Longboard Asset Management LP Purchases Shares of 1,726 Hawkins, Inc. $HWKN

Key Points

• Longboard Asset Management LP has acquired a new stake in Hawkins, Inc., buying 1,726 shares valued at approximately $245,000 as reported in their recent SEC filing.
• Hawkins, Inc. recently saw several institutional investors increase their stakes, with Brooklyn Investment Group boosting its holdings by 533.3%.
• The company declared a quarterly dividend increase to $0.19 per share, up from the previous $0.18, with a current annualized dividend yield of 0.4%.

Longboard Asset Management LP acquired a new position in Hawkins, Inc. (NASDAQ:HWKN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,726 shares of the specialty chemicals company's stock, valued at approximately $245,000.

Several other institutional investors and hedge funds have also recently modified their holdings of HWKN. Brooklyn Investment Group raised 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 purchasing an additional 224 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of 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 worth $30,000 after purchasing an additional 152 shares during the last quarter. Vermillion Wealth Management Inc. purchased a new position in shares of Hawkins in the 4th quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Hawkins in the 1st quarter worth approximately $42,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Hawkins in the 1st quarter worth approximately $52,000. 69.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen downgraded Hawkins from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Raymond James Financial assumed coverage on Hawkins in a research note on Thursday, July 24th. They issued a "market perform" rating on the stock. BWS Financial boosted 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. Finally, Zacks Research upgraded Hawkins to a "strong-buy" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Hawkins currently has a consensus rating of "Buy" and a consensus target price of $162.50.

Hawkins Stock Performance

HWKN stock traded down $1.57 during midday trading on Monday, reaching $172.17. 112,238 shares of the company's stock traded hands, compared to its average volume of 146,868. The company has a 50-day moving average price of $168.77 and a two-hundred day moving average price of $140.37. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.31. Hawkins, Inc. has a 52 week low of $98.30 and a 52 week high of $185.50. The firm has a market capitalization of $3.59 billion, a PE ratio of 42.41, a price-to-earnings-growth ratio of 2.46 and a beta of 0.86.

Hawkins (NASDAQ:HWKN - Get Free Report) last issued its earnings results on Wednesday, July 30th. The specialty chemicals company reported $1.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.07. Hawkins had a net margin of 8.37% and a return on equity of 18.35%. The business had revenue of $293.27 million for the quarter, compared to analysts' expectations of $278.76 million. As a group, equities analysts anticipate that Hawkins, Inc. will post 4 EPS for the current year.

Hawkins Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a 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 presently 18.72%.

Hawkins Profile

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.