H. B. Fuller Company $FUL Shares Bought by Bank of America Corp DE

Key Points

• Bank of America increased its H. B. Fuller stake by 36.3% in the first quarter, owning 513,163 shares worth approximately $31.7 million. Institutional investors collectively own 95.93% of the specialty chemicals company.
• H. B. Fuller exceeded quarterly expectations, reporting $1.41 in earnings per share and $950.27 million in revenue, with revenue up 5.8% year over year.
• Analyst sentiment is favorable, with a consensus “Moderate Buy” rating and a $67.86 price target versus the stock’s reported $62.70 price. The company also pays a quarterly dividend of $0.245, representing a 1.6% annualized yield.

Bank of America Corp DE raised its stake in shares of H. B. Fuller Company (NYSE:FUL - Free Report) by 36.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 513,163 shares of the specialty chemicals company's stock after purchasing an additional 136,666 shares during the quarter. Bank of America Corp DE owned about 0.94% of H. B. Fuller worth $31,652,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of H. B. Fuller in the fourth quarter valued at about $44,203,000. Royal Bank of Canada increased its holdings in H. B. Fuller by 2,694.7% in the 1st quarter. Royal Bank of Canada now owns 675,765 shares of the specialty chemicals company's stock worth $41,681,000 after buying an additional 651,585 shares during the period. UBS Group AG raised its position in H. B. Fuller by 200.8% during the 3rd quarter. UBS Group AG now owns 820,871 shares of the specialty chemicals company's stock worth $48,661,000 after buying an additional 548,017 shares during the last quarter. Verition Fund Management LLC raised its position in H. B. Fuller by 1,379.5% during the 4th quarter. Verition Fund Management LLC now owns 383,955 shares of the specialty chemicals company's stock worth $22,830,000 after buying an additional 358,003 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in H. B. Fuller by 52.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 820,255 shares of the specialty chemicals company's stock valued at $48,772,000 after acquiring an additional 281,707 shares during the period. Hedge funds and other institutional investors own 95.93% of the company's stock.

H. B. Fuller Price Performance

NYSE:FUL opened at $62.70 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.80 and a debt-to-equity ratio of 1.00. H. B. Fuller Company has a 52 week low of $48.71 and a 52 week high of $68.63. The stock's 50-day moving average price is $59.36 and its 200-day moving average price is $60.50. The stock has a market capitalization of $3.37 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 0.68 and a beta of 0.98.

H. B. Fuller (NYSE:FUL - Get Free Report) last released its quarterly earnings results on Thursday, June 25th. The specialty chemicals company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.04. The company had revenue of $950.27 million during the quarter, compared to analysts' expectations of $924.83 million. H. B. Fuller had a return on equity of 12.18% and a net margin of 5.29%.H. B. Fuller's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 EPS. As a group, equities analysts expect that H. B. Fuller Company will post 4.87 EPS for the current fiscal year.

H. B. Fuller Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were given a $0.245 dividend. The ex-dividend date was Thursday, July 30th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.6%. H. B. Fuller's payout ratio is 30.06%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of H. B. Fuller from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $58.00 to $67.00 in a report on Friday, June 26th. Weiss Ratings restated a "hold (c)" rating on shares of H. B. Fuller in a research report on Tuesday, June 30th. The Goldman Sachs Group set a $67.00 price target on shares of H. B. Fuller in a report on Friday, June 26th. Citigroup increased their price target on H. B. Fuller from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. Finally, Royal Bank Of Canada set a $58.00 price objective on H. B. Fuller in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.86.

Insider Buying and Selling at H. B. Fuller

In other news, VP Nathan D. Weaver sold 9,561 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $62.06, for a total transaction of $593,355.66. Following the completion of the transaction, the vice president directly owned 11,739 shares of the company's stock, valued at $728,522.34. This represents a 44.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.83% of the stock is currently owned by insiders.

H. B. Fuller Company Profile

H. B. Fuller Company, founded in 1887 and headquartered in St. Paul, Minnesota, is a global adhesives and specialty chemical solutions provider serving a wide array of industries. The company develops, manufactures and markets adhesive technologies, sealants, polymers and related chemical products designed to enhance product performance, sustainability and manufacturing efficiency.

Fuller's product portfolio spans multiple market segments, including packaging and converting, general industrial assembly, electronics, transportation, hygiene and construction.

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