Hawkins (NASDAQ:HWKN) Shares Gap Down on Disappointing Earnings

Hawkins, Inc. (NASDAQ:HWKN)’s share price gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $117.29, but opened at $109.51. Hawkins shares last traded at $111.25, with a volume of 40,698 shares changing hands.

The specialty chemicals company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). The firm had revenue of $247.03 million during the quarter, compared to analyst estimates of $259.59 million. Hawkins had a net margin of 8.74% and a return on equity of 20.08%.

Hawkins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Friday, November 15th. Hawkins’s dividend payout ratio is presently 18.41%.

Analysts Set New Price Targets

Separately, BWS Financial reissued a “neutral” rating and set a $122.00 price target on shares of Hawkins in a research report on Thursday.

Institutional Investors Weigh In On Hawkins

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of Hawkins by 71.8% during the third quarter. GAMMA Investing LLC now owns 402 shares of the specialty chemicals company’s stock worth $51,000 after purchasing an additional 168 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Hawkins by 289.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 467 shares of the specialty chemicals company’s stock worth $59,000 after buying an additional 347 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Hawkins in the 3rd quarter worth approximately $100,000. USA Financial Formulas increased its holdings in shares of Hawkins by 35.1% in the 3rd quarter. USA Financial Formulas now owns 885 shares of the specialty chemicals company’s stock valued at $113,000 after acquiring an additional 230 shares during the last quarter. Finally, Capital Investment Advisors LLC bought a new stake in shares of Hawkins in the 3rd quarter valued at approximately $225,000. 69.71% of the stock is currently owned by hedge funds and other institutional investors.

Hawkins Price Performance

The stock has a market capitalization of $2.22 billion, a P/E ratio of 27.21, a PEG ratio of 3.91 and a beta of 0.74. The company has a 50 day moving average of $122.48 and a 200-day moving average of $103.73. The company has a quick ratio of 1.44, a current ratio of 2.27 and a debt-to-equity ratio of 0.29.

About Hawkins

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.