Hawkins (NASDAQ:HWKN) Stock Price Down 7.2% – Here’s Why

Hawkins, Inc. (NASDAQ:HWKN)’s stock price was down 7.2% on Friday . The company traded as low as $109.15 and last traded at $109.65. Approximately 29,181 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 103,009 shares. The stock had previously closed at $118.10.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a “neutral” rating and set a $122.00 price objective on shares of Hawkins in a research note on Thursday, October 31st.

Hawkins Stock Performance

The stock’s 50-day moving average is $126.06 and its 200 day moving average is $118.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.39 and a current ratio of 2.27. The firm has a market cap of $2.30 billion, a P/E ratio of 28.09, a PEG ratio of 4.51 and a beta of 0.84.

Hawkins (NASDAQ:HWKN) last announced its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.02). Hawkins had a return on equity of 19.64% and a net margin of 8.74%. The business had revenue of $247.03 million during the quarter, compared to the consensus estimate of $259.59 million. On average, research analysts predict that Hawkins, Inc. will post 4.12 earnings per share for the current year.

Hawkins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Friday, November 15th. Hawkins’s payout ratio is currently 18.41%.

Institutional Investors Weigh In On Hawkins

Several large investors have recently made changes to their positions in the stock. Jane Street Group LLC boosted its stake in Hawkins by 127.3% in the 3rd quarter. Jane Street Group LLC now owns 47,432 shares of the specialty chemicals company’s stock worth $6,046,000 after purchasing an additional 26,568 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in shares of Hawkins in the third quarter valued at about $2,021,000. Bridges Investment Management Inc. acquired a new position in shares of Hawkins during the second quarter worth about $487,000. Public Sector Pension Investment Board grew its holdings in shares of Hawkins by 6.6% during the second quarter. Public Sector Pension Investment Board now owns 41,857 shares of the specialty chemicals company’s stock worth $3,809,000 after buying an additional 2,599 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Hawkins by 22.4% in the 2nd quarter. American Century Companies Inc. now owns 360,714 shares of the specialty chemicals company’s stock valued at $32,825,000 after buying an additional 66,109 shares during the last quarter. Institutional investors own 69.71% of the company’s stock.

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.