First Trust Advisors LP Sells 48,265 Shares of Hawkins, Inc. $HWKN

Key Points

• First Trust Advisors LP reduced its stake in Hawkins by 20.0%, selling 48,265 shares in Q3 and ending with 192,632 shares worth about $35.2 million (≈0.92% of the company).
• Director James A. Faulconbridge purchased 1,500 shares at $129.29 on Feb. 4, raising his holdings to 50,907 shares (a 3.04% increase), indicating insider buying.
• Analyst coverage is mixed with an average rating of "Hold" and an average target of $162.50; Hawkins recently missed quarterly EPS and revenue estimates and pays a $0.76 annualized dividend (~0.5% yield).

First Trust Advisors LP lowered its stake in shares of Hawkins, Inc. (NASDAQ:HWKN - Free Report) by 20.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 192,632 shares of the specialty chemicals company's stock after selling 48,265 shares during the period. First Trust Advisors LP owned approximately 0.92% of Hawkins worth $35,198,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its holdings in shares of Hawkins by 137.5% in the third quarter. New York State Common Retirement Fund now owns 16,302 shares of the specialty chemicals company's stock valued at $2,979,000 after purchasing an additional 9,439 shares in the last quarter. Callan Family Office LLC bought a new stake in Hawkins during the third quarter worth $1,568,000. NewEdge Wealth LLC purchased a new stake in Hawkins in the 3rd quarter valued at $935,000. Principal Financial Group Inc. raised its position in Hawkins by 12.7% in the 3rd quarter. Principal Financial Group Inc. now owns 113,371 shares of the specialty chemicals company's stock valued at $20,715,000 after buying an additional 12,767 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Hawkins by 74.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 24,050 shares of the specialty chemicals company's stock valued at $4,394,000 after acquiring an additional 10,279 shares in the last quarter. 69.71% of the stock is owned by institutional investors.

Insider Transactions at Hawkins

In related news, Director James A. Faulconbridge acquired 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, February 4th. The stock was acquired at an average price of $129.29 per share, for a total transaction of $193,935.00. Following the completion of the acquisition, the director owned 50,907 shares of the company's stock, valued at approximately $6,581,766.03. This represents a 3.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

HWKN has been the topic of a number of analyst reports. Weiss Ratings downgraded shares of Hawkins from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, January 12th. Zacks Research upgraded shares of Hawkins from a "strong sell" rating to a "hold" rating in a report on Friday, January 2nd. Finally, BWS Financial reissued a "buy" rating and set a $200.00 price target on shares of Hawkins in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Hawkins currently has an average rating of "Hold" and an average target price of $162.50.

Hawkins Stock Performance

Shares of Hawkins stock opened at $139.71 on Friday. The business's fifty day simple moving average is $146.88 and its 200 day simple moving average is $151.66. The company has a current ratio of 2.35, a quick ratio of 1.46 and a debt-to-equity ratio of 0.49. Hawkins, Inc. has a 12 month low of $101.72 and a 12 month high of $186.15. The firm has a market capitalization of $2.92 billion, a P/E ratio of 35.37, a price-to-earnings-growth ratio of 3.13 and a beta of 0.82.

Hawkins (NASDAQ:HWKN - Get Free Report) last announced its quarterly earnings data on Wednesday, January 28th. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.03). Hawkins had a net margin of 7.75% and a return on equity of 16.85%. The business had revenue of $244.08 million during the quarter, compared to the consensus estimate of $252.51 million. As a group, analysts anticipate that Hawkins, Inc. will post 4 EPS for the current year.

Hawkins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a dividend of $0.19 per share. The ex-dividend date was Friday, February 13th. This represents a $0.76 annualized dividend and a yield of 0.5%. Hawkins's dividend payout ratio is presently 19.24%.

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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