H.B. Fuller (NYSE:FUL) Shares Gap Down on Disappointing Earnings

H.B. Fuller (NYSE:FUL)’s share price gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $64.14, but opened at $62.69. H.B. Fuller shares last traded at $62.04, with a volume of 62,875 shares traded.

The specialty chemicals company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.08). The company had revenue of $923.00 million for the quarter, compared to analyst estimates of $916.84 million. H.B. Fuller had a return on equity of 13.39% and a net margin of 5.15%. H.B. Fuller’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.32 earnings per share.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Vertical Research lowered shares of H.B. Fuller from a “buy” rating to a “hold” rating in a research note on Monday, January 6th. Citigroup dropped their target price on H.B. Fuller from $78.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $90.25.

Hedge Funds Weigh In On H.B. Fuller

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP boosted its holdings in H.B. Fuller by 9.9% during the second quarter. Marshall Wace LLP now owns 290,005 shares of the specialty chemicals company’s stock worth $22,319,000 after buying an additional 26,239 shares in the last quarter. S&CO Inc. lifted its position in shares of H.B. Fuller by 0.3% during the 3rd quarter. S&CO Inc. now owns 267,192 shares of the specialty chemicals company’s stock valued at $21,209,000 after acquiring an additional 920 shares during the period. Geode Capital Management LLC boosted its stake in shares of H.B. Fuller by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,258,752 shares of the specialty chemicals company’s stock worth $99,939,000 after acquiring an additional 18,734 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in shares of H.B. Fuller by 79.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 730,058 shares of the specialty chemicals company’s stock worth $57,952,000 after acquiring an additional 324,056 shares during the period. 95.93% of the stock is owned by institutional investors and hedge funds.

H.B. Fuller Stock Down 2.9 %

The firm has a 50 day moving average of $71.46 and a two-hundred day moving average of $76.99. The stock has a market capitalization of $3.40 billion, a PE ratio of 19.22, a P/E/G ratio of 1.50 and a beta of 1.43. The company has a current ratio of 1.89, a quick ratio of 1.16 and a debt-to-equity ratio of 1.10.

About H.B. Fuller

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.