Intrinsic value of H.B. Fuller - FUL

Previous Close

$56.61

  Intrinsic Value

$58.15

stock screener

  Rating & Target

hold

+3%

Previous close

$56.61

 
Intrinsic value

$58.15

 
Up/down potential

+3%

 
Rating

hold

We calculate the intrinsic value of FUL stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  10.10
  9.59
  9.13
  8.72
  8.35
  8.01
  7.71
  7.44
  7.20
  6.98
  6.78
  6.60
  6.44
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
Revenue, $m
  2,539
  2,782
  3,036
  3,301
  3,577
  3,863
  4,161
  4,471
  4,792
  5,127
  5,474
  5,835
  6,211
  6,602
  7,010
  7,434
  7,876
  8,336
  8,817
  9,318
  9,842
  10,389
  10,961
  11,558
  12,183
  12,837
  13,521
  14,237
  14,987
  15,773
Variable operating expenses, $m
  2,269
  2,464
  2,668
  2,880
  3,101
  3,331
  3,569
  3,818
  4,075
  4,343
  4,388
  4,678
  4,979
  5,293
  5,619
  5,959
  6,313
  6,682
  7,068
  7,470
  7,890
  8,328
  8,786
  9,265
  9,766
  10,290
  10,839
  11,413
  12,014
  12,644
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,269
  2,464
  2,668
  2,880
  3,101
  3,331
  3,569
  3,818
  4,075
  4,343
  4,388
  4,678
  4,979
  5,293
  5,619
  5,959
  6,313
  6,682
  7,068
  7,470
  7,890
  8,328
  8,786
  9,265
  9,766
  10,290
  10,839
  11,413
  12,014
  12,644
Operating income, $m
  270
  318
  369
  421
  476
  533
  592
  653
  717
  783
  1,086
  1,158
  1,232
  1,310
  1,391
  1,475
  1,562
  1,654
  1,749
  1,849
  1,953
  2,061
  2,175
  2,293
  2,417
  2,547
  2,682
  2,825
  2,973
  3,129
EBITDA, $m
  729
  799
  872
  948
  1,027
  1,109
  1,195
  1,284
  1,376
  1,472
  1,572
  1,676
  1,784
  1,896
  2,013
  2,135
  2,262
  2,394
  2,532
  2,676
  2,827
  2,984
  3,148
  3,319
  3,499
  3,687
  3,883
  4,089
  4,304
  4,530
Interest expense (income), $m
  30
  132
  151
  169
  189
  210
  231
  253
  277
  301
  326
  352
  379
  407
  436
  466
  498
  531
  565
  601
  638
  677
  718
  760
  805
  851
  900
  951
  1,004
  1,059
  1,118
Earnings before tax, $m
  137
  168
  199
  232
  266
  301
  338
  377
  416
  458
  734
  779
  826
  874
  924
  977
  1,032
  1,089
  1,148
  1,210
  1,275
  1,343
  1,414
  1,488
  1,566
  1,647
  1,732
  1,821
  1,914
  2,012
Tax expense, $m
  37
  45
  54
  63
  72
  81
  91
  102
  112
  124
  198
  210
  223
  236
  250
  264
  279
  294
  310
  327
  344
  363
  382
  402
  423
  445
  468
  492
  517
  543
Net income, $m
  100
  122
  145
  169
  194
  220
  247
  275
  304
  334
  536
  569
  603
  638
  675
  713
  753
  795
  838
  884
  931
  981
  1,032
  1,086
  1,143
  1,202
  1,264
  1,329
  1,397
  1,468

