Seaport Research Highlights Margin Progress at H.B. Fuller (FUL), Flags Growth Uncertainty

Group 1 - H.B. Fuller Company is recognized as one of the 14 Best Mid-Cap Dividend Stocks to Buy Now [1] - Seaport Research analyst Michael Harrison raised the price target for H.B. Fuller to $84 from $80, maintaining a Buy rating, while expressing concerns about the company's organic growth potential [2] - H.B. Fuller's Q4 FY2025 results showed a revenue decline of 3.1% year-over-year to $895 million, with net income at $30 million; however, adjusted EBITDA increased by 14.6% to $170 million, and the adjusted EBITDA margin improved by 290 basis points to 19.0% [3][4] Group 2 - The company is projecting flat to 2% revenue growth for FY2026 compared to FY2025, with organic revenue expected to remain stable and a potential 1% increase from currency translation [5] - Operating cash flow for FY2026 is anticipated to be between $275 million and $300 million, with capital spending estimated at around $160 million, including $50 million for Project Quantum Leap [5] - H.B. Fuller operates as a pure-play adhesives business, focusing on the development and sale of adhesives, sealants, and specialty chemical products across various markets [6]