Bank of New York Mellon Corp Purchases Shares of 508,002 H. B. Fuller Company $FUL

Key Points

• Bank of New York Mellon acquired 508,002 H. B. Fuller shares valued at approximately $29.6 million, representing about 0.94% of the company. Institutional investors and hedge funds collectively own 95.93% of the stock.
• H. B. Fuller exceeded quarterly expectations, reporting $1.41 earnings per share and $950.27 million in revenue, with revenue up 5.8% year over year.
• The stock traded at $56.45, while analysts maintained a consensus “Buy” rating and an average price target of $67.86; the company also pays a quarterly dividend of $0.245, yielding about 1.7%.

Bank of New York Mellon Corp acquired a new position in shares of H. B. Fuller Company (NYSE:FUL - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 508,002 shares of the specialty chemicals company's stock, valued at approximately $29,611,000. Bank of New York Mellon Corp owned approximately 0.94% of H. B. Fuller as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new stake in H. B. Fuller during the fourth quarter valued at about $44,203,000. Royal Bank of Canada boosted its position in shares of H. B. Fuller by 2,694.7% in the first quarter. Royal Bank of Canada now owns 675,765 shares of the specialty chemicals company's stock worth $41,681,000 after buying an additional 651,585 shares during the period. UBS Group AG grew its holdings in shares of H. B. Fuller by 200.8% during the third quarter. UBS Group AG now owns 820,871 shares of the specialty chemicals company's stock valued at $48,661,000 after buying an additional 548,017 shares in the last quarter. Verition Fund Management LLC raised its position in H. B. Fuller by 1,379.5% during the fourth quarter. Verition Fund Management LLC now owns 383,955 shares of the specialty chemicals company's stock valued at $22,830,000 after buying an additional 358,003 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in H. B. Fuller by 52.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 820,255 shares of the specialty chemicals company's stock worth $48,772,000 after acquiring an additional 281,707 shares in the last quarter. 95.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at H. B. Fuller

In other H. B. Fuller news, VP Nathan D. Weaver sold 9,561 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $62.06, for a total transaction of $593,355.66. Following the completion of the sale, the vice president owned 11,739 shares of the company's stock, valued at $728,522.34. This represents a 44.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.83% of the stock is owned by insiders.

H. B. Fuller Trading Down 1.0%

H. B. Fuller stock opened at $56.45 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.80 and a quick ratio of 1.12. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.61 and a beta of 0.98. H. B. Fuller Company has a one year low of $48.71 and a one year high of $68.63. The company's fifty day moving average price is $58.46 and its two-hundred day moving average price is $60.27.

H. B. Fuller (NYSE:FUL - Get Free Report) last announced its quarterly earnings results on Thursday, June 25th. The specialty chemicals company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.04. The company had revenue of $950.27 million during the quarter, compared to analysts' expectations of $924.83 million. H. B. Fuller had a return on equity of 12.18% and a net margin of 5.29%.The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 earnings per share. On average, analysts forecast that H. B. Fuller Company will post 4.87 earnings per share for the current fiscal year.

H. B. Fuller Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were issued a $0.245 dividend. This represents a $0.98 annualized dividend and a yield of 1.7%. The ex-dividend date was Thursday, July 30th. H. B. Fuller's payout ratio is 30.06%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Raymond James Financial set a $67.00 target price on H. B. Fuller in a research note on Friday, June 26th. Wall Street Zen cut shares of H. B. Fuller from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. JPMorgan Chase & Co. upgraded H. B. Fuller from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $58.00 to $67.00 in a report on Friday, June 26th. UBS Group set a $69.00 target price on H. B. Fuller in a research report on Friday, June 26th. Finally, The Goldman Sachs Group set a $67.00 price target on H. B. Fuller in a report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $67.86.

About H. B. Fuller

H. B. Fuller Company, founded in 1887 and headquartered in St. Paul, Minnesota, is a global adhesives and specialty chemical solutions provider serving a wide array of industries. The company develops, manufactures and markets adhesive technologies, sealants, polymers and related chemical products designed to enhance product performance, sustainability and manufacturing efficiency.

Fuller's product portfolio spans multiple market segments, including packaging and converting, general industrial assembly, electronics, transportation, hygiene and construction.

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