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  4,799
  5,260
  5,740
  6,240
  6,761
  7,303
  7,866
  8,451
  9,059
  9,691
  10,348
  11,031
  11,742
  12,481
  13,250
  14,052
  14,888
  15,759
  16,667
  17,615
  18,605
  19,639
  20,720
  21,850
  23,031
  24,267
  25,560
  26,914
  28,332
  29,816
Adjusted assets (=assets-cash), $m
  4,799
  5,260
  5,740
  6,240
  6,761
  7,303
  7,866
  8,451
  9,059
  9,691
  10,348
  11,031
  11,742
  12,481
  13,250
  14,052
  14,888
  15,759
  16,667
  17,615
  18,605
  19,639
  20,720
  21,850
  23,031
  24,267
  25,560
  26,914
  28,332
  29,816
Revenue / Adjusted assets
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
Average production assets, $m
  2,255
  2,471
  2,696
  2,931
  3,176
  3,431
  3,695
  3,970
  4,256
  4,552
  4,861
  5,182
  5,516
  5,863
  6,224
  6,601
  6,993
  7,403
  7,829
  8,275
  8,740
  9,226
  9,733
  10,264
  10,819
  11,399
  12,007
  12,643
  13,309
  14,006
Working capital, $m
  99
  109
  118
  129
  139
  151
  162
  174
  187
  200
  213
  228
  242
  257
  273
  290
  307
  325
  344
  363
  384
  405
  427
  451
  475
  501
  527
  555
  585
  615
Total debt, $m
  2,788
  3,138
  3,503
  3,884
  4,281
  4,693
  5,121
  5,567
  6,029
  6,510
  7,010
  7,530
  8,071
  8,633
  9,219
  9,829
  10,465
  11,128
  11,819
  12,541
  13,294
  14,081
  14,903
  15,763
  16,662
  17,602
  18,587
  19,617
  20,696
  21,825
Total liabilities, $m
  3,652
  4,003
  4,368
  4,749
  5,145
  5,557
  5,986
  6,431
  6,894
  7,375
  7,875
  8,395
  8,935
  9,498
  10,084
  10,694
  11,329
  11,992
  12,684
  13,405
  14,159
  14,946
  15,768
  16,628
  17,527
  18,467
  19,451
  20,482
  21,560
  22,690
Total equity, $m
  1,147
  1,257
  1,372
  1,491
  1,616
  1,745
  1,880
  2,020
  2,165
  2,316
  2,473
  2,636
  2,806
  2,983
  3,167
  3,358
  3,558
  3,766
  3,983
  4,210
  4,447
  4,694
  4,952
  5,222
  5,504
  5,800
  6,109
  6,432
  6,771
  7,126
Total liabilities and equity, $m
  4,799
  5,260
  5,740
  6,240
  6,761
  7,302
  7,866
  8,451
  9,059
  9,691
  10,348
  11,031
  11,741
  12,481
  13,251
  14,052
  14,887
  15,758
  16,667
  17,615
  18,606
  19,640
  20,720
  21,850
  23,031
  24,267
  25,560
  26,914
  28,331
  29,816
Debt-to-equity ratio
  2.430
  2.500
  2.550
  2.600
  2.650
  2.690
  2.720
  2.760
  2.780
  2.810
  2.830
  2.860
  2.880
  2.890
  2.910
  2.930
  2.940
  2.950
  2.970
  2.980
  2.990
  3.000
  3.010
  3.020
  3.030
  3.040
  3.040
  3.050
  3.060
  3.060
Adjusted equity ratio
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  100
  122
  145
  169
  194
  220
  247
  275
  304
  334
  536
  569
  603
  638
  675
  713
  753
  795
  838
  884
  931
  981
  1,032
  1,086
  1,143
  1,202
  1,264
  1,329
  1,397
  1,468
Depreciation, amort., depletion, $m
  459
  481
  503
  527
  551
  577
  603
  631
  659
  689
  486
  518
  552
  586
  622
  660
  699
  740
  783
  827
  874
  923
  973
  1,026
  1,082
  1,140
  1,201
  1,264
  1,331
  1,401
Funds from operations, $m
  560
  603
  649
  696
  746
  797
  850
  906
  963
  1,023
  1,022
  1,087
  1,154
  1,224
  1,297
  1,373
  1,452
  1,535
  1,621
  1,711
  1,805
  1,903
  2,006
  2,113
  2,225
  2,342
  2,465
  2,594
  2,728
  2,869
Change in working capital, $m
  9
  9
  10
  10
  11
  11
  12
  12
  13
  13
  14
  14
  15
  15
  16
  17
  17
  18
  19
  20
  20
  21
  22
  23
  24
  25
  27
  28
  29
  31
Cash from operations, $m
  551
  594
  639
  686
  735
  786
  839
  894
  951
  1,010
  1,009
  1,073
  1,140
  1,209
  1,281
  1,357
  1,435
  1,517
  1,602
  1,692
  1,785
  1,882
  1,983
  2,090
  2,201
  2,317
  2,438
  2,566
  2,699
  2,838
Maintenance CAPEX, $m
  -205
  -225
  -247
  -270
  -293
  -318
  -343
  -370
  -397
  -426
  -455
  -486
  -518
  -552
  -586
  -622
  -660
  -699
  -740
  -783
  -827
  -874
  -923
  -973
  -1,026
  -1,082
  -1,140
  -1,201
  -1,264
  -1,331
New CAPEX, $m
  -207
  -216
  -226
  -235
  -245
  -254
  -265
  -275
  -286
  -297
  -309
  -321
  -334
  -347
  -362
  -377
  -392
  -409
  -427
  -445
  -465
  -486
  -508
  -531
  -555
  -581
  -608
  -636
  -666
  -697
Cash from investing activities, $m
  -412
  -441
  -473
  -505
  -538
  -572
  -608
  -645
  -683
  -723
  -764
  -807
  -852
  -899
  -948
  -999
  -1,052
  -1,108
  -1,167
  -1,228
  -1,292
  -1,360
  -1,431
  -1,504
  -1,581
  -1,663
  -1,748
  -1,837
  -1,930
  -2,028
Free cash flow, $m
  139
  152
  166
  181
  197
  214
  231
  249
  268
  288
  245
  266
  288
  310
  334
  358
  383
  409
  435
  463
  492
  522
  553
  586
  619
  654
  691
  729
  769
  810
Issuance/(repayment) of debt, $m
  336
  350
  365
  381
  396
  412
  429
  445
  463
  481
  500
  520
  541
  563
  586
  610
  636
  663
  691
  722
  753
  787
  822
  860
  899
  940
  984
  1,030
  1,079
  1,130
Issuance/(repurchase) of shares, $m
  3
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  339
  350
  365
  381
  396
  412
  429
  445
  463
  481
  500
  520
  541
  563
  586
  610
  636
  663
  691
  722
  753
  787
  822
  860
  899
  940
  984
  1,030
  1,079
  1,130
Total cash flow (excl. dividends), $m
  477
  502
  532
  562
  593
  626
  660
  695
  731
  769
  745
  786
  828
  873
  919
  968
  1,018
  1,071
  1,127
  1,185
  1,245
  1,309
  1,376
  1,445
  1,518
  1,595
  1,675
  1,759
  1,847
  1,940
Retained Cash Flow (-), $m
  -103
  -110
  -115
  -120
  -124
  -129
  -135
  -140
  -145
  -151
  -157
  -163
  -170
  -177
  -184
  -192
  -200
  -208
  -217
  -227
  -237
  -247
  -258
  -270
  -282
  -295
  -309
  -324
  -339
  -355
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  16
  18
  19
  21
  23
  25
  27
  29
  31
  34
  36
  38
  41
  43
  46
  49
  52
  55
  58
  62
  65
  69
  73
  77
  81
  85
  90
  95
  100
  105
Cash available for distribution, $m
  374
  392
  417
  442
  469
  496
  525
  555
  586
  618
  588
  622
  659
  696
  735
  776
  819
  863
  910
  958
  1,009
  1,062
  1,117
  1,175
  1,236
  1,299
  1,366
  1,436
  1,509
  1,585
Discount rate, %
  10.40
  10.92
  11.47
  12.04
  12.64
  13.27
  13.94
  14.63
  15.37
  16.13
  16.94
  17.79
  18.68
  19.61
  20.59
  21.62
  22.70
  23.84
  25.03
  26.28
  27.59
  28.97
  30.42
  31.94
  33.54
  35.22
  36.98
  38.83
  40.77
  42.81
PV of cash for distribution, $m
  339
  319
  301
  281
  259
  235
  211
  186
  162
  138
  105
  87
  71
  57
  44
  34
  25
  18
  13
  9
  6
  4
  2
  2
  1
  1
  0
  0
  0
  0
Current shareholders' claim on cash, %
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9

