NewEdge Wealth LLC Makes New Investment in Hawkins, Inc. $HWKN

NewEdge Wealth LLC purchased a new position in shares of Hawkins, Inc. (NASDAQ:HWKN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,115 shares of the specialty chemicals company’s stock, valued at approximately $935,000.

Several other institutional investors and hedge funds have also modified their holdings of HWKN. New York State Common Retirement Fund increased its position in shares of Hawkins by 137.5% during the third quarter. New York State Common Retirement Fund now owns 16,302 shares of the specialty chemicals company’s stock worth $2,979,000 after acquiring an additional 9,439 shares in the last quarter. Callan Family Office LLC acquired a new position in Hawkins in the 3rd quarter worth $1,568,000. Montanaro Asset Management Ltd increased its holdings in Hawkins by 294.0% during the 2nd quarter. Montanaro Asset Management Ltd now owns 59,100 shares of the specialty chemicals company’s stock worth $8,398,000 after purchasing an additional 44,100 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Hawkins by 12.7% in the 3rd quarter. Principal Financial Group Inc. now owns 113,371 shares of the specialty chemicals company’s stock valued at $20,715,000 after purchasing an additional 12,767 shares during the period. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Hawkins in the 2nd quarter valued at about $4,594,000. 69.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hawkins

In other news, Director James A. Faulconbridge bought 1,500 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were bought at an average cost of $129.29 per share, with a total value of $193,935.00. Following the acquisition, the director owned 50,907 shares in the company, valued at $6,581,766.03. This trade represents a 3.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HWKN. Zacks Research upgraded Hawkins from a “strong sell” rating to a “hold” rating in a report on Friday, January 2nd. BWS Financial reaffirmed a “buy” rating and set a $200.00 price target on shares of Hawkins in a research report on Thursday, January 29th. Finally, Weiss Ratings downgraded shares of Hawkins from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $162.50.

Hawkins Stock Performance

Shares of NASDAQ HWKN opened at $146.50 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.46 and a current ratio of 2.35. The stock has a 50 day moving average price of $146.02 and a 200 day moving average price of $153.89. The stock has a market capitalization of $3.06 billion, a PE ratio of 37.09, a price-to-earnings-growth ratio of 3.10 and a beta of 0.86. Hawkins, Inc. has a 52 week low of $98.30 and a 52 week high of $186.15.

Hawkins (NASDAQ:HWKN) last announced its quarterly earnings data on Wednesday, January 28th. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.03). Hawkins had a return on equity of 16.85% and a net margin of 7.75%.The company had revenue of $244.08 million for the quarter, compared to the consensus estimate of $252.51 million. Analysts predict that Hawkins, Inc. will post 4 earnings per share for the current fiscal year.

Hawkins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, February 13th. Hawkins’s dividend payout ratio (DPR) is 19.24%.

About Hawkins

Hawkins, Inc (NASDAQ: HWKN) is a specialty chemical company that produces and distributes water-treatment and industrial chemicals across North America. Founded in 1938 and headquartered in Roseville, Minnesota, the company has built a network of manufacturing facilities and distribution centers that serve municipal, industrial and commercial customers. As a publicly traded entity, Hawkins leverages its long-standing presence in the chemical distribution industry to provide tailored solutions for complex water-treatment challenges and specialty chemical needs.

Hawkins’ product portfolio encompasses a wide range of chemicals, including sodium hypochlorite, sodium hydroxide, hydrogen peroxide, chlorine, acids and specialty blends.