NewEdge Wealth LLC Invests $1.39 Million in Hawkins, Inc. $HWKN

Key Points

• NewEdge Wealth acquired 9,772 Hawkins shares worth approximately $1.39 million in the second quarter, while institutional investors collectively own 69.71% of the company.
• Hawkins reported quarterly EPS of $1.35, missing estimates of $1.39, although revenue of $315.68 million exceeded expectations of $313.42 million.
• Shares opened at $118.99, near their 12-month low of $117.98. Analysts’ consensus rating is “Hold,” with an average price target of $171, while the company declared a quarterly dividend of $0.19 per share.

NewEdge Wealth LLC acquired a new position in shares of Hawkins, Inc. (NASDAQ:HWKN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,772 shares of the specialty chemicals company's stock, valued at approximately $1,389,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HWKN. Diversify Advisory Services LLC purchased a new position in Hawkins in the second quarter worth $1,813,000. BlackRock Inc. purchased a new stake in shares of Hawkins during the 2nd quarter valued at $449,055,000. Deutsche Bank AG purchased a new stake in shares of Hawkins during the 2nd quarter valued at $3,027,000. Rice Hall James & Associates LLC acquired a new stake in shares of Hawkins in the 2nd quarter worth $3,075,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in shares of Hawkins in the 2nd quarter worth $575,000. Hedge funds and other institutional investors own 69.71% of the company's stock.

Hawkins Stock Down 0.3%

Shares of HWKN stock opened at $118.99 on Friday. The stock has a 50 day moving average of $140.27 and a 200 day moving average of $147.56. The company has a current ratio of 2.27, a quick ratio of 1.54 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2.48 billion, a P/E ratio of 30.83, a P/E/G ratio of 2.46 and a beta of 0.79. Hawkins, Inc. has a twelve month low of $117.98 and a twelve month high of $186.15.

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

Hawkins Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, August 14th. Hawkins's dividend payout ratio (DPR) is currently 20.73%.

Analysts Set New Price Targets

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

About Hawkins

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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