H.B. Fuller (NYSE:FUL) Issues FY24 Earnings Guidance

H.B. Fuller (NYSE:FUL) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $4.20-4.45 for the period, compared to the consensus estimate of $4.31. The company issued revenue guidance of ~$3.58-3.65 billion, compared to the consensus revenue estimate of $3.61 billion. H.B. Fuller also updated its FY 2024 guidance to 4.200-4.450 EPS.

H.B. Fuller Stock Performance

FUL opened at $76.96 on Friday. The business’s 50-day moving average price is $78.01 and its two-hundred day moving average price is $78.47. H.B. Fuller has a 1 year low of $63.72 and a 1 year high of $84.31. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 1.21 and a beta of 1.48. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.89 and a quick ratio of 1.23.

H.B. Fuller (NYSE:FUL) last released its quarterly earnings results on Wednesday, June 26th. The specialty chemicals company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.07. H.B. Fuller had a return on equity of 13.33% and a net margin of 4.67%. The firm had revenue of $917.10 million for the quarter, compared to the consensus estimate of $914.22 million. During the same quarter last year, the business posted $0.93 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts expect that H.B. Fuller will post 4.33 EPS for the current fiscal year.

H.B. Fuller Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Thursday, April 25th were given a $0.222 dividend. The ex-dividend date was Wednesday, April 24th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 1.15%. This is an increase from H.B. Fuller’s previous quarterly dividend of $0.21. H.B. Fuller’s payout ratio is currently 30.38%.

Analyst Ratings Changes

A number of analysts recently issued reports on FUL shares. Robert W. Baird lifted their target price on H.B. Fuller from $80.00 to $90.00 and gave the company a neutral rating in a research report on Monday, April 1st. Vertical Research started coverage on H.B. Fuller in a research report on Tuesday, March 19th. They set a buy rating and a $88.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, H.B. Fuller currently has an average rating of Hold and a consensus target price of $86.20.

Insider Transactions at H.B. Fuller

In other news, EVP Zhiwei Cai sold 4,645 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $75.15, for a total transaction of $349,071.75. Following the completion of the sale, the executive vice president now owns 30,663 shares in the company, valued at $2,304,324.45. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Nathan D. Weaver sold 7,292 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $78.64, for a total value of $573,442.88. Following the completion of the sale, the vice president now directly owns 4,803 shares in the company, valued at $377,707.92. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Zhiwei Cai sold 4,645 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $75.15, for a total value of $349,071.75. Following the completion of the sale, the executive vice president now owns 30,663 shares of the company’s stock, valued at $2,304,324.45. The disclosure for this sale can be found here. Insiders sold a total of 34,253 shares of company stock worth $2,669,188 over the last quarter. Company insiders own 1.96% of the company’s stock.

H.B. Fuller Company Profile

H.B. Fuller Company, together with its subsidiaries, formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, additives, and other specialty chemical products. It operates through three segments: Hygiene, Health and Consumable Adhesives; Engineering Adhesives; and Construction Adhesives.