H.B. Fuller Company is a formulator, manufacturer and marketer of adhesives, sealants and other specialty chemical products. The Company's segments include Americas Adhesives, Europe, India, Middle East and Africa (EIMEA), Asia Pacific, Construction Products and Engineering Adhesives. The Americas Adhesives, EIMEA and Asia Pacific operating segments produce and supply industrial adhesives products for applications in various markets, including durable assembly, nonwoven and hygiene, and textile. The Construction Products operating segment includes products used for tile setting and heating, ventilation and air conditioning and insulation applications. The Engineering Adhesives operating segment produces and supplies industrial adhesives to the transportation, appliance and heavy machinery markets, among others. As of December 3, 2016, its sales operations spanned 38 countries in North America, Europe, Latin America, the Asia Pacific region, India, the Middle East and Africa.

FINANCIAL RATIOS  of  H.B. Fuller (FUL)

Valuation Ratios
P/E Ratio 22.9
Price to Sales 1.4
Price to Book 3
Price to Tangible Book
Price to Cash Flow 14.5
Price to Free Cash Flow 21.3
Growth Rates
Sales Growth Rate 0.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 6.8%
Cap. Spend. - 3 Yr. Gr. Rate -12.7%
Financial Strength
Quick Ratio 1
Current Ratio 0.2
LT Debt to Equity 62.5%
Total Debt to Equity 74.9%
Interest Coverage 7
Management Effectiveness
Return On Assets 7.1%
Ret/ On Assets - 3 Yr. Avg. 5.3%
Return On Total Capital 7.7%
Ret/ On T. Cap. - 3 Yr. Avg. 5.6%
Return On Equity 13.7%
Return On Equity - 3 Yr. Avg. 9.7%
Asset Turnover 1
Profitability Ratios
Gross Margin 29.1%
Gross Margin - 3 Yr. Avg. 27.2%
EBITDA Margin 13.1%
EBITDA Margin - 3 Yr. Avg. 11%
Operating Margin 9.7%
Oper. Margin - 3 Yr. Avg. 7.4%
Pre-Tax Margin 8%
Pre-Tax Margin - 3 Yr. Avg. 6.1%
Net Profit Margin 5.9%
Net Profit Margin - 3 Yr. Avg. 4.2%
Effective Tax Rate 29.9%
Eff/ Tax Rate - 3 Yr. Avg. 37.9%
Payout Ratio 22.6%

