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Hawkins Inc director buys $288.9k worth of company stock

Published 06/10/2024, 04:30 PM

In a recent transaction, James A. Faulconbridge, a director at Hawkins Inc (NASDAQ:HWKN), acquired a substantial number of shares in the company. The purchases, which took place on June 6 and June 7, 2024, totaled $288,906 and involved prices ranging from $87.0114 to $88.0416 per share.

The transactions were spread over two days, with Faulconbridge buying shares at various prices. On the first day, he purchased 1,270 shares at an average price of $87.3994 and 530 shares at an average price of $87.9536. The following day, he continued to increase his stake by acquiring 746 shares at an average price of $87.0114 and another 754 shares at an average price of $88.0416.

Following these transactions, Faulconbridge's total ownership in Hawkins Inc has reached 42,017 shares. The purchases reflect the director's growing investment in the company, which specializes in wholesale distribution of chemicals and allied products.

Investors often monitor insider buying and selling as it can provide insights into how the company's leadership views the stock's value and prospects. The recent buying activity by a Hawkins Inc director may be of particular interest to current and potential shareholders.

For those interested in the specifics of the transactions, Hawkins Inc has committed to providing full information regarding the number of shares purchased at each separate price upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer.

In other recent news, specialty chemical and ingredients company, Hawkins, Inc., reported its fourth-quarter financial results for the fiscal year ending March 31, 2024. Hawkins' revenue surpassed analyst expectations, coming in at $223 million, despite a 2% decline from the same quarter last year. However, the company's earnings per share (EPS) fell short, posting $0.66 versus the anticipated $0.68.

The company's Water Treatment segment saw a significant 21% increase in sales compared to the previous year, contributing to the overall revenue beat. Furthermore, Hawkins achieved a 27% increase in gross profit to $45.5 million and a 9% rise in operating income for the quarter.

CEO and President, Patrick H. Hawkins, attributed the strong results to the company's strategic growth through acquisitions, particularly in the Water Treatment segment. Looking ahead, Hawkins anticipates continued growth in the fiscal year 2025, with revenue approaching $1 billion. The company's full-year figures also reflected robust growth, with sales reaching $919.2 million, albeit a 2% decrease from the prior fiscal year.

InvestingPro Insights

Amidst the insider trading activity at Hawkins Inc (NASDAQ:HWKN), there are some compelling financial metrics and analyst insights that current and potential investors might find informative. With a market cap of approximately $1.83 billion and a P/E ratio of 24.14, the company shows a stable valuation in the market. Notably, the PEG ratio, which stands at 0.94, suggests that Hawkins Inc's stock price is in line with its earnings growth, a factor that could reassure investors about the company's pricing.

Adding to the positive outlook, one of the InvestingPro Tips highlights that Hawkins Inc has raised its dividend for 12 consecutive years, underscoring a commitment to returning value to shareholders. Furthermore, the company is noted for trading at a low P/E ratio relative to near-term earnings growth, which could indicate an undervalued stock with potential for appreciation.

For those looking deeper into the company's performance, Hawkins Inc has been profitable over the last twelve months, as mentioned in one of the numerous InvestingPro Tips available. These tips, along with additional insights, can be accessed through InvestingPro's platform, which offers an in-depth analysis of companies like Hawkins Inc. Interested investors can utilize the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable insights into Hawkins Inc's financial health and future prospects.

It's worth noting that there are 14 additional InvestingPro Tips available for Hawkins Inc, which provide a broader view of the company's financial landscape and market performance. Such tips could be particularly useful in the context of recent insider buying, offering a comprehensive picture that can inform investment decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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