from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Weiss Ratings downgraded shares of H. B. Fuller from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, September 14th. Citigroup reduced their price target on shares of H. B. Fuller from $75.00 to $63.00 and set a “buy” rating for the company in a research note on Monday. Zacks Research cut shares of H. B. Fuller from a “strong-buy” rating to a “hold” rating in a report on Friday, September 18th. Finally, UBS Group set a $69.00 price objective on shares of H. B. Fuller in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.62.

H. B. Fuller Trading Up 0.0%

Shares of FUL stock opened at $49.62 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.10 and a current ratio of 1.82. H. B. Fuller has a 1 year low of $46.70 and a 1 year high of $68.63. The stock has a fifty day moving average of $55.33 and a two-hundred day moving average of $58.21. The firm has a market capitalization of $2.67 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 0.54 and a beta of 0.97.

H. B. Fuller (NYSE:FUL) last released its quarterly earnings results on Thursday, September 24th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.05. The company had revenue of $938.17 million during the quarter, compared to analysts’ expectations of $945.59 million. H. B. Fuller had a return on equity of 12.65% and a net margin of 5.56%.The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 earnings per share. As a group, research analysts expect that H. B. Fuller will post 4.83 EPS for the current year.

H. B. Fuller Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were issued a $0.2450 dividend. This represents a $0.98 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Thursday, July 30th. H. B. Fuller’s dividend payout ratio is presently 27.30%.

Insider Activity at H. B. Fuller

In other H. B. Fuller news, Director Charles T. Lauber acquired 2,005 shares of H. B. Fuller stock in a transaction dated Tuesday, September 29th. The stock was bought at an average price of $49.87 per share, for a total transaction of $99,989.35. Following the transaction, the director owned 3,356 shares in the company, valued at approximately $167,363.72. This trade represents a 148.41% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Nathan Weaver sold 9,561 shares of H. B. Fuller stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $62.06, for a total transaction of $593,355.66. Following the completion of the transaction, the vice president directly owned 11,739 shares in the company, valued at $728,522.34. This represents a 44.89% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have purchased 10,117 shares of company stock worth $499,065. Company insiders own 1.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FUL. Dimensional Fund Advisors LP lifted its holdings in shares of H. B. Fuller by 5.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,608,006 shares of the specialty chemicals company’s stock valued at $160,854,000 after purchasing an additional 132,558 shares during the last quarter. Norges Bank purchased a new position in H. B. Fuller in the 4th quarter worth about $44,203,000. Royal Bank of Canada raised its holdings in H. B. Fuller by 2,694.7% during the 1st quarter. Royal Bank of Canada now owns 675,765 shares of the specialty chemicals company’s stock worth $41,681,000 after buying an additional 651,585 shares during the period. Kennedy Capital Management LLC lifted its stake in H. B. Fuller by 43.4% during the fourth quarter. Kennedy Capital Management LLC now owns 630,194 shares of the specialty chemicals company’s stock valued at $37,471,000 after buying an additional 190,750 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of H. B. Fuller by 36.3% in the first quarter. Bank of America Corp DE now owns 513,163 shares of the specialty chemicals company’s stock worth $31,652,000 after buying an additional 136,666 shares during the period. Institutional investors own 95.93% of the company’s stock.

Key Headlines Impacting H. B. Fuller

Here are the key news stories impacting H. B. Fuller this week:

• Positive Sentiment: Ancora raised its bid for H.B. Fuller’s building adhesives unit to as much as $1.4 billion in cash. The higher offer, reportedly backed by Fortress, increases the potential for a sale and could unlock value from the business. It also adds pressure on H. B. Fuller’s board to evaluate strategic alternatives for the unit. Ancora raises bid for H.B. Fuller building unit to $1.4 billion, Bloomberg says
• Positive Sentiment: Several directors made sizable open-market purchases of FUL shares. Directors Srilata Zaheer, Charles T. Lauber, Teresa Rasmussen, Daniel L. Florness and Thomas W. Handley collectively bought roughly $500,000 of stock at prices between $48.96 and $49.87. The purchases substantially increased their individual holdings and may bolster investor confidence in the company’s valuation. H. B. Fuller insider purchase filing
• Neutral Sentiment: H. B. Fuller recently reported better-than-expected earnings. Quarterly earnings per share exceeded estimates, and revenue increased year over year, although sales were slightly below analysts’ expectations. The results provide fundamental support but are being overshadowed by the strategic review and activist campaign.
• Negative Sentiment: JPMorgan issued a pessimistic forecast for H. B. Fuller’s stock. The caution highlights continuing concerns about the company’s outlook and could limit the benefit from the potential asset sale. JPMorgan forecast for H. B. Fuller
• Negative Sentiment: Deutsche Bank lowered its price target from $72 to $62, citing a more cautious valuation, although it maintained a “buy” rating. The revised target still implies meaningful upside and therefore makes the signal mixed rather than outright bearish. Ancora increased offer for H.B. Fuller unit

H. B. Fuller Company Profile

H.B. Fuller Company (NYSE: FUL) develops and manufactures specialty adhesives, sealants and other chemical-based products used in industrial and commercial applications. Its solutions help customers bond, seal, coat and assemble materials across a range of products and manufacturing processes.

The company serves markets including packaging, hygiene and disposable products, construction, transportation, electronics, durable assembly, woodworking, flooring, composites and renewable energy.