JPMorgan Chase & Co. Sells 20,725 Shares of Hawkins, Inc. $HWKN

JPMorgan Chase & Co. trimmed its holdings in shares of Hawkins, Inc. (NASDAQ:HWKN) by 17.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,291 shares of the specialty chemicals company’s stock after selling 20,725 shares during the period. JPMorgan Chase & Co. owned about 0.48% of Hawkins worth $18,508,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. New York State Common Retirement Fund boosted its position in Hawkins by 137.5% during the third quarter. New York State Common Retirement Fund now owns 16,302 shares of the specialty chemicals company’s stock valued at $2,979,000 after purchasing an additional 9,439 shares during the last quarter. Callan Family Office LLC acquired a new position in shares of Hawkins during the 3rd quarter worth approximately $1,568,000. NewEdge Wealth LLC bought a new stake in shares of Hawkins during the 3rd quarter worth approximately $935,000. Principal Financial Group Inc. raised its stake in shares of Hawkins by 12.7% during the 3rd quarter. Principal Financial Group Inc. now owns 113,371 shares of the specialty chemicals company’s stock worth $20,715,000 after purchasing an additional 12,767 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Hawkins by 74.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 24,050 shares of the specialty chemicals company’s stock valued at $4,394,000 after buying an additional 10,279 shares during the last quarter. Institutional investors and hedge funds own 69.71% of the company’s stock.

Hawkins Stock Performance

Shares of HWKN stock opened at $152.31 on Thursday. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 3.12 and a beta of 0.82. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.46 and a current ratio of 2.35. The company has a 50-day simple moving average of $145.02 and a 200 day simple moving average of $149.80. Hawkins, Inc. has a 52 week low of $101.72 and a 52 week high of $186.15.

Hawkins (NASDAQ:HWKN) last released its quarterly earnings results on Wednesday, January 28th. The specialty chemicals company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.03). The company had revenue of $244.08 million during the quarter, compared to the consensus estimate of $252.51 million. Hawkins had a net margin of 7.75% and a return on equity of 16.85%. On average, sell-side analysts predict that Hawkins, Inc. will post 4 earnings per share for the current year.

Hawkins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, February 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.5%. Hawkins’s dividend payout ratio (DPR) is 19.24%.

Analyst Ratings Changes

HWKN has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Hawkins from a “strong sell” rating to a “hold” rating in a report on Friday, January 2nd. BWS Financial reiterated a “buy” rating and issued a $200.00 price target on shares of Hawkins in a research note on Monday. Finally, Weiss Ratings downgraded shares of Hawkins from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Hawkins currently has a consensus rating of “Hold” and an average target price of $162.50.

Insider Buying and Selling at Hawkins

In other news, Director James A. Faulconbridge purchased 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was acquired at an average cost of $129.29 per share, with a total value of $193,935.00. Following the acquisition, the director owned 50,907 shares in the company, valued at approximately $6,581,766.03. This trade represents a 3.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.10% of the company’s stock.

Hawkins Company 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.