PGT Inc. (PGTI) Stake Increased by Hood River Capital Management LLC
Hood River Capital Management LLC boosted its stake in shares of PGT Inc. (NASDAQ:PGTI) by 2.3% during the second quarter, Holdings Channel reports. The institutional investor owned 862,845 shares of the company’s stock after buying an additional 19,088 shares during the period. Hood River Capital Management LLC’s holdings in PGT were worth $8,887,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System increased its position in shares of PGT by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 21,600 shares of the company’s stock valued at $222,000 after buying an additional 100 shares in the last quarter. National Investment Services Inc. WI increased its position in PGT by 116.4% in the second quarter. National Investment Services Inc. WI now owns 24,774 shares of the company’s stock valued at $255,000 after buying an additional 13,324 shares during the period. Bank of Montreal Can bought a new position in PGT during the second quarter valued at approximately $1,825,000. Palo Capital Inc. bought a new position in PGT during the second quarter valued at approximately $394,000. Finally, Corbyn Investment Management Inc. MD increased its position in PGT by 39.5% in the second quarter. Corbyn Investment Management Inc. MD now owns 188,084 shares of the company’s stock valued at $1,937,000 after buying an additional 53,268 shares during the period. 95.74% of the stock is currently owned by institutional investors and hedge funds.
PGT Inc. (NASDAQ:PGTI) traded up 9.32% during midday trading on Thursday, reaching $11.73. 2,045,113 shares of the company were exchanged. PGT Inc. has a 52 week low of $8.69 and a 52 week high of $14.05. The firm’s 50 day moving average price is $11.34 and its 200-day moving average price is $10.83. The stock has a market capitalization of $574.12 million, a P/E ratio of 31.70 and a beta of 0.85.
PGT (NASDAQ:PGTI) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.15 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. PGT had a net margin of 4.59% and a return on equity of 23.68%. The company had revenue of $119 million for the quarter, compared to the consensus estimate of $124.29 million. During the same quarter in the prior year, the company earned $0.17 EPS. PGT’s quarterly revenue was up 18.1% on a year-over-year basis. Equities analysts forecast that PGT Inc. will post $0.54 EPS for the current fiscal year.
Several research firms have recently commented on PGTI. Zacks Investment Research raised shares of PGT from a “sell” rating to a “hold” rating and set a $13.00 target price on the stock in a report on Thursday, July 7th. FBR & Co reissued a “buy” rating on shares of PGT in a report on Monday, August 8th. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. PGT currently has a consensus rating of “Buy” and a consensus target price of $13.93.
In other news, CEO Rodney Hershberger sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $11.24, for a total transaction of $1,124,000.00. Following the sale, the chief executive officer now owns 1,058,343 shares of the company’s stock, valued at approximately $11,895,775.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.50% of the stock is currently owned by corporate insiders.
PGT Company Profile
PGT, Inc is a manufacturer and supplier of residential impact-resistant windows and doors. The Company operates through the manufacture and sale of windows and doors segment. The Company’s impact-resistant products are marketed under the WinGuard, PremierVue, PGT Architectural Systems and PGT Commercial Storefront System brand names, combine heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris.
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