Headwaters Inc. (HW) Short Interest Update
Headwaters Inc. (NYSE:HW) saw a significant drop in short interest in September. As of September 15th, there was short interest totalling 1,780,166 shares, a drop of 35.3% from the August 31st total of 2,752,214 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average trading volume of 843,252 shares, the short-interest ratio is presently 2.1 days.
Headwaters (NYSE:HW) opened at 16.65 on Tuesday. The company’s 50 day moving average is $17.74 and its 200 day moving average is $18.68. The stock has a market cap of $1.23 billion, a PE ratio of 7.88 and a beta of 1.53. Headwaters has a one year low of $13.62 and a one year high of $21.25.
Headwaters (NYSE:HW) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.38 by $0.08. Headwaters had a return on equity of 34.50% and a net margin of 16.60%. The firm had revenue of $262.50 million for the quarter, compared to analyst estimates of $276.83 million. During the same quarter last year, the firm earned $0.30 EPS. The company’s revenue was up 7.9% on a year-over-year basis. On average, equities research analysts expect that Headwaters will post $1.14 EPS for the current year.
A number of research firms have issued reports on HW. CL King cut shares of Headwaters from a “buy” rating to a “neutral” rating in a report on Tuesday, August 9th. Zacks Investment Research cut shares of Headwaters from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Wedbush reaffirmed a “hold” rating and issued a $21.00 price target on shares of Headwaters in a report on Monday, July 11th. Canaccord Genuity reaffirmed a “buy” rating and issued a $23.50 price target on shares of Headwaters in a report on Thursday, August 4th. Finally, Deutsche Bank AG raised their price target on shares of Headwaters from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Headwaters currently has a consensus rating of “Buy” and an average price target of $22.21.
In other Headwaters news, insider Bob L. Whisnant sold 32,890 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $19.02, for a total value of $625,567.80. Following the completion of the transaction, the insider now owns 6,046 shares of the company’s stock, valued at $114,994.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director R Sam Christensen purchased 5,706 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was bought at an average cost of $19.05 per share, with a total value of $108,699.30. The disclosure for this purchase can be found here. 6.40% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors boosted its position in Headwaters by 2.0% in the second quarter. BlackRock Fund Advisors now owns 4,648,471 shares of the company’s stock valued at $83,394,000 after buying an additional 91,040 shares during the period. Vanguard Group Inc. boosted its position in Headwaters by 2.5% in the second quarter. Vanguard Group Inc. now owns 4,530,501 shares of the company’s stock valued at $81,276,000 after buying an additional 111,090 shares during the period. Dimensional Fund Advisors LP boosted its position in Headwaters by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,814,631 shares of the company’s stock valued at $50,493,000 after buying an additional 46,587 shares during the period. Victory Capital Management Inc. boosted its position in Headwaters by 6.6% in the second quarter. Victory Capital Management Inc. now owns 2,243,288 shares of the company’s stock valued at $40,245,000 after buying an additional 139,247 shares during the period. Finally, Glenmede Trust Co. NA boosted its position in Headwaters by 397.9% in the second quarter. Glenmede Trust Co. NA now owns 1,652,805 shares of the company’s stock valued at $29,650,000 after buying an additional 1,320,846 shares during the period. Institutional investors own 91.27% of the company’s stock.
Headwaters Incorporated is a building materials company. The Company’s segments include building products, construction materials and energy technology. Its building products segment consists of product sales to wholesale and retail distributors, contractors and other users of building products. Its construction materials segment consists of coal combustion products (CCP) sales to ready-mix concrete businesses, with a smaller amount from services provided to coal-fueled electric generating utilities.
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