Royal Bank of Canada Purchases 651,585 Shares of H. B. Fuller Company $FUL

Key Points

• Royal Bank of Canada increased its H. B. Fuller stake by 2,694.7% during the first quarter, purchasing 651,585 additional shares and ending with a position worth approximately $41.7 million, or 1.24% of the company.
• H. B. Fuller reported quarterly EPS of $1.41, exceeding estimates of $1.37, while revenue rose 5.8% year over year to $950.27 million. Analysts expect full-year EPS of $4.87.
• The company declared a quarterly dividend of $0.245 per share, equivalent to an annualized $0.98 payout and a 1.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $67.86.

Royal Bank of Canada raised its position in shares of H. B. Fuller Company (NYSE:FUL - Free Report) by 2,694.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 675,765 shares of the specialty chemicals company's stock after buying an additional 651,585 shares during the period. Royal Bank of Canada owned about 1.24% of H. B. Fuller worth $41,681,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Allworth Financial LP grew its position in shares of H. B. Fuller by 50.1% in the 4th quarter. Allworth Financial LP now owns 578 shares of the specialty chemicals company's stock worth $34,000 after buying an additional 193 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in H. B. Fuller by 432.9% in the fourth quarter. Hantz Financial Services Inc. now owns 778 shares of the specialty chemicals company's stock worth $46,000 after acquiring an additional 632 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in H. B. Fuller in the fourth quarter valued at $46,000. Torren Management LLC purchased a new position in H. B. Fuller during the 4th quarter valued at $52,000. Finally, Brown Brothers Harriman & Co. bought a new position in H. B. Fuller in the 3rd quarter worth $56,000. Hedge funds and other institutional investors own 95.93% of the company's stock.

H. B. Fuller Price Performance

Shares of NYSE:FUL opened at $55.30 on Monday. The business has a fifty day moving average price of $59.61 and a 200-day moving average price of $60.59. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.80 and a quick ratio of 1.12. The company has a market capitalization of $2.97 billion, a PE ratio of 16.96, a PEG ratio of 0.60 and a beta of 0.98. H. B. Fuller Company has a 1-year low of $48.71 and a 1-year high of $68.63.

H. B. Fuller (NYSE:FUL - Get Free Report) last announced its quarterly earnings data on Thursday, June 25th. The specialty chemicals company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.37 by $0.04. The company had revenue of $950.27 million for the quarter, compared to the consensus estimate of $924.83 million. H. B. Fuller had a net margin of 5.29% and a return on equity of 12.18%. H. B. Fuller's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.18 EPS. As a group, equities analysts expect that H. B. Fuller Company will post 4.87 EPS for the current fiscal year.

H. B. Fuller Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th will be issued a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, July 30th. H. B. Fuller's dividend payout ratio (DPR) is presently 30.06%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FUL. Deutsche Bank Aktiengesellschaft lifted their target price on shares of H. B. Fuller from $70.00 to $72.00 and gave the company a "buy" rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. upgraded shares of H. B. Fuller from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $58.00 to $67.00 in a report on Friday, June 26th. Wall Street Zen downgraded H. B. Fuller from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. Weiss Ratings reissued a "hold (c)" rating on shares of H. B. Fuller in a research report on Tuesday, June 30th. Finally, Raymond James Financial set a $67.00 target price on H. B. Fuller in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $67.86.

H. B. Fuller 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.

Want to see what other hedge funds are holding FUL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for H. B. Fuller Company (NYSE:FUL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source