Bank of New York Mellon Corp Makes New $20.07 Million Investment in Hawkins, Inc. $HWKN

Key Points

• Bank of New York Mellon acquired 141,243 Hawkins shares worth approximately $20.07 million, giving it a 0.68% stake; institutional investors collectively own 69.71% of the company.
• Hawkins reported quarterly EPS of $1.35, slightly below the $1.39 consensus estimate, while revenue of $315.68 million exceeded expectations. Shares opened at $120.35, near the lower end of their 52-week range.
• The company paid a quarterly dividend of $0.19 per share, equivalent to an annualized $0.76 dividend and a 0.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $171.

Bank of New York Mellon Corp purchased a new stake in Hawkins, Inc. (NASDAQ:HWKN - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund purchased 141,243 shares of the specialty chemicals company's stock, valued at approximately $20,071,000. Bank of New York Mellon Corp owned about 0.68% of Hawkins at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Kestra Advisory Services LLC bought a new position in shares of Hawkins during the fourth quarter valued at approximately $29,000. MBM Wealth Consultants LLC bought a new position in Hawkins during the 1st quarter worth $33,000. Simplex Trading LLC increased its position in Hawkins by 246.0% in the fourth quarter. Simplex Trading LLC now owns 346 shares of the specialty chemicals company's stock worth $49,000 after buying an additional 246 shares during the period. Advisory Services Network LLC acquired a new stake in Hawkins in the third quarter worth $79,000. Finally, New Age Alpha Advisors LLC bought a new stake in Hawkins in the fourth quarter valued at $93,000. 69.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Douglas A. Lange acquired 910 shares of the company's stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $118.75 per share, for a total transaction of $108,062.50. Following the purchase, the vice president owned 28,169 shares in the company, valued at $3,345,068.75. This represents a 3.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.70% of the company's stock.

Hawkins Stock Performance

Shares of NASDAQ HWKN opened at $120.35 on Monday. The company has a current ratio of 2.27, a quick ratio of 1.54 and a debt-to-equity ratio of 0.45. Hawkins, Inc. has a one year low of $116.04 and a one year high of $186.15. The business has a 50-day moving average price of $136.09 and a two-hundred day moving average price of $147.24. The firm has a market capitalization of $2.51 billion, a PE ratio of 31.18, a PEG ratio of 2.45 and a beta of 0.79.

Hawkins (NASDAQ:HWKN - Get Free Report) last issued its 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). The business had revenue of $315.68 million during the quarter, compared to analyst estimates of $313.42 million. Hawkins had a net margin of 7.29% and a return on equity of 15.42%. As a group, analysts predict that Hawkins, Inc. will post 4.1 earnings per share for the current fiscal year.

Hawkins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.76 dividend on an annualized basis and a yield of 0.6%. Hawkins's payout ratio is presently 20.73%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HWKN. Weiss Ratings lowered shares of Hawkins from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday. Barclays set a $142.00 price objective on shares of Hawkins and gave the company an "equal weight" rating in a research report on Friday, July 31st. BWS Financial reissued a "buy" rating and set a $200.00 target price on shares of Hawkins in a research note on Monday, August 3rd. Finally, Zacks Research cut shares of Hawkins from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.

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