NewEdge Wealth LLC Invests $1.39 Million in Hawkins, Inc. $HWKN

NewEdge Wealth LLC acquired a new position in shares of Hawkins, Inc. (NASDAQ:HWKN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,772 shares of the specialty chemicals company’s stock, valued at approximately $1,389,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HWKN. Diversify Advisory Services LLC purchased a new position in Hawkins in the second quarter worth $1,813,000. BlackRock Inc. purchased a new stake in shares of Hawkins during the 2nd quarter valued at $449,055,000. Deutsche Bank AG purchased a new stake in shares of Hawkins during the 2nd quarter valued at $3,027,000. Rice Hall James & Associates LLC acquired a new stake in shares of Hawkins in the 2nd quarter worth $3,075,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in shares of Hawkins in the 2nd quarter worth $575,000. Hedge funds and other institutional investors own 69.71% of the company’s stock.

Hawkins Stock Down 0.3%

Shares of HWKN stock opened at $118.99 on Friday. The stock has a 50 day moving average of $140.27 and a 200 day moving average of $147.56. The company has a current ratio of 2.27, a quick ratio of 1.54 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2.48 billion, a P/E ratio of 30.83, a P/E/G ratio of 2.46 and a beta of 0.79. Hawkins, Inc. has a twelve month low of $117.98 and a twelve month high of $186.15.

Hawkins (NASDAQ:HWKN) last released its quarterly earnings data on Wednesday, July 29th. The specialty chemicals company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.04). The company had revenue of $315.68 million during the quarter, compared to analysts’ expectations of $313.42 million. Hawkins had a return on equity of 15.42% and a net margin of 7.29%. As a group, sell-side analysts expect that Hawkins, Inc. will post 4.04 EPS for the current year.

Hawkins Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, August 14th. Hawkins’s dividend payout ratio (DPR) is currently 20.73%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Weiss Ratings downgraded Hawkins from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 14th. BWS Financial reiterated a “buy” rating and issued a $200.00 price target on shares of Hawkins in a research note on Monday, August 3rd. Barclays set a $142.00 price target on Hawkins and gave the stock an “equal weight” rating in a report on Friday, July 31st. Finally, Zacks Research lowered Hawkins from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Hawkins has an average rating of “Hold” and a consensus price target of $171.00.

About Hawkins

Hawkins, Inc (NASDAQ: HWKN) is a specialty chemical company that produces and distributes water-treatment and industrial chemicals across North America. Founded in 1938 and headquartered in Roseville, Minnesota, the company has built a network of manufacturing facilities and distribution centers that serve municipal, industrial and commercial customers. As a publicly traded entity, Hawkins leverages its long-standing presence in the chemical distribution industry to provide tailored solutions for complex water-treatment challenges and specialty chemical needs.

Hawkins’ product portfolio encompasses a wide range of chemicals, including sodium hypochlorite, sodium hydroxide, hydrogen peroxide, chlorine, acids and specialty blends.