9,867 Shares in Hawkins, Inc. $HWKN Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company acquired 9,867 Hawkins shares worth approximately $1.4 million in the second quarter, while institutional investors collectively own 69.71% of the company.
• Hawkins reported quarterly revenue of $315.68 million, exceeding estimates, but earnings per share of $1.35 fell short of the $1.39 consensus forecast. The company also declared a quarterly dividend of $0.19, representing a 0.6% yield.
• Company insiders purchased shares, including 910 shares bought by Vice President Douglas Lange and 1,290 shares acquired by CFO Jeffrey Oldenkamp. Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $171.

The Manufacturers Life Insurance Company purchased a new stake in shares of Hawkins, Inc. (NASDAQ:HWKN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,867 shares of the specialty chemicals company's stock, valued at approximately $1,402,000.

Several other large investors also recently made changes to their positions in the business. Values First Advisors Inc. increased its stake in shares of Hawkins by 0.8% in the first quarter. Values First Advisors Inc. now owns 9,855 shares of the specialty chemicals company's stock valued at $1,514,000 after buying an additional 79 shares in the last quarter. Truist Financial Corp grew its holdings in Hawkins by 4.7% during the 4th quarter. Truist Financial Corp now owns 1,852 shares of the specialty chemicals company's stock worth $263,000 after acquiring an additional 83 shares during the last quarter. ProShare Advisors LLC increased its position in Hawkins by 3.0% in the 4th quarter. ProShare Advisors LLC now owns 3,815 shares of the specialty chemicals company's stock valued at $542,000 after acquiring an additional 112 shares in the last quarter. Quantinno Capital Management LP increased its position in Hawkins by 0.9% in the 2nd quarter. Quantinno Capital Management LP now owns 13,618 shares of the specialty chemicals company's stock valued at $1,935,000 after acquiring an additional 124 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its stake in shares of Hawkins by 6.1% in the first quarter. Sanctuary Advisors LLC now owns 2,371 shares of the specialty chemicals company's stock worth $364,000 after acquiring an additional 137 shares during the last quarter. Institutional investors own 69.71% of the company's stock.

Hawkins Trading Up 2.3%

Shares of NASDAQ HWKN opened at $129.33 on Friday. Hawkins, Inc. has a fifty-two week low of $116.04 and a fifty-two week high of $186.15. The firm has a market capitalization of $2.70 billion, a P/E ratio of 33.51, a P/E/G ratio of 2.57 and a beta of 0.77. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.27 and a quick ratio of 1.54. The company's 50 day simple moving average is $132.97 and its 200 day simple moving average is $146.65.

Hawkins (NASDAQ:HWKN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The specialty chemicals company reported $1.35 earnings per share for the quarter, missing analysts' consensus estimates of $1.39 by ($0.04). Hawkins had a net margin of 7.29% and a return on equity of 15.42%. The company had revenue of $315.68 million during the quarter, compared to analyst estimates of $313.42 million. On average, analysts predict that Hawkins, Inc. will post 4.1 EPS for the current year.

Hawkins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.19 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.76 annualized dividend and a yield of 0.6%. Hawkins's dividend payout ratio (DPR) is 20.73%.

Insider Buying and Selling at Hawkins

In other news, VP Douglas Lange acquired 910 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was acquired at an average price of $118.75 per share, for a total transaction of $108,062.50. Following the transaction, the vice president directly owned 28,169 shares in the company, valued at approximately $3,345,068.75. This represents a 3.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jeffrey P. Oldenkamp bought 1,290 shares of Hawkins stock in a transaction on Thursday, August 27th. The shares were acquired at an average price of $119.00 per share, for a total transaction of $153,510.00. Following the completion of the acquisition, the chief financial officer owned 104,223 shares of the company's stock, valued at approximately $12,402,537. This represents a 1.25% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.70% of the company's stock.

Analyst Ratings Changes

HWKN has been the topic of several research analyst reports. BWS Financial reissued a "buy" rating and set a $200.00 price target on shares of Hawkins in a research note on Monday, August 3rd. Weiss Ratings lowered Hawkins from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, August 27th. Barclays set a $142.00 target price on Hawkins and gave the stock an "equal weight" rating in a research 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 equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Hawkins currently has a consensus rating of "Hold" and an average target price of $171.00.

Hawkins Profile

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.

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