Penn Capital Management Company LLC Sells 23,894 Shares of H. B. Fuller Company $FUL

Key Points

• Penn Capital Management cut its H. B. Fuller position by 16% in the fourth quarter, selling 23,894 shares and leaving it with 125,083 shares valued at about $7.46 million.
• H. B. Fuller reported quarterly EPS of $0.57, edging past estimates, though revenue came in below expectations at $770.84 million and fell 2.3% year over year.
• The company raised its quarterly dividend to $0.245 per share, while analysts currently have a consensus rating of Moderate Buy with an average price target of $63.

Penn Capital Management Company LLC lessened its stake in H. B. Fuller Company (NYSE:FUL - Free Report) by 16.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,083 shares of the specialty chemicals company's stock after selling 23,894 shares during the quarter. Penn Capital Management Company LLC owned about 0.23% of H. B. Fuller worth $7,458,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bleakley Financial Group LLC increased its holdings in H. B. Fuller by 1.5% in the fourth quarter. Bleakley Financial Group LLC now owns 11,687 shares of the specialty chemicals company's stock valued at $695,000 after purchasing an additional 168 shares during the last quarter. California State Teachers Retirement System increased its holdings in H. B. Fuller by 0.3% in the second quarter. California State Teachers Retirement System now owns 50,486 shares of the specialty chemicals company's stock valued at $3,037,000 after purchasing an additional 173 shares during the last quarter. Glenmede Investment Management LP increased its holdings in H. B. Fuller by 3.9% in the third quarter. Glenmede Investment Management LP now owns 4,809 shares of the specialty chemicals company's stock valued at $285,000 after purchasing an additional 179 shares during the last quarter. Allworth Financial LP increased its holdings in H. B. Fuller by 50.1% in the fourth quarter. Allworth Financial LP now owns 578 shares of the specialty chemicals company's stock valued at $34,000 after purchasing an additional 193 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in H. B. Fuller by 2.3% in the second quarter. Cerity Partners LLC now owns 11,499 shares of the specialty chemicals company's stock valued at $692,000 after purchasing an additional 261 shares during the last quarter. Institutional investors own 95.93% of the company's stock.

H. B. Fuller Stock Up 5.1%

Shares of H. B. Fuller stock opened at $60.74 on Wednesday. H. B. Fuller Company has a 1 year low of $48.71 and a 1 year high of $68.63. The business has a 50-day moving average of $59.48 and a two-hundred day moving average of $60.47. The company has a market capitalization of $3.31 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 0.76 and a beta of 0.95. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.92 and a quick ratio of 1.15.

H. B. Fuller (NYSE:FUL - Get Free Report) last announced its quarterly earnings results on Thursday, March 26th. The specialty chemicals company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01. H. B. Fuller had a return on equity of 11.84% and a net margin of 4.62%.The company had revenue of $770.84 million during the quarter, compared to the consensus estimate of $787.77 million. During the same period in the prior year, the company earned $0.54 earnings per share. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities analysts predict that H. B. Fuller Company will post 4.77 EPS for the current year.

H. B. Fuller Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a dividend of $0.245 per share. This is an increase from H. B. Fuller's previous quarterly dividend of $0.24. This represents a $0.98 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, April 30th. H. B. Fuller's payout ratio is currently 32.34%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FUL. Vertical Research upgraded H. B. Fuller from a "hold" rating to a "strong-buy" rating in a report on Friday, March 27th. Citigroup upped their price objective on H. B. Fuller from $67.00 to $70.00 and gave the company a "buy" rating in a report on Monday, March 30th. Wall Street Zen upgraded H. B. Fuller from a "hold" rating to a "buy" rating in a report on Sunday, March 29th. UBS Group set a $58.00 price target on H. B. Fuller in a report on Wednesday. Finally, Royal Bank Of Canada set a $58.00 price target on H. B. Fuller in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $63.00.

Insider Buying and Selling at H. B. Fuller

In other news, CEO Celeste Beeks Mastin acquired 5,170 shares of H. B. Fuller stock in a transaction dated Tuesday, April 7th. The stock was bought at an average cost of $57.08 per share, with a total value of $295,103.60. Following the completion of the transaction, the chief executive officer directly owned 8,670 shares of the company's stock, valued at approximately $494,883.60. This represents a 147.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.83% of the stock is owned by corporate insiders.

H. B. Fuller Company Profile

H. B. Fuller Company, founded in 1887 and headquartered in St. Paul, Minnesota, is a global adhesives and specialty chemical solutions provider serving a wide array of industries. The company develops, manufactures and markets adhesive technologies, sealants, polymers and related chemical products designed to enhance product performance, sustainability and manufacturing efficiency.

Fuller's product portfolio spans multiple market segments, including packaging and converting, general industrial assembly, electronics, transportation, hygiene and construction.

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