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

A number of other hedge funds have also modified their holdings of the stock. Brooklyn Investment Group boosted its holdings in Hawkins by 533.3% during the first quarter. Brooklyn Investment Group now owns 266 shares of the specialty chemicals company's stock valued at $28,000 after acquiring an additional 224 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Hawkins by 118.8% during 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 in the last quarter. Vermillion Wealth Management Inc. bought a new stake in Hawkins in the 4th quarter valued at $34,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hawkins during the 1st quarter worth about $42,000. Finally, Russell Investments Group Ltd. acquired a new position in Hawkins in the 1st quarter valued at about $52,000. 69.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HWKN. Raymond James Financial initiated coverage on shares of Hawkins in a research note on Thursday, July 24th. They set a "market perform" rating for the company. BWS Financial upped their price target on shares of Hawkins from $160.00 to $200.00 and gave the company a "buy" rating in a report on Friday, August 1st. Wall Street Zen downgraded shares of Hawkins from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Zacks Research upgraded shares of 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 issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Hawkins presently has an average rating of "Buy" and a consensus target price of $162.50.

Hawkins Stock Down 2.1%

HWKN stock traded down $3.79 during mid-day trading on Friday, reaching $173.74. The company had a trading volume of 759,116 shares, compared to its average volume of 117,250. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 42.79, a price-to-earnings-growth ratio of 2.51 and a beta of 0.86. Hawkins, Inc. has a fifty-two week low of $98.30 and a fifty-two week high of $185.50. The firm has a fifty day simple moving average of $168.49 and a 200 day simple moving average of $139.38. 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 (NASDAQ:HWKN - Get Free Report) last released its earnings results on Wednesday, July 30th. The specialty chemicals company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.33 by $0.07. Hawkins had a return on equity of 18.35% and a net margin of 8.37%.The firm had revenue of $293.27 million during the quarter, compared to analyst estimates of $278.76 million. Analysts forecast that Hawkins, Inc. will post 4 earnings per share for the current fiscal year.

Hawkins Increases Dividend

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