Turtle Creek Asset Management buys 61,000 shares of JELD-WEN Holding, Inc. (NYSE: JELD)

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Major shareholder of JELD-WEN Holding, Inc. (NYSE: JELD – Get Rating), Turtle Creek Asset Management, purchased 61,000 shares of JELD-WEN in a transaction on Friday, October 7. The shares were purchased at an average price of $9.08 per share, for a total transaction of $553,880.00. Following the completion of the acquisition, the insider now owns 11,570,980 shares of the company, valued at approximately $105,064,498.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Large shareholders who own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Turtle Creek Asset Management also recently completed the following transactions:

  • On Wednesday, October 5, Turtle Creek Asset Management purchased 90,050 shares of JELD-WEN. The shares were purchased at an average price of $9.58 per share, for a total transaction of $862,679.00.
  • On Thursday, September 22, Turtle Creek Asset Management purchased 2,250 shares of JELD-WEN. The stock was purchased at an average price of $9.49 per share, for a total transaction of $21,352.50.
  • On Thursday, September 15, Turtle Creek Asset Management purchased 17,800 shares of JELD-WEN. The shares were purchased at an average price of $9.98 per share, for a total transaction of $177,644.00.
  • On Thursday, August 25, Turtle Creek Asset Management acquired 11,000 shares of JELD-WEN. The shares were purchased at an average cost of $12.44 per share, with a total value of $136,840.00.
  • On Monday, August 22, Turtle Creek Asset Management acquired 12,500 shares of JELD-WEN. The shares were purchased at an average cost of $12.46 per share, with a total value of $155,750.00.
  • On Thursday, August 18, Turtle Creek Asset Management acquired 2,200 shares of JELD-WEN. The shares were purchased at an average cost of $13.33 per share, with a total value of $29,326.00.
  • On Thursday, August 4, Turtle Creek Asset Management acquired 17,400 shares of JELD-WEN. The shares were purchased at an average cost of $15.20 per share, with a total value of $264,480.00.
  • On Monday, August 1, Turtle Creek Asset Management acquired 29,763 shares of JELD-WEN. The shares were purchased at an average cost of $14.33 per share, with a total value of $426,503.79.

JELD-WEN Stock down 4.3%

NYSE: JELD was down $0.41 during Friday trading hours, hitting $9.05. The stock had a trading volume of 1,253,669 shares, compared to an average volume of 1,026,299. The company has a current ratio of 2.14, a quick ratio of 1.33 and a debt ratio of 2, 54. JELD-WEN Holding, Inc. has a 1-year low of $8.63 and a 1-year high of $28.30. The company has a 50-day simple moving average of $11.45 and a two-hundred-day simple moving average of $15.74. The company has a market capitalization of $762.54 million, a PE ratio of 6.61 and a beta of 2.27.

JELD-WEN (NYSE:JELD – Get Rating) last released quarterly earnings data on Monday, August 1. The company reported earnings per share (EPS) of $0.57 for the quarter, missing the consensus estimate of $0.69 per ($0.12). The company posted revenue of $1.33 billion in the quarter, compared to analysts’ estimates of $1.33 billion. JELD-WEN achieved a net margin of 2.59% and a return on equity of 19.00%. The company’s revenue increased by 6.8% compared to the same quarter last year. During the same period last year, the company achieved EPS of $0.59. Analysts predict that JELD-WEN Holding, Inc. will post 1.66 EPS for the current year.

Hedge funds weigh on JELD-WEN

Several institutional investors and hedge funds have recently changed their positions in JELD. Point72 Hong Kong Ltd bought a new position in JELD-WEN shares during the 4th quarter worth approximately $26,000. CIBC World Markets Inc. bought a new position in JELD-WEN during the fourth quarter worth $943,000. Levin Capital Strategies LP acquired a new position in JELD-WEN during the fourth quarter at a value of $264,000. Barclays PLC increased its stake in JELD-WEN by 48.4% during the fourth quarter. Barclays PLC now owns 178,222 shares in the company worth $4,697,000 after buying a further 58,106 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in JELD-WEN by 2.8% during the first quarter. Nordea Investment Management AB now owns 271,398 shares of the company worth $5,732,000 after purchasing an additional 7,393 shares in the last quarter. 99.54% of the shares are currently held by hedge funds and other institutional investors.

A Wall Street analyst gives his opinion

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage for JELD-WEN shares in a Wednesday, August 17, research note. They set a “hold” rating and a price target of $15.00 for the company. Credit Suisse Group lowered its price target on JELD-WEN shares from $24.00 to $20.00 and set an “outperform” rating for the company in a Monday, August 15 research report. UBS Group lowered its price target on JELD-WEN shares from $35.00 to $21.00 and set a “buy” rating for the company in a Tuesday, August 2 research report. Barclays downgraded JELD-WEN shares from an “overweight” rating to an “equally weighted” rating and lowered its target price for the stock from $25.00 to $17.00 in a Thursday research report July 14th. Finally, Goldman Sachs Group lowered its price target on JELD-WEN shares from $21.00 to $16.00 and set a “neutral” rating for the company in a Thursday, June 23 research report. Two investment analysts have assigned the stock a sell rating, eight have issued a hold rating and two have assigned the company’s stock a buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $17.33.

About JELD-WEN

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JELD-WEN Holding, Inc designs, manufactures and sells doors and windows primarily in North America, Europe and Australasia. The company offers a range of residential interior and exterior door products, including patio doors and folding or sliding wall systems; non-residential doors; and wood, vinyl, aluminum and wood composite windows.

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