Silvercrest Asset Management Group 13F: Cuts FUL Stake by $4.2M

Silvercrest Asset Management Group reduced its position in H.B. Fuller Company (NYSE: FUL) by 8.07% during the latest reporting period, according to its Form 13F filing with the SEC. The firm sold 65,324 shares of the specialty chemical maker, leaving it with 743,841 shares. This remaining stake was valued at approximately $47.33 million at the end of the quarter.

Silvercrest is known as a selective value manager that typically builds meaningful stakes in mid-cap companies and holds them for long-term gains. This trim appears to be a routine portfolio rebalancing rather than a major shift in strategy. It follows similar moves by Silvercrest during the same period, where the fund trimmed stakes in other specialty industrial firms like ICU Medical and Knife River Corporation while boosting its exposure to larger industrial giants like Honeywell.

On Saturday, shares of H.B. Fuller traded at $63.63. The stock has been trading in a 52-week range of $48.60 to $68.63. H.B. Fuller is trading above its 50-day moving average of $56.28 and its 200-day moving average of $59.79, showing some upward momentum over the last few months. With a price-to-earnings ratio of 14.73, the market is pricing the chemical supplier at a relatively moderate valuation compared to its historical averages.

Recent Earnings

H.B. Fuller reported annual revenue of $3.51 billion, up 5.8% compared to the prior year. The company posted earnings per share of $3.37, supported by a net margin of 5.3% and a return on equity of 9.39%. Investors are looking forward to the next quarterly financial report, which is scheduled for September 23, 2026.

Dividend

The company continues to return cash to shareholders, paying an annual dividend of $0.98 per share. This gives the stock a dividend yield of 1.98% at current prices. The payout ratio remains highly conservative at 28.19%, suggesting the company has plenty of room to sustain or grow its dividend in the future.

Insider Buying and Selling at H.B. Fuller Company

While institutional funds trimmed, some corporate insiders were buyers of the stock. On June 22, 2026, Executive Vice President and Chief Financial Officer John Corkrean bought 196 shares at an average price of $64.31, a transaction valued at $12,604.76. On the same day, Heather Campe, Senior Vice President of International Growth, purchased 35 shares at $64.31 for a total of $2,250.85. Neither of these transactions was conducted under a pre-planned Rule 10b5-1 trading script.

Wall Street Analysts Weigh In

Several research firms updated their outlooks on H.B. Fuller in late September 2026. On September 29, 2026, Deutsche Bank maintained its buy rating on the stock but lowered its price target to $62.00 from $72.00. On September 28, 2026, JP Morgan kept an Overweight rating and set a $66.00 target, down slightly from $67.00. Citigroup also maintained a buy rating on September 28, 2026, trimming its target price to $63.00 from $75.00. A few days earlier, on September 25, 2026, Baird kept its Outperform rating while lowering its target price to $65.00 from $75.00. Currently, the consensus target price among seven analysts is $73.29, with a consensus recommendation of "strong buy."

About H.B. Fuller

H.B. Fuller Company designs, manufactures, and sells industrial adhesives, sealants, and specialty chemical products worldwide. Its products are essential for packaging, hygiene products, electronics, aerospace, and commercial construction. Based in Saint Paul, Minnesota, the company has been operating since 1887 and relies on a global network of distributors and direct sales.

What's Ahead for FUL

Investors will want to watch the upcoming September earnings release to see if H.B. Fuller can maintain its revenue growth in a challenging global manufacturing environment. While Silvercrest's recent filing shows a modest reduction in its stake, these filings only reflect holdings as of the reporting date and do not necessarily show the wealth manager's current investment positions.