Allspring Global Investments Holdings LLC Buys 6,193 Shares of Hawkins, Inc. $HWKN

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Hawkins, Inc. by 13.6%, acquiring an additional 6,193 shares, bringing their total to 51,792 shares valued at approximately $7.47 million.
• Hawkins recently reported earnings of $1.40 per share, surpassing analysts’ expectations, with revenue reaching $293.27 million in the last quarter.
• The company raised its quarterly dividend from $0.18 to $0.19 per share, with an annual dividend yield of 0.5% and a payout ratio of 18.72%.

Allspring Global Investments Holdings LLC lifted its position in shares of Hawkins, Inc. (NASDAQ:HWKN - Free Report) by 13.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,792 shares of the specialty chemicals company's stock after buying an additional 6,193 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.25% of Hawkins worth $7,467,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of HWKN. Principal Financial Group Inc. lifted its stake in Hawkins by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 101,785 shares of the specialty chemicals company's stock valued at $10,781,000 after purchasing an additional 2,365 shares during the last quarter. Bridges Investment Management Inc. grew its stake in Hawkins by 111.1% during the first quarter. Bridges Investment Management Inc. now owns 9,289 shares of the specialty chemicals company's stock worth $984,000 after purchasing an additional 4,888 shares during the period. Bessemer Group Inc. increased its stake in shares of Hawkins by 157,110.0% in the 1st quarter. Bessemer Group Inc. now owns 94,326 shares of the specialty chemicals company's stock valued at $9,991,000 after acquiring an additional 94,266 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Hawkins during the first quarter valued at about $244,000. Finally, Raymond James Financial Inc. raised its stake in Hawkins by 2.8% during the 1st quarter. Raymond James Financial Inc. now owns 109,697 shares of the specialty chemicals company's stock worth $11,619,000 after buying an additional 3,010 shares during the period. 69.71% of the stock is currently owned by institutional investors.

Hawkins Stock Down 3.8%

Shares of Hawkins stock opened at $161.75 on Monday. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 39.84, a price-to-earnings-growth ratio of 2.29 and a beta of 0.84. Hawkins, Inc. has a twelve month low of $98.30 and a twelve month high of $186.15. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.59. The company's 50 day moving average is $173.14 and its 200 day moving average is $149.41.

Hawkins (NASDAQ:HWKN - Get Free Report) last released its earnings results on Wednesday, July 30th. The specialty chemicals company reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.07. The company had revenue of $293.27 million for the quarter, compared to analysts' expectations of $278.76 million. Hawkins had a net margin of 8.37% and a return on equity of 18.35%. Research analysts anticipate that Hawkins, Inc. will post 4 EPS for the current year.

Hawkins Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, August 15th. This is an increase from Hawkins's previous quarterly dividend of $0.18. Hawkins's dividend payout ratio (DPR) is 18.72%.

Wall Street Analyst Weigh In

Several equities analysts have commented on HWKN shares. Raymond James Financial began coverage on shares of Hawkins in a research report on Thursday, July 24th. They set a "market perform" rating on the stock. Zacks Research downgraded shares of Hawkins from a "strong-buy" rating to a "hold" rating in a report on Monday, September 22nd. BWS Financial boosted their target price on Hawkins from $160.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Hawkins in a report on Tuesday, October 14th. Finally, Wall Street Zen downgraded shares of Hawkins from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $162.50.

About Hawkins

Hawkins, Inc operates as a specialty chemical and ingredients company in the United States. It operates through three segments: Industrial, Water Treatment, and Health and Nutrition. The Industrial segment offers industrial chemicals, products, and services to agriculture, chemical processing, electronics, energy, food, pharmaceutical, and plating industries.

Want to see what other hedge funds are holding HWKN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hawkins, Inc. (NASDAQ:HWKN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.