H.B. Fuller Company (NYSE:FUL) is included among the 14 Best Mid-Cap Dividend Stocks to Buy Now. Seaport Research Highlights Margin Progress at H.B. Fuller (FUL), Flags Growth Uncertainty On January 16, Seaport Research analyst Michael Harrison nudged up his price target on H.B. Fuller Company (NYSE:FUL) to $84 from $80, while sticking with a Buy rating. He said margins are still trending in the right direction, but he’s not quite as confident about how much organic growth the company can deliver from he ...

Core Viewpoint - H.B. Fuller Company is a global leader in adhesives and specialty chemical products, with a current stock price of $63.49 and a "Buy" rating from Deutsche Bank, which has raised its price target from $70 to $72 [1][5]. Financial Performance - The Q4 2025 earnings call provided insights into H.B. Fuller's financial health, with the stock price reflecting a decrease of approximately 1.91% from the previous trading session [2]. - The stock experienced a low of $63.08 and a high of $66.37 during the day's trading, with a yearly fluctuation between a high of $67.05 and a low of $47.56 [3]. Market Metrics - H.B. Fuller's market capitalization is approximately $3.43 billion, indicating its size and value in the market [4]. - The trading volume of 1,365,709 shares suggests active investor interest and engagement [4][5].

Core Insights - The company reported significant profitability improvements, with adjusted gross margin increasing by 290 basis points to 32.5%, driven by pricing, raw material cost actions, acquisitions, divestitures, and targeted cost reductions [1] - Adjusted EBITDA for fiscal 2025 was $170 million, reflecting a 15% year-on-year increase, while adjusted EPS rose 39% to $1.28 due to higher operating income and a reduced share count from share repurchases [1][6] - Despite a challenging economic backdrop, the company achieved double-digit profit growth in fiscal 2025, attributing margin expansion to pricing discipline and restructuring efforts [4] Financial Performance - For Q4, net revenue decreased by 3.1% year-over-year, primarily due to a weak economic environment and strategic portfolio actions, although it would have increased by about 1% when adjusting for the flooring divestiture [2] - Organic revenue fell by 1.3%, with a 2.5% volume decline partially offset by 1.2% pricing growth [2] - Cash flow from operations in Q4 was $107 million, up 25% year-on-year, driven by higher net income [6] Segment Performance - Engineering Adhesives (EA) showed organic revenue growth of 2.2%, with strength in automotive, electronics, and aerospace, while Hygiene, Health and Consumables (HHC) saw a 1.8% decline in organic revenue due to lower volume [7] - Building Adhesives Solutions (BAS) experienced a 4.8% decrease in organic sales, attributed to lower volume and tough comparisons from the previous year [7] 2026 Outlook - Management expects organic sales to be roughly flat for fiscal 2026, with adjusted EBITDA guidance of $630 million to $660 million and adjusted EPS of $4.35 to $4.70 [5][9] - The company anticipates a foreign currency translation benefit of approximately 1% to revenue if rates hold [9] - For Q1, revenue is expected to decline in low single digits, with adjusted EBITDA projected between $110 million and $120 million [11] Strategic Initiatives - The company is focusing on ongoing portfolio repositioning and a "Quantum Leap" initiative for manufacturing and warehouse consolidation [13] - In 2023 and 2024, the company acquired eight companies with a combined EBITDA of $41 million, which contributed $73 million of EBITDA in 2025 [14] - The company plans to reduce its solar business, with revenue expected to decline from $80 million in 2025 to around $50 million by the end of 2026 [16] Special Items - A reserve for a product liability legal claim related to the divested flooring business was recorded in Q4, amounting to approximately $35 million pre-tax [17]

