FULLER H B CO
In the published model solve dated 2026-Q2, anchored at $56.35, FULLER H B CO (FUL) is priced for -3.0% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 26, 2026 from SEC EDGAR filings.
- A mature, cyclical adhesives maker: at about $65 the price embeds roughly 14% operating-income growth and a margin recovery, demanding for a low-single-digit organic grower whose value should rest on steady cash generation, not acceleration. - The valuation is supported by relative multiples only; earnings-power value near $30, excess-return models in the high $20s to low $30s, and a negative-growth DCF all land well below the price. - Leverage is the binding constraint: net debt near $2 billi
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325 institutional managers reported holding FUL in 13F filings for the quarter ended 2026-03-31. 38 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 2.2M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (3.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
FUL's share count grew 3% over the past five years even with $155.61M spent on repurchases. It pays a dividend, and has paid one every year in our records (17 and counting), raised 16 years straight; the current rate is $0.93 a share annually. Cash returned over the past three years: $145.98M in dividends and $149.06M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at FUL over the trailing three years: 2025: 2 buys totaling $200k. 20 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
FUL's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-06-30 | +10.6% | +2.1% |
| 2023-09-29 | +1.5% | +12.1% |
| 2024-01-25 | +0.0% | +2.3% |
| 2024-03-29 | -3.4% | -0.1% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
FUL's latest 8-K filings: 2026-07-20 (items 1.01, 1.02, 2.03, 9.01); 2026-06-26 (items 1.01, 2.03, 7.01, 9.01); 2026-06-25 (items 2.02, 9.01); 2026-04-17 (items 5.07); 2026-03-26 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 26, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.