Hamilton Beach Brands (NYSE:HBB) Sets New 52-Week High – Here’s Why

Shares of Hamilton Beach Brands Holding Company (NYSE:HBB) hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $37.18 and last traded at $37.2750, with a volume of 57351 shares trading hands. The stock had previously closed at $34.58.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Hamilton Beach Brands from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Weiss Ratings raised Hamilton Beach Brands from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Hamilton Beach Brands Price Performance

The company has a market capitalization of $499.47 million, a P/E ratio of 8.74 and a beta of 0.29. The company has a quick ratio of 2.04, a current ratio of 3.13 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average price is $29.80 and its 200 day moving average price is $23.24.

Hamilton Beach Brands (NYSE:HBB) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $0.16 by $2.33. Hamilton Beach Brands had a net margin of 9.41% and a return on equity of 30.70%. The business had revenue of $142.63 million during the quarter, compared to analysts’ expectations of $142.63 million.

Hamilton Beach Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a $0.1250 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Tuesday, September 1st. Hamilton Beach Brands’s dividend payout ratio is presently 11.76%.

Insider Buying and Selling

In other news, CFO Sarah M. Cunningham sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $32.50, for a total transaction of $97,500.00. Following the sale, the chief financial officer directly owned 39,430 shares in the company, valued at approximately $1,281,475. The trade was a 7.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 38.98% of the company’s stock.

Hedge Funds Weigh In On Hamilton Beach Brands

A number of hedge funds have recently made changes to their positions in HBB. North Star Investment Management Corp. lifted its holdings in Hamilton Beach Brands by 16.5% in the first quarter. North Star Investment Management Corp. now owns 190,600 shares of the company’s stock valued at $3,612,000 after buying an additional 26,949 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Hamilton Beach Brands in the 2nd quarter worth $2,130,000. Empowered Funds LLC lifted its stake in shares of Hamilton Beach Brands by 9.5% in the first quarter. Empowered Funds LLC now owns 67,692 shares of the company’s stock valued at $1,283,000 after buying an additional 5,858 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Hamilton Beach Brands by 8.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 66,500 shares of the company’s stock worth $1,260,000 after acquiring an additional 4,898 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Hamilton Beach Brands in the second quarter worth approximately $431,000. 50.55% of the stock is currently owned by institutional investors.

Hamilton Beach Brands Company Profile

Hamilton Beach Brands Holding Company (NYSE:HBB) designs, markets and distributes a broad range of small electric household appliances and commercial foodservice equipment. Its consumer products include blenders, coffee makers, slow cookers, air fryers, toasters, toaster ovens, electric kettles, food processors, hand and stand mixers, and related kitchen appliances.

The company sells products under brands including Hamilton Beach, Proctor Silex and Weston, as well as through its Hamilton Beach Commercial business.