FUL stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FUL stock intrinsic value calculation we used $2306 million for the last fiscal year's total revenue generated by H.B. Fuller. The default revenue input number comes from 2017 income statement of H.B. Fuller. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our FUL stock valuation model: a) initial revenue growth rate of 10.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 10.4%, whose default value for FUL is calculated based on our internal credit rating of H.B. Fuller, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of H.B. Fuller.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of FUL stock the variable cost ratio is equal to 90.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for FUL stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for H.B. Fuller.

Corporate tax rate of 27% is the nominal tax rate for H.B. Fuller. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the FUL stock is equal to 0.7%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for FUL are equal to 88.8%.

Life of production assets of 10 years is the average useful life of capital assets used in H.B. Fuller operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for FUL is equal to 3.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1044 million for H.B. Fuller - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 50 million for H.B. Fuller is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of H.B. Fuller at the current share price and the inputted number of shares is $2.8 billion.

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COMPANY NEWS

▶ H.B. Fuller Named Strategic Supplier by Faurecia   [Jul-25-18 06:38PM  GlobeNewswire]
▶ H.B. Fuller Announces 2018 Analyst and Investor Day   [Jul-18-18 10:42PM  GlobeNewswire]
▶ H.B. Fuller Elects Daniel Florness to Board of Directors   [Jul-12-18 01:10PM  GlobeNewswire]
▶ H.B. Fuller Increases Quarterly Dividend   [12:57PM  GlobeNewswire]
▶ H. B. Fuller: Fiscal 2Q Earnings Snapshot   [05:03AM  Associated Press]
▶ H.B. Fuller Reports Second Quarter 2018 Results   [Jun-27-18 08:31PM  GlobeNewswire]
▶ H.B. Fuller's Q2 Earnings Preview   [07:54AM  Benzinga]
▶ H.B. Fuller Increases Quarterly Dividend   [Apr-12-18 05:41PM  GlobeNewswire]
▶ H. B. Fuller meets 1Q profit forecasts   [Mar-28-18 06:29PM  Associated Press]
▶ H.B. Fuller CEO James Owens' compensation almost doubles   [Feb-28-18 04:15PM  American City Business Journals]
▶ H.B. Fuller Announces Global Price Increase on Adhesives   [Feb-27-18 09:00AM  GlobeNewswire]
▶ H. B. Fuller reports 4Q loss   [05:03AM  Associated Press]
▶ H.B. Fuller Announces Quarterly Dividend   [Jan-18-18 10:46AM  GlobeNewswire]
▶ Stocks Generating Improved Relative Strength: Fuller HB   [03:00AM  Investor's Business Daily]
▶ H.B. Fuller Opens a New Facility in Germany   [Dec-04-17 11:08AM  Market Realist]
▶ H.B. Fuller Finalizes Its Adecol Deal   [Nov-13-17 11:32AM  Market Realist]
▶ H.B. Fuller Announces Quarterly Dividend   [Oct-05-17 01:07PM  GlobeNewswire]
▶ H.B. Fuller Appoints Ruth Kimmelshue to Board of Directors   [Oct-04-17 09:53PM  GlobeNewswire]
▶ H. B. Fuller misses 3Q profit forecasts   [Sep-28-17 09:41PM  Associated Press]
▶ H.B. Fuller Reports Third Quarter 2017 Results   [Sep-27-17 09:30PM  GlobeNewswire]
▶ IBD Rating Upgrades: Fuller HB Flashes Improved Technical Strength   [Sep-22-17 03:00AM  Investor's Business Daily]
▶ [$$] H.B. Fuller Acquisition Forms Tight Bond   [Sep-14-17 02:45PM  Barrons.com]
▶ H.B. Fuller to Acquire Royal Adhesives and Sealants   [Sep-12-17 07:44AM  Market Realist]
▶ Asian markets lower as cautions prevail over security risks   [Sep-05-17 11:37PM  Associated Press]
▶ What Happened in the Stock Market Today   [04:57PM  Motley Fool]
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