Norges Bank Acquires New Position in H. B. Fuller Company $FUL

Norges Bank acquired a new stake in shares of H. B. Fuller Company (NYSE:FUL) during the fourth quarter, HoldingsChannel reports. The fund acquired 743,407 shares of the specialty chemicals company’s stock, valued at approximately $44,203,000.

Other large investors also recently modified their holdings of the company. Allworth Financial LP raised its holdings in shares of H. B. Fuller by 50.1% during the 4th quarter. Allworth Financial LP now owns 578 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 193 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of H. B. Fuller by 432.9% during the fourth quarter. Hantz Financial Services Inc. now owns 778 shares of the specialty chemicals company’s stock valued at $46,000 after buying an additional 632 shares during the period. Torren Management LLC purchased a new position in shares of H. B. Fuller during the fourth quarter valued at approximately $52,000. Brown Brothers Harriman & Co. purchased a new position in shares of H. B. Fuller during the third quarter valued at about $56,000. Finally, Advisory Services Network LLC purchased a new position in shares of H. B. Fuller during the third quarter valued at about $58,000. 95.93% of the stock is owned by hedge funds and other institutional investors.

H. B. Fuller Trading Up 0.3%

Shares of H. B. Fuller stock opened at $60.04 on Tuesday. The company’s fifty day simple moving average is $61.00 and its 200-day simple moving average is $60.75. The stock has a market capitalization of $3.27 billion, a PE ratio of 19.81, a P/E/G ratio of 0.79 and a beta of 0.96. H. B. Fuller Company has a 1-year low of $48.71 and a 1-year high of $68.63. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.92 and a quick ratio of 1.15.

H. B. Fuller (NYSE:FUL) last issued its quarterly earnings results on Thursday, March 26th. The specialty chemicals company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. H. B. Fuller had a net margin of 4.62% and a return on equity of 11.84%. The business had revenue of $770.84 million for the quarter, compared to analysts’ expectations of $787.77 million. During the same quarter last year, the company posted $0.54 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that H. B. Fuller Company will post 4.77 earnings per share for the current year.

H. B. Fuller Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, April 30th. This is an increase from H. B. Fuller’s previous quarterly dividend of $0.24. H. B. Fuller’s payout ratio is presently 32.34%.

Insider Buying and Selling at H. B. Fuller

In related news, CEO Celeste Beeks Mastin acquired 5,170 shares of the stock in a transaction dated Tuesday, April 7th. The shares were purchased at an average cost of $57.08 per share, with a total value of $295,103.60. Following the transaction, the chief executive officer directly owned 8,670 shares in the company, valued at approximately $494,883.60. This represents a 147.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.83% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Vertical Research upgraded shares of H. B. Fuller from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 27th. Citigroup boosted their price target on shares of H. B. Fuller from $67.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, March 30th. Royal Bank Of Canada set a $58.00 price target on shares of H. B. Fuller in a research report on Wednesday, May 27th. JPMorgan Chase & Co. raised H. B. Fuller from an “underweight” rating to a “neutral” rating and set a $58.00 price target on the stock in a research note on Wednesday, May 27th. Finally, UBS Group set a $58.00 price target on H. B. Fuller in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, H. B. Fuller has a consensus rating of “Moderate Buy” and a consensus target price of $63.80.

H. B. Fuller Company Profile

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.