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HB Fuller falls after 4Q earnings miss view

NEW YORK (AP) -- Shares of H.B. Fuller dropped Thursday as the adhesives provider's fiscal fourth-quarter adjusted earnings missed analysts' estimates.

On Wednesday the company reported adjusted earnings of 68 cents per share on revenue of $533.5 million. Analysts polled by FactSet predicted earnings of 74 cents per share on revenue of $525.5 million.

H.B. Fuller Co. also provided a 2014 adjusted earnings outlook between $3 and $3.15 per share. Wall Street is looking for $3.15 per share.

Michael J. Sison of KeyBanc Capital Markets said in a client note that even though H.B. Fuller's fourth-quarter adjusted earnings fell short of analysts' expectations, its full-year earnings climbed 17 percent and was within range of the company's original projection.

The analyst said he was also pleased to see a good rise in organic sales in the quarter and a 2014 outlook that appears to show evidence that actions including cost savings efforts and an overall strategy to improve profitability are adding value.

Sison kept a "Buy" rating, saying it was based on H.B. Fuller's strong 2013 and his forecast for the business to have another year of margin expansion and strong earnings growth.

H.B. Fuller's stock fell $3.14, or 6 percent, to $49.41 in morning trading. The shares are up 43 percent in the past year.