Hamilton Beach Brands (NYSE:HBB) Reaches New 12-Month High - Here's Why

Key Points

• Hamilton Beach Brands reached a new 52-week high, trading as high as $39.14 and closing around $38.73, up 3.0% on the day.
• The company reported quarterly EPS of $2.49, far exceeding the $0.16 consensus estimate, while revenue matched expectations at $142.63 million. Analysts have upgraded the stock, giving it an average “Buy” rating.
• Hamilton Beach Brands declared a quarterly dividend of $0.125 per share, equivalent to an annualized $0.50 payout and a 1.3% yield.

Hamilton Beach Brands Holding Company (NYSE:HBB - Get Free Report)'s stock price reached a new 52-week high on Wednesday. The company traded as high as $39.14 and last traded at $38.7310, with a volume of 64722 shares traded. The stock had previously closed at $37.60.

Analysts Set New Price Targets

HBB has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Hamilton Beach Brands from a "hold (c)" rating to a "buy (b-)" rating in a report on Wednesday, August 19th. Wall Street Zen upgraded Hamilton Beach Brands from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Hamilton Beach Brands has an average rating of "Buy".

Hamilton Beach Brands Trading Up 3.0%

The company has a quick ratio of 2.04, a current ratio of 3.13 and a debt-to-equity ratio of 0.23. The firm's 50 day simple moving average is $30.42 and its 200-day simple moving average is $23.60. The company has a market capitalization of $520.62 million, a PE ratio of 9.11 and a beta of 0.29.

Hamilton Beach Brands (NYSE:HBB - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $2.33. The company had revenue of $142.63 million during the quarter, compared to analyst estimates of $142.63 million. Hamilton Beach Brands had a net margin of 9.41% and a return on equity of 30.70%.

Hamilton Beach Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.1250 dividend. This represents a $0.50 annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, September 1st. Hamilton Beach Brands's dividend payout ratio is currently 11.76%.

Insider Buying and Selling

In other Hamilton Beach Brands news, CFO Sarah M. Cunningham sold 3,000 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $32.50, for a total value of $97,500.00. Following the transaction, the chief financial officer directly owned 39,430 shares of the company's stock, valued at $1,281,475. This trade represents a 7.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 38.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hamilton Beach Brands

Hedge funds have recently modified their holdings of the stock. North Star Investment Management Corp. lifted its position in Hamilton Beach Brands by 16.5% during the 1st quarter. North Star Investment Management Corp. now owns 190,600 shares of the company's stock worth $3,612,000 after acquiring an additional 26,949 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Hamilton Beach Brands in the second quarter valued at approximately $2,130,000. Empowered Funds LLC grew its position in Hamilton Beach Brands by 9.5% in the first quarter. Empowered Funds LLC now owns 67,692 shares of the company's stock valued at $1,283,000 after acquiring an additional 5,858 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Hamilton Beach Brands by 8.0% during the first quarter. PNC Financial Services Group Inc. now owns 66,500 shares of the company's stock valued at $1,260,000 after purchasing an additional 4,898 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of Hamilton Beach Brands during the second quarter valued at approximately $431,000. 50.55% of the stock is currently owned by hedge funds and other institutional investors.

About Hamilton Beach Brands

Hamilton Beach Brands Holding Company NYSE: HBB designs, markets and distributes a broad range of small electric household appliances and commercial foodservice equipment. Its consumer products include blenders, coffee makers, slow cookers, air fryers, toasters, toaster ovens, electric kettles, food processors, hand and stand mixers, and related kitchen appliances.

The company sells products under brands including Hamilton Beach, Proctor Silex and Weston, as well as through its Hamilton Beach Commercial business.

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.