Insider Selling: Headwaters Inc. (HW) General Counsel Sells $44,082.00 in Stock
Headwaters Inc. (NYSE:HW) General Counsel Harlan M. Hatfield sold 1,860 shares of Headwaters stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $23.70, for a total transaction of $44,082.00. Following the completion of the transaction, the general counsel now directly owns 53,868 shares in the company, valued at approximately $1,276,671.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Headwaters Inc. (NYSE:HW) opened at 23.70 on Thursday. The company has a 50 day moving average of $18.68 and a 200 day moving average of $18.37. Headwaters Inc. has a 1-year low of $13.62 and a 1-year high of $23.99. The firm has a market capitalization of $1.75 billion, a PE ratio of 36.97 and a beta of 1.49.
Headwaters (NYSE:HW) last issued its earnings results on Tuesday, November 1st. The company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The firm earned $291.60 million during the quarter, compared to analyst estimates of $303.81 million. Headwaters had a net margin of 4.93% and a return on equity of 30.41%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $0.40 EPS. Analysts forecast that Headwaters Inc. will post $1.40 EPS for the current year.
Several analysts have weighed in on the stock. Jefferies Group assumed coverage on shares of Headwaters in a research report on Tuesday, September 13th. They set a “buy” rating and a $21.00 target price on the stock. Canaccord Genuity downgraded shares of Headwaters from a “buy” rating to a “hold” rating and boosted their target price for the stock from $23.50 to $24.25 in a research report on Monday, November 21st. Avondale Partners downgraded shares of Headwaters from an “outperform” rating to a “market perform” rating in a research report on Monday, November 21st. DA Davidson downgraded shares of Headwaters from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $24.00 to $24.25 in a research report on Tuesday, November 22nd. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Headwaters in a research report on Wednesday, November 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $22.68.
Hedge funds have recently modified their holdings of the stock. Fort Pitt Capital Group LLC raised its position in shares of Headwaters by 10.0% in the second quarter. Fort Pitt Capital Group LLC now owns 1,315,321 shares of the company’s stock valued at $23,597,000 after buying an additional 119,271 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of Headwaters by 36.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 950,807 shares of the company’s stock valued at $17,057,000 after buying an additional 253,350 shares in the last quarter. Capital Fund Management S.A. bought a new position in shares of Headwaters during the second quarter valued at approximately $229,000. First Trust Advisors LP raised its position in shares of Headwaters by 186.4% in the second quarter. First Trust Advisors LP now owns 71,711 shares of the company’s stock valued at $1,286,000 after buying an additional 46,672 shares in the last quarter. Finally, Emerald Advisers Inc. PA raised its position in shares of Headwaters by 34.0% in the second quarter. Emerald Advisers Inc. PA now owns 904,624 shares of the company’s stock valued at $16,229,000 after buying an additional 229,351 shares in the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.
Headwaters Company Profile
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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