Wasatch Advisors LP Decreases Stock Position in Hawkins, Inc. $HWKN

Key Points

• Wasatch Advisors LP reduced its Hawkins stake by 17.1% in the second quarter, selling 80,157 shares and retaining 389,515 shares worth approximately $55.35 million. Institutional investors collectively own 69.71% of the company.
• Analyst sentiment is mixed, with ratings ranging from strong sell to buy; Hawkins has an average “Hold” rating and a consensus price target of $171, compared with its reported trading price of $129.66.
• Hawkins reported quarterly EPS of $1.35, slightly below the $1.39 estimate, while revenue of $315.68 million exceeded expectations. The company also declared a quarterly dividend of $0.19 per share, equivalent to a 0.6% yield.

Wasatch Advisors LP trimmed its position in shares of Hawkins, Inc. (NASDAQ:HWKN - Free Report) by 17.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 389,515 shares of the specialty chemicals company's stock after selling 80,157 shares during the quarter. Wasatch Advisors LP owned 1.86% of Hawkins worth $55,350,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of HWKN. Kestra Advisory Services LLC purchased a new position in shares of Hawkins during the 4th quarter worth about $29,000. MBM Wealth Consultants LLC purchased a new stake in Hawkins in the 1st quarter worth about $33,000. Sound Income Strategies LLC purchased a new stake in Hawkins in the 4th quarter worth about $34,000. Simplex Trading LLC lifted its stake in Hawkins by 246.0% in the fourth quarter. Simplex Trading LLC now owns 346 shares of the specialty chemicals company's stock worth $49,000 after purchasing an additional 246 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in Hawkins in the third quarter worth about $79,000. Institutional investors own 69.71% of the company's stock.

Analysts Set New Price Targets

HWKN has been the topic of a number of analyst reports. Weiss Ratings cut Hawkins from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 14th. Barclays set a $142.00 price target on Hawkins and gave the stock an "equal weight" rating in a research note on Friday, July 31st. Zacks Research cut Hawkins from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 4th. Finally, BWS Financial reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Hawkins in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $171.00.

Hawkins Trading Down 0.8%

Shares of HWKN opened at $129.66 on Wednesday. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 2.69 and a beta of 0.79. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.27 and a quick ratio of 1.54. Hawkins, Inc. has a 1-year low of $117.98 and a 1-year high of $186.15. The company has a 50-day moving average of $144.99 and a 200 day moving average of $148.84.

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

Hawkins Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Hawkins's payout ratio is presently 19.69%.

Hawkins Profile

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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