Fifth Third Bancorp Grows Stake in Hawkins, Inc. $HWKN

Key Points

• Fifth Third Bancorp dramatically increased its stake in Hawkins during the first quarter, boosting holdings by 15,401.6% to 9,611 shares valued at about $1.48 million.
• Other institutions also added to their positions, and hedge funds now own 69.71% of Hawkins’ outstanding stock, indicating broad institutional interest in the company.
• Analyst sentiment remains cautious: Weiss Ratings downgraded Hawkins to hold, and the stock’s consensus rating is Hold with an average price target of $185, while shares recently traded at $139.33.

Fifth Third Bancorp increased its holdings in shares of Hawkins, Inc. (NASDAQ:HWKN - Free Report) by 15,401.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,611 shares of the specialty chemicals company's stock after buying an additional 9,549 shares during the quarter. Fifth Third Bancorp's holdings in Hawkins were worth $1,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC grew its holdings in shares of Hawkins by 9.0% during the first quarter. AQR Capital Management LLC now owns 12,331 shares of the specialty chemicals company's stock valued at $1,306,000 after buying an additional 1,017 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Hawkins by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,499 shares of the specialty chemicals company's stock worth $1,218,000 after acquiring an additional 494 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Hawkins by 9.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,778 shares of the specialty chemicals company's stock worth $5,590,000 after acquiring an additional 4,400 shares during the period. Jane Street Group LLC lifted its position in Hawkins by 83.2% during the 1st quarter. Jane Street Group LLC now owns 38,416 shares of the specialty chemicals company's stock worth $4,069,000 after acquiring an additional 17,447 shares during the period. Finally, Invesco Ltd. boosted its position in Hawkins by 50.3% in the second quarter. Invesco Ltd. now owns 282,349 shares of the specialty chemicals company's stock valued at $40,122,000 after buying an additional 94,503 shares during the last quarter. Institutional investors and hedge funds own 69.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HWKN shares. Weiss Ratings lowered shares of Hawkins from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 14th. Barclays set a $170.00 target price on Hawkins and gave the stock an "equal weight" rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Hawkins presently has a consensus rating of "Hold" and a consensus price target of $185.00.

Hawkins Price Performance

Shares of HWKN stock opened at $139.33 on Friday. The firm's 50-day moving average is $150.73 and its two-hundred day moving average is $150.58. The company has a market capitalization of $2.91 billion, a PE ratio of 35.63, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.21 and a quick ratio of 1.46. Hawkins, Inc. has a 12 month low of $117.98 and a 12 month high of $186.15.

Hawkins (NASDAQ:HWKN - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The specialty chemicals company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.02). The firm had revenue of $265.91 million for the quarter, compared to analysts' expectations of $255.28 million. Hawkins had a net margin of 7.53% and a return on equity of 16.08%. Analysts predict that Hawkins, Inc. will post 4.27 earnings per share for the current year.

Hawkins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.76 dividend on an annualized basis and a yield of 0.5%. Hawkins's dividend payout ratio (DPR) is currently 19.44%.

About Hawkins

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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