Congress Asset Management Co. Makes New Investment in Hawkins, Inc. $HWKN

Key Points

• Congress Asset Management Co. has acquired a new stake in Hawkins, Inc., purchasing 119,324 shares valued at approximately $16.96 million, representing about 0.57% ownership of the company.
• Equities research analysts currently have a consensus rating of "Moderate Buy" for Hawkins, with an average target price of $162.50 following some recent ratings adjustments.
• Hawkins, Inc. recently declared an increased quarterly dividend of $0.19 per share, up from $0.18, reflecting a 0.4% annual yield and a payout ratio of 18.72%.

Congress Asset Management Co. purchased a new stake in Hawkins, Inc. (NASDAQ:HWKN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 119,324 shares of the specialty chemicals company's stock, valued at approximately $16,956,000. Congress Asset Management Co. owned approximately 0.57% of Hawkins at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group increased its stake in Hawkins by 533.3% during the 1st quarter. Brooklyn Investment Group now owns 266 shares of the specialty chemicals company's stock worth $28,000 after acquiring an additional 224 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Hawkins by 118.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 280 shares of the specialty chemicals company's stock worth $30,000 after purchasing an additional 152 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hawkins during the 1st quarter worth $42,000. Russell Investments Group Ltd. bought a new position in shares of Hawkins in the first quarter worth $52,000. Finally, GAMMA Investing LLC raised its stake in Hawkins by 20.4% in the first quarter. GAMMA Investing LLC now owns 531 shares of the specialty chemicals company's stock valued at $56,000 after purchasing an additional 90 shares in the last quarter. 69.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HWKN shares. Raymond James Financial began coverage on shares of Hawkins in a research note 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 increased their price target on shares of Hawkins from $160.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Wall Street Zen downgraded shares of Hawkins from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Hawkins presently has a consensus rating of "Moderate Buy" and an average target price of $162.50.

Hawkins Trading Up 3.2%

HWKN opened at $176.97 on Friday. The company has a market cap of $3.70 billion, a P/E ratio of 43.59, a PEG ratio of 2.43 and a beta of 0.86. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The company's 50 day moving average is $169.69 and its 200-day moving average is $141.72. Hawkins, Inc. has a 1-year low of $98.30 and a 1-year high of $185.50.

Hawkins (NASDAQ:HWKN - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.07. The business had revenue of $293.27 million during 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%. Equities research analysts predict that Hawkins, Inc. will post 4 earnings per share for the current fiscal year.

Hawkins Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, August 15th. This is an increase from Hawkins's previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Hawkins's payout ratio is 18.72%.

Hawkins Profile

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.

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