Corebridge Financial Inc. Decreases Stake in H.B. Fuller (NYSE:FUL)

Corebridge Financial Inc. lessened its holdings in H.B. Fuller (NYSE:FUL) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,152 shares of the specialty chemicals company’s stock after selling 2,272 shares during the period. Corebridge Financial Inc. owned approximately 0.05% of H.B. Fuller worth $1,967,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its position in H.B. Fuller by 128.8% in the fourth quarter. Jones Financial Companies Lllp now owns 899 shares of the specialty chemicals company’s stock worth $61,000 after purchasing an additional 506 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of H.B. Fuller in the 4th quarter worth about $266,000. KLP Kapitalforvaltning AS bought a new position in H.B. Fuller during the fourth quarter valued at about $783,000. Wesbanco Bank Inc. increased its holdings in H.B. Fuller by 41.2% during the fourth quarter. Wesbanco Bank Inc. now owns 13,700 shares of the specialty chemicals company’s stock worth $924,000 after buying an additional 4,000 shares during the last quarter. Finally, Amundi raised its position in H.B. Fuller by 191.9% in the fourth quarter. Amundi now owns 28,553 shares of the specialty chemicals company’s stock worth $1,804,000 after acquiring an additional 18,771 shares during the period. 95.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Celeste Beeks Mastin bought 3,500 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was acquired at an average cost of $56.66 per share, for a total transaction of $198,310.00. Following the completion of the transaction, the chief executive officer now directly owns 3,500 shares in the company, valued at $198,310. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.99% of the stock is currently owned by company insiders.

H.B. Fuller Price Performance

Shares of NYSE FUL opened at $57.12 on Wednesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.16 and a current ratio of 1.81. H.B. Fuller has a fifty-two week low of $52.59 and a fifty-two week high of $87.67. The stock has a market cap of $3.10 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 1.13 and a beta of 1.41. The stock has a fifty day moving average of $58.09 and a 200-day moving average of $68.28.

H.B. Fuller (NYSE:FUL) last announced its quarterly earnings results on Wednesday, March 26th. The specialty chemicals company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.05. The firm had revenue of $788.66 million for the quarter, compared to analysts’ expectations of $769.55 million. H.B. Fuller had a return on equity of 12.01% and a net margin of 3.65%. The company’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 earnings per share. Equities research analysts anticipate that H.B. Fuller will post 4.07 earnings per share for the current year.

H.B. Fuller Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.2225 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.89 annualized dividend and a dividend yield of 1.56%. H.B. Fuller’s payout ratio is currently 44.50%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FUL. JPMorgan Chase & Co. reduced their target price on shares of H.B. Fuller from $60.00 to $50.00 and set an “underweight” rating for the company in a research report on Friday, March 28th. Vertical Research downgraded H.B. Fuller from a “buy” rating to a “hold” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lowered their target price on H.B. Fuller from $75.00 to $72.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Citigroup cut their price target on H.B. Fuller from $78.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, Seaport Res Ptn downgraded shares of H.B. Fuller from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.33.

H.B. Fuller 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.