SummitTX Capital L.P. Takes $2.84 Million Position in H. B. Fuller Company $FUL

Key Points

• SummitTX Capital initiated a $2.84 million position in H. B. Fuller, buying 46,089 shares; institutional investors collectively own 95.93% of the company.
• H. B. Fuller exceeded quarterly expectations, reporting $1.41 in EPS versus $1.37 expected and $950.27 million in revenue, up 5.8% year over year.
• The company declared a quarterly dividend of $0.245 per share, while analysts maintain a “Moderate Buy” consensus with an average price target of $67.86 versus the stock’s $57.05 opening price.

SummitTX Capital L.P. bought a new position in H. B. Fuller Company (NYSE:FUL - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 46,089 shares of the specialty chemicals company's stock, valued at approximately $2,843,000. SummitTX Capital L.P. owned approximately 0.08% of H. B. Fuller at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Strs Ohio purchased a new position in shares of H. B. Fuller in the first quarter valued at $101,000. EverSource Wealth Advisors LLC raised its position in shares of H. B. Fuller by 129.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,218 shares of the specialty chemicals company's stock valued at $73,000 after buying an additional 688 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in shares of H. B. Fuller by 19.6% in the 2nd quarter. Baird Financial Group Inc. now owns 7,518 shares of the specialty chemicals company's stock valued at $452,000 after acquiring an additional 1,232 shares during the last quarter. Marshall Wace LLP grew its position in H. B. Fuller by 382.1% in the second quarter. Marshall Wace LLP now owns 20,370 shares of the specialty chemicals company's stock worth $1,225,000 after acquiring an additional 16,145 shares in the last quarter. Finally, Cerity Partners LLC grew its position 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 worth $692,000 after acquiring an additional 261 shares in the last quarter. Institutional investors own 95.93% of the company's stock.

H. B. Fuller Trading Up 0.9%

FUL opened at $57.05 on Wednesday. The stock's fifty day moving average is $59.74 and its two-hundred day moving average is $60.79. The company has a market capitalization of $3.07 billion, a P/E ratio of 17.50, a PEG ratio of 0.61 and a beta of 0.98. H. B. Fuller Company has a 52 week low of $48.71 and a 52 week high of $68.63. The company has a quick ratio of 1.12, a current ratio of 1.80 and a debt-to-equity ratio of 1.00.

H. B. Fuller (NYSE:FUL - Get Free Report) last issued its earnings results on Thursday, June 25th. The specialty chemicals company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.04. H. B. Fuller had a return on equity of 12.18% and a net margin of 5.29%.The business had revenue of $950.27 million during the quarter, compared to analyst estimates of $924.83 million. During the same period in the previous year, the company posted $1.18 EPS. H. B. Fuller's revenue was up 5.8% on a year-over-year basis. Analysts forecast that H. B. Fuller Company will post 4.87 earnings per share for the current year.

H. B. Fuller Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Thursday, July 30th will be issued a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Thursday, July 30th. H. B. Fuller's payout ratio is presently 30.06%.

Wall Street Analyst Weigh In

FUL has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective on H. B. Fuller from $70.00 to $72.00 and gave the company a "buy" rating in a research report on Tuesday, June 30th. Wall Street Zen downgraded H. B. Fuller from a "strong-buy" rating to a "buy" rating in a research report on Saturday. The Goldman Sachs Group set a $67.00 price target on H. B. Fuller in a report on Friday, June 26th. Raymond James Financial set a $67.00 price target on H. B. Fuller in a research report on Friday, June 26th. Finally, UBS Group set a $69.00 price objective on shares of H. B. Fuller in a research report 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 given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $67.86.

About H. B. Fuller

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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