Core Viewpoint - RPM International Inc. is a global leader in specialty coatings, sealants, and building materials, with a focus on innovative products and strategic acquisitions to drive growth [1] Financial Performance - On January 8, 2026, RPM reported earnings per share (EPS) of $1.20, missing the estimated $1.41, while revenue was approximately $1.91 billion, slightly below the expected $1.93 billion [2] - RPM anticipates sales growth across its segments, driven by strong demand and recent acquisitions, with MAP 2025 initiatives expected to improve margins and support year-over-year growth in adjusted earnings before interest and taxes (EBIT) [2] - In the previous quarter, RPM's adjusted EPS and net sales exceeded the Zacks Consensus Estimate by 0.5% and 3.4%, respectively, with year-over-year growth of 2.2% and 7.4% [2] - Over the last four quarters, RPM has surpassed analysts' expectations three times, resulting in a negative average surprise of 5.4% [2] Valuation Metrics - RPM has a price-to-earnings (P/E) ratio of approximately 19.16, indicating the price investors are willing to pay for each dollar of earnings [3] - The price-to-sales ratio stands at about 1.70, suggesting the value placed on each dollar of sales [3] - RPM's enterprise value to sales ratio is roughly 1.70, reflecting its total valuation compared to sales [3] - The enterprise value to operating cash flow ratio is around 15.68, showing how RPM's valuation compares to its cash flow from operations [3] - With an earnings yield of approximately 5.22%, RPM offers a return on investment relative to its share price [3] - The debt-to-equity ratio is about 0.11, indicating a relatively low level of debt compared to equity [3] - RPM has a current ratio of approximately 2.22, suggesting strong liquidity and the ability to cover its short-term liabilities [3]

Summary of Key Points from the Conference Call Industry Overview - **Industry Focus**: Electronic Chemicals and Fine Chemicals in Japan - **Industry View**: Both sectors are rated as "In-Line" by Morgan Stanley, indicating stable performance expectations for the upcoming periods [5][6][43] Electronic Chemicals - **Resonac Holdings**: Expected to continue significant profit growth driven by: - Expansion in AI-related materials such as Thermal Interface Materials (TIM) - Increased volumes in High-Density (HD) products - Benefits from restructuring efforts related to General Electric (GE) [5][43] - **Sumitomo Bakelite**: Anticipated to maintain strong fundamentals due to: - Stable growth in sealants - Wider adoption of LaZ materials [5][43] - **Tokyo Ohka Kogyo**: Market share is recovering in the 2nm segment, but growth is weaker than consensus expectations, with a noted decline in the 1.4nm segment [5][43] Fine Chemicals - **Mitsubishi Gas Chemical**: Gaining market share in the BGA (Ball Grid Array) market through sales to Ibiden and Unimicron [6][43] - **Tokuyama**: Experiencing strong growth in aluminum nitride and isopropyl alcohol (IPA), although trends in Vinyl Chloride Monomer (VCM) appear weak [6][43] - **NOF**: Notable growth in explosives, with a solid performance in DDS (Drug Delivery Systems). Currently focusing on the timing of recovery in the cosmetics ODM (Original Design Manufacturer) business [6][43] - **Air Water**: Assessing the impact of improper accounting, but core businesses are becoming clearer, attracting attention for their potential [6][43] - **Denka**: Expanding low-dielectric silica and resins for CCL (Copper Clad Laminate) applications, but facing increasing special losses beyond consensus expectations [6][43] - **Daicel**: Currently in an adjustment phase for filter tow, with attractive valuations but lacking a clear growth driver [6][43] - **Kaneka**: Functional resins for the US market are expected to remain weak in Q3, with a full recovery anticipated in Q4 [6][43] - **Kureha**: Recovery in PVDF (Polyvinylidene Fluoride) for lithium-ion batteries is sluggish, but a relatively high dividend yield supports stock price [6][43] - **Sekisui Chemical**: Weak performance in automotive and housing-related materials, with an impairment announced on its biorefinery project [6][43] - **Nippon Sanso**: Facing valuation pressure due to concerns over declining Return on Invested Capital (ROIC) across the industrial gas sector [6][43] Financial Metrics and Projections - **Resonac Holdings**: - Market Cap: JPY 1,248.3 billion - Target Price: JPY 7,700 - P/E Ratio: Expected to be 14.1 in 2024, increasing to 91.2 in 2025e [7][8] - **Tokyo Ohka Kogyo**: - Market Cap: JPY 767.4 billion - Target Price: JPY 6,100 - P/E Ratio: Expected to be 32.1 in 2024, decreasing to 22.5 in 2026e [7][8] - **Sumitomo Bakelite**: - Market Cap: JPY 483.2 billion - Target Price: JPY 5,500 - P/E Ratio: Expected to be 24.7 in 2024, decreasing to 14.3 in 2026e [7][8] Quarterly and Annual Performance - **Quarterly Operating Profit**: - Electronic Materials showed significant YoY growth, with Resonac Holdings reporting a 55% increase in Q4 2025 compared to Q4 2024 [9][10] - **Annual Operating Profit**: - Electronic Materials projected to reach JPY 170.5 billion in FY25, with a growth rate of 17% [10][11] Additional Insights - **Forex Sensitivity**: The operating profit is sensitive to currency fluctuations, with a notable impact from changes in the USD/JPY exchange rate [11] - **Shareholder Returns**: Companies are focusing on maintaining or increasing dividend payouts, with several firms targeting a payout ratio of 40% or higher [11] This summary encapsulates the key insights and financial metrics from the conference call, providing a comprehensive overview of the Electronic Chemicals and Fine Chemicals sectors in Japan.

