Hawkins (NASDAQ:HWKN) Stock Price Down 4.9% – Here’s Why

Hawkins, Inc. (NASDAQ:HWKN)’s stock price dropped 4.9% during mid-day trading on Friday . The company traded as low as $124.58 and last traded at $127.35. Approximately 49,906 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 128,011 shares. The stock had previously closed at $133.98.

Analyst Upgrades and Downgrades

Separately, BWS Financial downgraded Hawkins from a “buy” rating to a “neutral” rating and set a $122.00 target price for the company. in a research report on Wednesday.

Hawkins Stock Performance

The business’s fifty day moving average price is $122.91 and its two-hundred day moving average price is $100.59. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.44 and a current ratio of 2.27. The stock has a market capitalization of $2.68 billion, a P/E ratio of 35.28, a P/E/G ratio of 4.54 and a beta of 0.74.

Hawkins (NASDAQ:HWKN) last issued its quarterly earnings data on Wednesday, July 31st. The specialty chemicals company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.37. Hawkins had a return on equity of 20.16% and a net margin of 8.75%. The company had revenue of $255.88 million for the quarter, compared to analysts’ expectations of $254.30 million. As a group, sell-side analysts forecast that Hawkins, Inc. will post 4.14 earnings per share for the current year.

Hawkins Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Friday, August 16th. This is a positive change from Hawkins’s previous quarterly dividend of $0.16. Hawkins’s dividend payout ratio is presently 20.06%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Hawkins by 71.8% in the 3rd quarter. GAMMA Investing LLC now owns 402 shares of the specialty chemicals company’s stock worth $51,000 after acquiring an additional 168 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Hawkins in the 3rd quarter worth about $100,000. USA Financial Formulas lifted its stake in Hawkins by 35.1% in the third quarter. USA Financial Formulas now owns 885 shares of the specialty chemicals company’s stock worth $113,000 after purchasing an additional 230 shares during the last quarter. Capital Investment Advisors LLC bought a new stake in Hawkins in the third quarter worth about $225,000. Finally, Koshinski Asset Management Inc. purchased a new position in shares of Hawkins during the third quarter valued at approximately $282,000. 69.71% of the stock is owned by hedge funds and other institutional investors.

Hawkins Company Profile

Hawkins, Inc operates as a specialty chemical and ingredients company in the United States. It operates through three segments: Industrial, Water Treatment, and Health and Nutrition. The Industrial segment offers industrial chemicals, products, and services to agriculture, chemical processing, electronics, energy, food, pharmaceutical, and plating industries.