HB Fuller Co (FUL): Hedge Funds Are Snapping Up

With a general bullishness amongst the heavyweights, specific money managers were breaking ground themselves. Royce & Associates created the most outsized position in HB Fuller Co (NYSE:FUL). Royce & Associates had $3.1 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also initiated an $1.2 million position during the quarter. The only other fund with a new position in the stock is Paul Marshall and Ian Wace’s Marshall Wace LLP.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as HB Fuller Co (NYSE:FUL) but similarly valued. These stocks are Diamond Resorts International Inc (NYSE:DRII), Marcus & Millichap Inc (NYSE:MMI), Enbridge Energy Management, L.L.C. (NYSE:EEQ), and Rexnord Corp (NYSE:RXN). This group of stocks’ market values match FUL’s market value.

As you can see these stocks had an average of 17.5 hedge funds with bullish positions and the average amount invested in these stocks was $138 million. That figure was $101 million in FUL’s case. Diamond Resorts International Inc (NYSE:DRII) is the most popular stock in this table. On the other hand Enbridge Energy Management, L.L.C. (NYSE:EEQ) is the least popular one with only 7 bullish hedge fund positions. HB Fuller Co (NYSE:FUL) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard DRII might be a better candidate to consider a long position.