Group 1 - RPM International Inc. is recognized as one of the 13 Best January Dividend Stocks to Invest in [1] - UBS has lowered its price target for RPM to $119 from $127 while maintaining a Neutral rating [2] - Mizuho has also reduced its target to $128 from $138 but keeps an Outperform rating, citing pressure from rising exports from China on basic chemical markets [3] Group 2 - RPM's board approved a quarterly cash dividend of $0.54 per share, to be paid on January 30, 2026 [4] - The recent dividend follows a 6% increase in October 2025, marking the 52nd consecutive year of dividend growth, with approximately $3.8 billion returned to shareholders over this period [5] - RPM operates subsidiaries focused on coatings, sealants, building materials, and related services, organized into Construction Products Group, Performance Coatings Group, and Consumer segments [6]

Core Viewpoint - H.B. Fuller Company plans to report its financial results for the fiscal periods ending November 29, 2025, on January 14, 2026, and will hold an investor conference call on January 15, 2026, to discuss these results [1]. Financial Reporting - The financial results will cover both the three-month and twelve-month periods ending November 29, 2025 [1]. - The press release regarding the financial results will be issued after market close on January 14, 2026 [1]. Conference Call Details - The investor conference call is scheduled for January 15, 2026, at 9:30 a.m. CT (10:30 a.m. ET) [1]. - Interested parties can access the live webcast of the conference call through the company's website, with pre-registration required [2]. - A telephone replay of the conference call will be available from January 15, 2026, at 12:30 p.m. CT until January 22, 2026, at 10:59 p.m. CT [3]. Company Overview - H.B. Fuller is the largest pureplay adhesives company globally, with a revenue of $3.6 billion in 2024 [4]. - The company was founded in 1887 and employs over 7,500 team members, serving more than 30 market segments in over 140 countries [4]. - H.B. Fuller's mission is to enhance the quality, safety, and performance of everyday products through innovative coatings, adhesives, and sealants [4].

