Envestnet Asset Management Inc. Has $968,000 Stock Position in Hawkins, Inc. (NASDAQ:HWKN)

Key Points

• Envestnet Asset Management Inc. reduced its stake in Hawkins, Inc. by 31.7%, selling 4,237 shares, leaving it with 9,140 shares valued at approximately $968,000.
• Hawkins recently reported a quarterly EPS of $1.40, exceeding analysts' expectations of $1.33, alongside revenue of $293.27 million for the quarter.
• The company declared an increase in its quarterly dividend to $0.19 per share, which represents an annualized amount of $0.76 and a yield of 0.5%.

Envestnet Asset Management Inc. cut its position in shares of Hawkins, Inc. (NASDAQ:HWKN - Free Report) by 31.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,140 shares of the specialty chemicals company's stock after selling 4,237 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Hawkins were worth $968,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Hawkins by 2.4% during the first quarter. Principal Financial Group Inc. now owns 101,785 shares of the specialty chemicals company's stock valued at $10,781,000 after buying an additional 2,365 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Hawkins by 157,110.0% in the first quarter. Bessemer Group Inc. now owns 94,326 shares of the specialty chemicals company's stock valued at $9,991,000 after acquiring an additional 94,266 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Hawkins by 2.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 45,599 shares of the specialty chemicals company's stock valued at $4,942,000 after acquiring an additional 1,298 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Hawkins by 2.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,327 shares of the specialty chemicals company's stock worth $988,000 after purchasing an additional 239 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Hawkins by 11.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 48,378 shares of the specialty chemicals company's stock worth $5,935,000 after purchasing an additional 4,861 shares during the period. 69.71% of the stock is owned by hedge funds and other institutional investors.

Hawkins Stock Up 6.4%

NASDAQ HWKN traded up $10.23 during trading on Monday, hitting $169.06. The stock had a trading volume of 134,656 shares, compared to its average volume of 149,330. Hawkins, Inc. has a 12 month low of $98.30 and a 12 month high of $171.67. The company has a market capitalization of $3.53 billion, a PE ratio of 41.64, a P/E/G ratio of 2.70 and a beta of 0.81. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.31. The company's 50-day moving average price is $146.20 and its two-hundred day moving average price is $124.76.

Hawkins (NASDAQ:HWKN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.07. The business had revenue of $293.27 million for the quarter, compared to analysts' expectations of $278.76 million. Hawkins had a return on equity of 18.35% and a net margin of 8.37%. As a group, sell-side analysts forecast that Hawkins, Inc. will post 4 EPS for the current year.

Hawkins Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. This is a positive change from Hawkins's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, August 15th. Hawkins's payout ratio is 18.72%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Raymond James Financial initiated coverage on Hawkins in a report on Thursday, July 24th. They set a "market perform" rating for the company. Wall Street Zen lowered shares of Hawkins from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, BWS Financial lifted their price objective on Hawkins from $160.00 to $200.00 and gave the company a "buy" rating in a report on Friday.

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.