BlackRock Inc. Makes New $449.06 Million Investment in Hawkins, Inc. $HWKN

Key Points

• BlackRock acquired a major stake in Hawkins: The firm purchased 3.16 million shares valued at approximately $449.1 million, representing 15.13% of the specialty chemicals company. Institutional investors now own 69.71% of Hawkins.
• Hawkins reported quarterly revenue of $315.68 million, exceeding estimates, but earnings of $1.35 per share fell short of the $1.39 consensus. Shares opened at $117.75, near their 52-week low of $116.89.
• The company declared a quarterly dividend of $0.19, equivalent to $0.76 annually and a 0.6% yield. Analyst sentiment is mixed, with a consensus “Hold” rating and a $171 price target.

BlackRock Inc. bought a new position in Hawkins, Inc. (NASDAQ:HWKN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,160,135 shares of the specialty chemicals company's stock, valued at approximately $449,055,000. BlackRock Inc. owned 15.13% of Hawkins as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kestra Advisory Services LLC bought a new position in Hawkins in the fourth quarter worth approximately $29,000. MBM Wealth Consultants LLC purchased a new stake in shares of Hawkins during the first quarter worth about $33,000. Simplex Trading LLC grew its stake in shares of Hawkins by 246.0% during the fourth quarter. Simplex Trading LLC now owns 346 shares of the specialty chemicals company's stock worth $49,000 after acquiring an additional 246 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Hawkins during the third quarter valued at about $79,000. Finally, iSAM Funds UK Ltd acquired a new position in shares of Hawkins during the third quarter valued at about $102,000. Institutional investors own 69.71% of the company's stock.

Hawkins Stock Performance

Shares of HWKN stock opened at $117.75 on Tuesday. Hawkins, Inc. has a 52-week low of $116.89 and a 52-week high of $186.15. The company has a quick ratio of 1.54, a current ratio of 2.27 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2.46 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 2.45 and a beta of 0.79. The business has a 50-day simple moving average of $139.45 and a 200-day simple moving average of $147.66.

Hawkins (NASDAQ:HWKN - Get Free Report) last posted its earnings results on Wednesday, July 29th. The specialty chemicals company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.04). Hawkins had a return on equity of 15.42% and a net margin of 7.29%.The company had revenue of $315.68 million for the quarter, compared to analyst estimates of $313.42 million. On average, equities analysts expect that Hawkins, Inc. will post 4.04 EPS for the current year.

Hawkins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.19 dividend. The ex-dividend date of this dividend is 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 Ratings Changes

A number of research firms recently commented on HWKN. Weiss Ratings cut shares of Hawkins from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 14th. Barclays set a $142.00 price target on shares of Hawkins and gave the company an "equal weight" rating in a research note on Friday, July 31st. BWS Financial reaffirmed a "buy" rating and issued a $200.00 price target on shares of Hawkins in a report on Monday, August 3rd. Finally, Zacks Research lowered shares of Hawkins from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $171.00.

Hawkins Company 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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