Core Insights - Eminence Capital has fully exited its position in Installed Building Products, selling 945,101 shares for approximately $170 million, marking a significant change in its investment strategy [1][2][10]. Company Overview - Installed Building Products, Inc. operates in the U.S. residential and commercial construction markets, focusing on the installation and distribution of insulation and complementary building products [5][9]. - The company reported a total revenue of $2.97 billion and a net income of $255.70 million for the trailing twelve months (TTM) [4]. Financial Performance - As of November 13, 2025, shares of Installed Building Products were priced at $257.14, reflecting a 26.0% increase over the past year, outperforming the S&P 500 by 13.44 percentage points [3][10]. - The company's dividend yield stands at 1.25% [4]. Business Model - Installed Building Products employs a vertically integrated business model, combining installation, distribution, and manufacturing to serve builders across the United States [9][14]. - The company focuses on both new construction and retrofit markets, leveraging a diversified product portfolio to provide value-added services [5][9]. Market Position and Strategy - Installed Building Products has transformed from a small insulation contractor into one of the largest installation platforms in the U.S., primarily generating revenue through installation services and product distribution [11][6]. - The company aims to continue its growth by acquiring well-run regional installers and integrating them into its operations, positioning itself as a consolidator in a fragmented industry [11][12]. Recent Developments - The complete sale of Installed Building Products shares by Eminence Capital indicates a strategic shift, as the stake previously represented 2.1% of the fund's assets under management [2][7]. - The decision to exit after a year of strong performance raises questions about the long-term growth potential of Installed Building Products and its ability to maintain attractive returns on acquisitions [10][12].

Core Viewpoint - Nordson Corporation (NDSN) is expected to report strong earnings growth, with analysts projecting a profit increase for fiscal Q4 2025 and beyond, despite recent stock performance lagging behind market indices [1][2][3]. Financial Performance - NDSN is valued at a market cap of $13.4 billion and is set to announce its fiscal Q4 earnings for 2025 soon [1]. - Analysts anticipate a profit of $2.93 per share for fiscal Q4 2025, representing a 5.4% increase from $2.78 per share in the same quarter last year [2]. - For fiscal 2025, the expected profit is $10.14 per share, up 4.2% from $9.73 per share in fiscal 2024, with further growth projected to $11.05 per share in fiscal 2026 [2]. Recent Stock Performance - Over the past 52 weeks, NDSN's stock has declined by 3.9%, underperforming the S&P 500 Index, which returned 18.4%, and the Industrial Select Sector SPDR Fund, which increased by 15% [3]. - Following the release of better-than-expected Q3 results, NDSN's shares surged by 3% in the subsequent trading session [4]. Q3 Results - In Q3, NDSN reported a revenue increase of 12.1% year-over-year to $741.5 million, exceeding consensus estimates by 2.8% [4]. - The adjusted EPS for Q3 was $2.73, reflecting a 13.3% increase from the previous year and surpassing analyst expectations by 3.8% [4]. Analyst Ratings - Wall Street analysts maintain a "Moderate Buy" rating for NDSN, with five out of eleven analysts recommending "Strong Buy" and six suggesting "Hold" [5]. - The mean price target for NDSN is $257.56, indicating an 8.1% potential upside from current levels [5].

Company Overview - H B Fuller's FY24 revenue reached $3.6 billion[18] - The company's product portfolio now addresses 92% of an $80 billion market, a significant increase from 43% of a $31 billion market pre-2000[34] - H B Fuller currently holds a 4.5% market share in the $80 billion adhesives and sealants market[39, 91] - H B Fuller has a 6% market share in its $56 billion target market[39, 91] Financial Performance and Targets - H B Fuller aims for >5% annual constant currency revenue growth[213, 215] - The company targets EBITDA growth exceeding 2x revenue growth[213, 220] - H B Fuller is targeting >20% EBITDA margin[23, 213, 249] - The company aims to maintain working capital <15% of revenue[213, 223] Strategic Initiatives - Project Quantum Leap aims to reduce the number of manufacturing plants from 82 to 55 by 2030, generating $75 million in run-rate savings[108] - H B Fuller has already announced and in many cases completed reduction of 16 closures by end 2025[108] - The company plans to reduce the number of warehouses in North America from 55 to 10 within two years[108]