Cornerstone Wealth Management LLC Buys Shares of 61,705 HB Fuller Co (FUL)

Cornerstone Wealth Management LLC bought a new stake in shares of HB Fuller Co (NYSE:FUL) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 61,705 shares of the specialty chemicals company’s stock, valued at approximately $1,078,000. Cornerstone Wealth Management LLC owned approximately 0.12% of HB Fuller at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its position in shares of HB Fuller by 6.1% during the 2nd quarter. BlackRock Inc. now owns 7,233,376 shares of the specialty chemicals company’s stock valued at $388,286,000 after buying an additional 415,166 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of HB Fuller by 13.5% during the 2nd quarter. Janus Henderson Group PLC now owns 2,809,497 shares of the specialty chemicals company’s stock valued at $150,814,000 after buying an additional 335,020 shares in the last quarter. Northern Trust Corp raised its position in shares of HB Fuller by 5.0% during the 2nd quarter. Northern Trust Corp now owns 1,189,072 shares of the specialty chemicals company’s stock valued at $63,830,000 after buying an additional 56,943 shares in the last quarter. Cooke & Bieler LP raised its position in shares of HB Fuller by 11.1% during the 2nd quarter. Cooke & Bieler LP now owns 459,310 shares of the specialty chemicals company’s stock valued at $24,656,000 after buying an additional 45,730 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of HB Fuller by 9.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 398,043 shares of the specialty chemicals company’s stock valued at $21,367,000 after buying an additional 33,956 shares in the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.

HB Fuller stock opened at $44.46 on Thursday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.48 and a current ratio of 2.25. HB Fuller Co has a 1-year low of $41.26 and a 1-year high of $59.58. The stock has a market capitalization of $2.14 billion, a P/E ratio of 17.39, a PEG ratio of 0.71 and a beta of 1.42.

HB Fuller (NYSE:FUL) last posted its quarterly earnings data on Wednesday, September 26th. The specialty chemicals company reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.04). HB Fuller had a return on equity of 13.41% and a net margin of 4.14%. The firm had revenue of $770.11 million during the quarter, compared to analysts’ expectations of $784.75 million. Sell-side analysts expect that HB Fuller Co will post 3.11 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Thursday, October 18th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Wednesday, October 17th. HB Fuller’s dividend payout ratio (DPR) is currently 24.80%.

In related news, VP Traci L. Jensen sold 4,508 shares of the stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $57.45, for a total value of $258,984.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.46% of the company’s stock.

Several brokerages have recently issued reports on FUL. Zacks Investment Research upgraded shares of HB Fuller from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Wednesday, August 29th. Berenberg Bank began coverage on shares of HB Fuller in a research report on Thursday, July 12th. They set a “buy” rating and a $65.00 target price on the stock. JPMorgan Chase & Co. restated an “overweight” rating and set a $57.00 target price on shares of HB Fuller in a research report on Thursday, July 5th. Deutsche Bank decreased their target price on shares of HB Fuller from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, September 28th. Finally, ValuEngine cut shares of HB Fuller from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $61.00.

HB Fuller Company Profile

H.B. Fuller Company, together with its subsidiaries, formulates, manufactures, and markets adhesives, sealants, and other specialty chemical products worldwide. The company operates through six segments: Americas Adhesives; EIMEA (Europe, India, Middle East and Africa); Asia Pacific; Construction Products; Engineering Adhesives; and Royal Adhesives.

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Institutional Ownership by Quarter for HB Fuller (NYSE:FUL)

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