Bank of America Corp DE raised its stake in H. B. Fuller Company (NYSE:FUL) by 36.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 189,510 shares of the specialty chemicals company’s stock after buying an additional 50,441 shares during the period. Bank of America Corp DE owned 0.38% of H. B. Fuller worth $9,771,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the stock. Glen Harbor Capital Management LLC increased its stake in H. B. Fuller by 6.6% in the first quarter. Glen Harbor Capital Management LLC now owns 4,386 shares of the specialty chemicals company’s stock worth $226,000 after buying an additional 272 shares during the period. ProShare Advisors LLC boosted its position in H. B. Fuller by 15.0% in the first quarter. ProShare Advisors LLC now owns 154,213 shares of the specialty chemicals company’s stock worth $7,951,000 after buying an additional 20,060 shares in the last quarter. Diversified Trust Co purchased a new position in H. B. Fuller during the first quarter worth approximately $247,000. State of Alaska Department of Revenue boosted its position in H. B. Fuller by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 5,570 shares of the specialty chemicals company’s stock worth $287,000 after buying an additional 130 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in H. B. Fuller by 6.7% in the first quarter. Nisa Investment Advisors LLC now owns 20,320 shares of the specialty chemicals company’s stock valued at $1,048,000 after buying an additional 1,270 shares during the period. Hedge funds and other institutional investors own 93.34% of the company’s stock.
Shares of H. B. Fuller Company (NYSE:FUL) opened at 51.61 on Tuesday. The stock has a 50 day moving average of $51.68 and a 200-day moving average of $50.93. H. B. Fuller Company has a 12 month low of $41.52 and a 12 month high of $54.32. The firm has a market capitalization of $2.61 billion, a PE ratio of 23.59 and a beta of 1.68.
H. B. Fuller (NYSE:FUL) last issued its quarterly earnings data on Wednesday, June 28th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.05. H. B. Fuller had a net margin of 5.23% and a return on equity of 13.32%. The company had revenue of $561.65 million during the quarter. During the same quarter last year, the firm earned $0.67 earnings per share. On average, equities research analysts anticipate that H. B. Fuller Company will post $2.60 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Thursday, July 27th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Tuesday, July 25th. H. B. Fuller’s dividend payout ratio is currently 27.40%.
H. B. Fuller declared that its board has approved a share repurchase program on Thursday, April 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the specialty chemicals company to buy up to 7.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
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FUL has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of H. B. Fuller from a “buy” rating to a “hold” rating in a research note on Monday, April 3rd. Citigroup Inc. upped their price target on shares of H. B. Fuller from $55.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, April 4th. Finally, BidaskClub raised shares of H. B. Fuller from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. H. B. Fuller has a consensus rating of “Hold” and an average target price of $52.40.
In other news, VP Dietrich J. Crail acquired 970 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were bought at an average price of $51.41 per share, with a total value of $49,867.70. Following the acquisition, the vice president now owns 970 shares of the company’s stock, valued at $49,867.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by company insiders.
H. B. Fuller Company Profile
H.B. Fuller Company is a formulator, manufacturer and marketer of adhesives, sealants and other specialty chemical products. The Company’s segments include Americas Adhesives, Europe, India, Middle East and Africa (EIMEA), Asia Pacific, Construction Products and Engineering Adhesives. The Americas Adhesives, EIMEA and Asia Pacific operating segments produce and supply industrial adhesives products for applications in various markets, including durable assembly, nonwoven and hygiene, and textile.
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