H.B. Fuller (NYSE:FUL) Announces Quarterly Earnings Results, Beats Expectations By $0.09 EPS

H.B. Fuller (NYSE:FUL) posted its quarterly earnings results on Wednesday. The specialty chemicals company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09, Briefing.com reports. H.B. Fuller had a return on equity of 13.33% and a net margin of 4.67%. The firm had revenue of $917.10 million during the quarter, compared to the consensus estimate of $914.22 million. During the same period last year, the company earned $0.93 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. H.B. Fuller updated its FY24 guidance to $4.20-4.45 EPS and its FY 2024 guidance to 4.200-4.450 EPS.

H.B. Fuller Trading Up 0.8 %

Shares of NYSE:FUL traded up $0.61 during trading on Friday, reaching $76.96. The stock had a trading volume of 1,947,778 shares, compared to its average volume of 347,348. H.B. Fuller has a 52 week low of $63.72 and a 52 week high of $84.31. The firm’s fifty day moving average is $78.01 and its 200 day moving average is $78.47. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 26.27, a P/E/G ratio of 1.22 and a beta of 1.48. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.23 and a current ratio of 1.89.

H.B. Fuller Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Thursday, April 25th were issued a $0.222 dividend. The ex-dividend date was Wednesday, April 24th. This is a boost from H.B. Fuller’s previous quarterly dividend of $0.21. This represents a $0.89 annualized dividend and a yield of 1.15%. H.B. Fuller’s dividend payout ratio is presently 30.38%.

Insider Buying and Selling at H.B. Fuller

In related news, EVP James J. East sold 22,316 shares of H.B. Fuller stock in a transaction on Monday, April 8th. The shares were sold at an average price of $78.27, for a total value of $1,746,673.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other H.B. Fuller news, EVP James J. East sold 22,316 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $78.27, for a total transaction of $1,746,673.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Nathan D. Weaver sold 7,292 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $78.64, for a total transaction of $573,442.88. Following the transaction, the vice president now directly owns 4,803 shares of the company’s stock, valued at approximately $377,707.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,253 shares of company stock valued at $2,669,188. 1.96% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FUL has been the subject of several research reports. Robert W. Baird raised their price target on H.B. Fuller from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Vertical Research assumed coverage on shares of H.B. Fuller in a report on Tuesday, March 19th. They set a “buy” rating and a $88.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, H.B. Fuller presently has an average rating of “Hold” and an average target price of $86.20.

H.B. Fuller Company Profile

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.