Headwaters Inc. (HW) Position Cut by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA cut its stake in shares of Headwaters Inc. (NYSE:HW) by 53.8% during the third quarter, Holdings Channel reports. The fund owned 10,686 shares of the company’s stock after selling 12,431 shares during the period. BNP Paribas Arbitrage SA’s holdings in Headwaters were worth $181,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. 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. Copper Rock Capital Partners LLC bought a new position in Headwaters during the second quarter valued at $23,353,000. Mesirow Financial Investment Management Equity Management bought a new position in Headwaters during the second quarter valued at $18,491,000. Penn Capital Management Co. Inc. bought a new position in Headwaters during the second quarter valued at $11,529,000. Finally, Teachers Advisors Inc. boosted its position in Headwaters by 487.0% in the first quarter. Teachers Advisors Inc. now owns 666,190 shares of the company’s stock valued at $13,217,000 after buying an additional 552,700 shares during the period. 91.27% of the stock is owned by hedge funds and other institutional investors.
Shares of Headwaters Inc. (NYSE:HW) opened at 16.61 on Friday. The firm has a 50-day moving average of $17.43 and a 200-day moving average of $18.62. The firm has a market cap of $1.23 billion, a PE ratio of 7.86 and a beta of 1.53. Headwaters Inc. has a 52 week low of $13.62 and a 52 week high of $21.25.
Headwaters (NYSE:HW) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.38 by $0.08. The company earned $262.50 million during the quarter, compared to the consensus estimate of $276.83 million. Headwaters had a net margin of 16.60% and a return on equity of 34.50%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 EPS. On average, analysts expect that Headwaters Inc. will post $1.14 EPS for the current year.
Several research analysts recently commented on the stock. Jefferies Group assumed coverage on shares of Headwaters in a report on Tuesday, September 13th. They set a “buy” rating and a $21.00 target price for the company. 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. Canaccord Genuity restated a “buy” rating and set a $23.50 target price on shares of Headwaters in a report on Thursday, August 4th. Finally, Deutsche Bank AG increased their target price 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 investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $22.21.
In other news, insider Bob L. Whisnant sold 32,890 shares of Headwaters 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 sale, the insider now owns 6,046 shares in the company, valued at approximately $114,994.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Sam Christensen acquired 5,706 shares of the stock in a transaction dated Monday, August 8th. The stock was bought at an average price 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 insiders.
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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