Shares of Hawkins, Inc. ( HWKN) of Minneapolis closed at $39.90 Tuesday, down 9% year-to-date. The company distributes bulk chemicals and blends. Its industrial segment distributes various chemicals and manufactures bleach and agricultural products mainly for customers in Wisconsin, Minnesota, Iowa, and North and South Dakota, while distributing food-grade products nationally. The water treatment segment provides chemicals, and equipment via delivery routes, serving customers in Midwestern states, as well as in Montana and Wyoming. CEO John Hawkins passed away on March 11, and Patrick Hawkins - an 18-year employee of the company - was named as the new CEO. On January 14, Hawkins acquired Vertex Chemical -- a manufacturer of sodium hypochlorite -- for $25.5 million. For the fiscal third quarter ended December 31, Hawkins reported net income of $4.3 million, or 41 cents a share, declining from $5.6 million, or 54 cents a share a year earlier. Despite a 16.5% increase in sales year-over-year to $70.6 million in the fiscal third quarter, profit declined because of a rise in raw material costs.