Hawkins (NASDAQ:HWKN) Hits New 12-Month High After Strong Earnings

Key Points

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Hawkins, Inc. (NASDAQ:HWKN - Get Free Report) shares reached a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $166.88 and last traded at $167.80, with a volume of 24979 shares trading hands. The stock had previously closed at $159.16.

The specialty chemicals company reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.07. Hawkins had a net margin of 8.37% and a return on equity of 18.35%. The business had revenue of $293.27 million during the quarter, compared to analysts' expectations of $278.76 million.

Hawkins Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.19 dividend. The ex-dividend date is Friday, August 15th. This is an increase from Hawkins's previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 0.5%. Hawkins's dividend payout ratio is currently 17.73%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HWKN. Raymond James Financial assumed coverage on shares of Hawkins in a research report on Thursday, July 24th. They issued a "market perform" rating for the company. Wall Street Zen downgraded shares of Hawkins from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, BWS Financial upped their price objective on shares of Hawkins from $160.00 to $200.00 and gave the stock a "buy" rating in a report on Friday.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Brooklyn Investment Group raised its holdings in Hawkins by 533.3% during the first quarter. Brooklyn Investment Group now owns 266 shares of the specialty chemicals company's stock worth $28,000 after buying an additional 224 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Hawkins by 118.8% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 280 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 152 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new position in Hawkins during the fourth quarter worth about $34,000. Caitong International Asset Management Co. Ltd bought a new stake in Hawkins in the 1st quarter worth about $42,000. Finally, Russell Investments Group Ltd. bought a new stake in Hawkins in the 1st quarter worth about $52,000. Institutional investors and hedge funds own 69.71% of the company's stock.

Hawkins Stock Performance

The company's 50 day simple moving average is $146.20 and its 200 day simple moving average is $124.57. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.37 and a current ratio of 2.31. The stock has a market cap of $3.31 billion, a PE ratio of 39.12, a price-to-earnings-growth ratio of 2.78 and a beta of 0.81.

Hawkins Company Profile

Hawkins, Inc operates as a specialty chemical and ingredients company in the United States. It operates through three segments: Industrial, Water Treatment, and Health and Nutrition. The Industrial segment offers industrial chemicals, products, and services to agriculture, chemical processing, electronics, energy, food, pharmaceutical, and plating industries.