Hawkins, Inc. $HWKN Stock Position Raised by Bank of America Corp DE

Key Points

• Bank of America increased its Hawkins stake by 60.2% in the first quarter, owning 98,567 shares valued at approximately $15.1 million. Institutional investors collectively hold 69.71% of the company.
• Analyst sentiment is mixed, with Hawkins receiving an overall “Hold” rating and an average price target of $171; targets range from $142 to $200, while ratings include Buy, Hold and Strong Sell.
• Hawkins shares opened at $119.39, near their 52-week low, after the company reported quarterly EPS of $1.35—below estimates—despite revenue of $315.68 million exceeding expectations. The company declared a quarterly dividend of $0.19 per share, implying a 0.6% yield.

Bank of America Corp DE grew its position in shares of Hawkins, Inc. (NASDAQ:HWKN - Free Report) by 60.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,567 shares of the specialty chemicals company's stock after buying an additional 37,035 shares during the quarter. Bank of America Corp DE owned approximately 0.47% of Hawkins worth $15,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in HWKN. Amundi lifted its stake in shares of Hawkins by 28.2% in the 1st quarter. Amundi now owns 6,808 shares of the specialty chemicals company's stock valued at $1,046,000 after purchasing an additional 1,498 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Hawkins by 22.5% in the first quarter. California State Teachers Retirement System now owns 22,434 shares of the specialty chemicals company's stock worth $3,446,000 after purchasing an additional 4,122 shares in the last quarter. Royal Bank of Canada increased its position in Hawkins by 3.7% during the first quarter. Royal Bank of Canada now owns 119,368 shares of the specialty chemicals company's stock worth $18,335,000 after buying an additional 4,274 shares during the last quarter. Empowered Funds LLC increased its position in Hawkins by 10.5% during the first quarter. Empowered Funds LLC now owns 2,289 shares of the specialty chemicals company's stock worth $352,000 after buying an additional 217 shares during the last quarter. Finally, London Co. of Virginia bought a new position in Hawkins during the first quarter valued at about $26,791,000. Institutional investors own 69.71% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on HWKN. Barclays set a $142.00 price target on Hawkins and gave the stock an "equal weight" rating in a research note on Friday, July 31st. BWS Financial reissued a "buy" rating and issued a $200.00 price objective on shares of Hawkins in a research note on Monday, August 3rd. Zacks Research lowered Hawkins from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 4th. Finally, Weiss Ratings cut Hawkins from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Hawkins presently has an average rating of "Hold" and an average price target of $171.00.

Hawkins Stock Down 3.7%

HWKN stock opened at $119.39 on Friday. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 2.55 and a beta of 0.79. The company has a 50-day moving average of $141.06 and a two-hundred day moving average of $147.76. Hawkins, Inc. has a 52-week low of $117.98 and a 52-week high of $186.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.27 and a quick ratio of 1.54.

Hawkins (NASDAQ:HWKN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The specialty chemicals company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.39 by ($0.04). The business had revenue of $315.68 million during the quarter, compared to the consensus estimate of $313.42 million. Hawkins had a return on equity of 15.42% and a net margin of 7.29%. As a group, equities research analysts anticipate that Hawkins, Inc. will post 4.04 EPS for the current year.

Hawkins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, August 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.6%. Hawkins's payout ratio is 20.73%.

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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