Texas Permanent School Fund Corp Lowers Stake in Hawkins, Inc. (NASDAQ:HWKN)

The Texas Permanent School Fund Corp (TPSFC) has recently lowered its stake in Hawkins, Inc. NASDAQHWKN. This news was announced on May 19th, 2023, and it is a significant development for both the company and its investors.

Hawkins, Inc. is a leading provider of water solutions in North America, with operations in the United States, Canada, and Mexico. The company operates through two segments: Water Solutions and Energy Services. The Water Solutions segment provides water treatment and delivery services to municipal, industrial, and agricultural customers, while the Energy Services segment provides oil and gas production and midstream services.

The TPSFC is a state-owned investment fund that manages the endowment of the Texas public schools. It invests in various assets, including stocks, bonds, real estate, and private equity, with the goal of generating returns to support the education system in Texas.

According to a filing with the Securities and Exchange Commission (SEC), the TPSFC sold approximately 1.5 million shares of Hawkins, Inc.'s common stock for $20.7 million, reducing its stake in the company from 4.9% to 3.8%. The sale was made for investment purposes, and the fund may purchase additional shares of the company's stock in the future.

The reasons behind the TPSFC's decision to sell its stake in Hawkins, Inc. are not immediately clear. However, it is possible that the fund has decided to diversify its portfolio or reduce its exposure to certain sectors or industries. It is also possible that the fund has identified other investment opportunities that offer better returns or align more closely with its investment objectives.

Overall, the TPSFC's decision to sell its stake in Hawkins, Inc. is a significant development for both the company and its investors. It remains to be seen how this news will impact the stock price and the broader market for water solutions providers in North America.