Hawkins, Inc. $HWKN Shares Sold by PFG Investments LLC

Key Points

• PFG Investments LLC reduced its holdings in Hawkins, Inc. by 45.9% during the second quarter, now owning 8,011 shares valued at approximately $1.14 million.
• Hawkins, Inc. announced a quarterly dividend increase from $0.18 to $0.19, with an annual dividend yield of 0.4%.
• The company's latest quarterly earnings report showed earnings per share of $1.40, exceeding the consensus estimate of $1.33, with revenue of $293.27 million surpassing expectations.

PFG Investments LLC cut its holdings in shares of Hawkins, Inc. (NASDAQ:HWKN - Free Report) by 45.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,011 shares of the specialty chemicals company's stock after selling 6,800 shares during the quarter. PFG Investments LLC's holdings in Hawkins were worth $1,138,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Brooklyn Investment Group increased its stake in shares of Hawkins by 533.3% in the first quarter. Brooklyn Investment Group now owns 266 shares of the specialty chemicals company's stock worth $28,000 after acquiring an additional 224 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in Hawkins by 118.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 280 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 152 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Hawkins in the first quarter valued at $42,000. Russell Investments Group Ltd. acquired a new stake in Hawkins during the 1st quarter worth about $52,000. Finally, GAMMA Investing LLC raised its stake in shares of Hawkins by 20.4% during the 1st quarter. GAMMA Investing LLC now owns 531 shares of the specialty chemicals company's stock valued at $56,000 after buying an additional 90 shares during the last quarter. 69.71% of the stock is owned by hedge funds and other institutional investors.

Hawkins Stock Performance

HWKN opened at $181.93 on Friday. The firm's fifty day simple moving average is $171.38 and its two-hundred day simple moving average is $143.77. Hawkins, Inc. has a 52-week low of $98.30 and a 52-week high of $185.50. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 44.81, a PEG ratio of 2.52 and a beta of 0.84. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.59.

Hawkins (NASDAQ:HWKN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.07. The firm had revenue of $293.27 million during the quarter, compared to the consensus estimate of $278.76 million. Hawkins had a net margin of 8.37% and a return on equity of 18.35%. Equities analysts anticipate that Hawkins, Inc. will post 4 earnings per share for the current fiscal year.

Hawkins Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. This is a boost from Hawkins's previous quarterly dividend of $0.18. The ex-dividend date was Friday, August 15th. Hawkins's dividend payout ratio (DPR) is 18.72%.

Wall Street Analysts Forecast Growth

HWKN has been the topic of a number of recent research reports. BWS Financial upped their target price on Hawkins from $160.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Raymond James Financial started coverage on Hawkins in a report on Thursday, July 24th. They issued a "market perform" rating for the company. Zacks Research cut shares of Hawkins from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 22nd. Finally, Wall Street Zen lowered shares of Hawkins from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $162.50.

About Hawkins

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.

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