Corient Private Wealth LP Makes New Investment in Hawkins, Inc. $HWKN

Key Points

• Corient Private Wealth initiated a $1.27 million position in Hawkins during the second quarter, purchasing 8,949 shares. Institutional investors collectively own approximately 69.71% of the company.
• Hawkins reported quarterly revenue of $315.68 million, exceeding estimates, but earnings of $1.35 per share fell short of the $1.39 consensus forecast. The stock recently traded at $129.13, well below its 52-week high of $186.15.
• The company declared a quarterly dividend of $0.19, equivalent to $0.76 annually and a 0.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $171, while two company executives recently purchased additional shares.

Corient Private Wealth LP bought a new stake in Hawkins, Inc. (NASDAQ:HWKN - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,949 shares of the specialty chemicals company's stock, valued at approximately $1,272,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new stake in shares of Hawkins during the 4th quarter worth about $29,000. MBM Wealth Consultants LLC purchased a new position in shares of Hawkins during the first quarter worth about $33,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Hawkins during the second quarter worth about $37,000. Simplex Trading LLC lifted its holdings in shares of Hawkins by 246.0% in the 4th quarter. Simplex Trading LLC now owns 346 shares of the specialty chemicals company's stock valued at $49,000 after purchasing an additional 246 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Hawkins in the 3rd quarter valued at about $79,000. Hedge funds and other institutional investors own 69.71% of the company's stock.

Hawkins Stock Performance

HWKN stock opened at $129.13 on Friday. 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 company has a 50-day simple moving average of $132.32 and a 200 day simple moving average of $146.53. Hawkins, Inc. has a fifty-two week low of $116.04 and a fifty-two week high of $186.15. The company has a market capitalization of $2.70 billion, a P/E ratio of 33.45, a PEG ratio of 2.63 and a beta of 0.77.

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). Hawkins had a return on equity of 15.42% and a net margin of 7.29%.The business had revenue of $315.68 million for the quarter, compared to the consensus estimate of $313.42 million. Sell-side analysts predict that Hawkins, Inc. will post 4.1 earnings per share for the current fiscal year.

Hawkins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.6%. Hawkins's dividend payout ratio (DPR) is currently 20.73%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays set a $142.00 price target on Hawkins and gave the stock an "equal weight" rating in a research note on Friday, July 31st. Weiss Ratings cut Hawkins from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, August 27th. BWS Financial restated a "buy" rating and set a $200.00 target price on shares of Hawkins in a research report on Monday, August 3rd. Finally, Zacks Research cut shares of Hawkins from a "hold" rating to a "strong sell" rating in a 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.com, Hawkins has an average rating of "Hold" and an average target price of $171.00.

Insider Transactions at Hawkins

In related news, CFO Jeffrey P. Oldenkamp bought 1,290 shares of Hawkins stock in a transaction that occurred on Thursday, August 27th. The stock was acquired at an average price of $119.00 per share, for a total transaction of $153,510.00. Following the completion of the purchase, the chief financial officer owned 104,223 shares in the company, valued at approximately $12,402,537. This represents a 1.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Douglas A. Lange acquired 910 shares of the firm's stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average cost of $118.75 per share, for a total transaction of $108,062.50. Following the acquisition, the vice president directly owned 28,169 shares in the company, valued at $3,345,068.75. This represents a 3.34% increase in their position. The SEC filing for this purchase provides additional information. 3.70% of the stock is owned by corporate insiders.

Hawkins 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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