Alberta Investment Management Corp Increases Stake in JELD-WEN Holding, Inc. (NYSE:JELD)

Key Points

• Alberta Investment Management Corp increased its stake in JELD-WEN Holding, Inc. by 43.1%, acquiring an additional 500,000 shares, bringing its total ownership to 1,659,000 shares valued at approximately $9.9 million.
• Several institutional investors, including Federated Hermes Inc. and Turtle Creek Asset Management, have significantly adjusted their positions in JELD-WEN, with total institutional ownership now at 95.04%.
• Analysts have recently downgraded JELD-WEN, with some lowering their price targets; the consensus rating on the stock is now a "hold" with a target price of $7.34.

Alberta Investment Management Corp boosted its position in shares of JELD-WEN Holding, Inc. (NYSE:JELD - Free Report) by 43.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,659,000 shares of the company's stock after acquiring an additional 500,000 shares during the period. Alberta Investment Management Corp owned about 1.94% of JELD-WEN worth $9,904,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of JELD. XTX Topco Ltd raised its holdings in JELD-WEN by 280.3% during the first quarter. XTX Topco Ltd now owns 61,814 shares of the company's stock worth $369,000 after purchasing an additional 45,558 shares in the last quarter. Federated Hermes Inc. raised its stake in JELD-WEN by 868.6% during the 1st quarter. Federated Hermes Inc. now owns 1,394,425 shares of the company's stock worth $8,325,000 after acquiring an additional 1,250,456 shares in the last quarter. Allianz Asset Management GmbH raised its stake in JELD-WEN by 18.3% during the 1st quarter. Allianz Asset Management GmbH now owns 193,156 shares of the company's stock worth $1,153,000 after acquiring an additional 29,813 shares in the last quarter. Cable Hill Partners LLC boosted its stake in JELD-WEN by 37.7% in the first quarter. Cable Hill Partners LLC now owns 49,611 shares of the company's stock valued at $274,000 after acquiring an additional 13,570 shares in the last quarter. Finally, CWM LLC boosted its stake in JELD-WEN by 2,140.2% in the first quarter. CWM LLC now owns 6,407 shares of the company's stock valued at $38,000 after acquiring an additional 6,121 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on JELD. Wall Street Zen downgraded shares of JELD-WEN from a "hold" rating to a "sell" rating in a research note on Wednesday, May 14th. The Goldman Sachs Group decreased their price objective on shares of JELD-WEN from $6.00 to $5.25 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Loop Capital dropped their price objective on shares of JELD-WEN from $8.00 to $4.00 and set a "hold" rating on the stock in a research note on Thursday, May 8th. Royal Bank Of Canada decreased their target price on shares of JELD-WEN from $5.00 to $2.00 and set an "underperform" rating for the company in a research note on Wednesday, May 7th. Finally, UBS Group dropped their price target on JELD-WEN from $7.50 to $5.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $7.34.

Insider Transactions at JELD-WEN

In related news, major shareholder Turtle Creek Asset Management bought 150,000 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was bought at an average cost of $4.26 per share, with a total value of $639,000.00. Following the completion of the acquisition, the insider owned 13,250,853 shares in the company, valued at approximately $56,448,633.78. This represents a 1.14% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.24% of the stock is owned by corporate insiders.

JELD-WEN Stock Performance

NYSE JELD traded down $0.09 during trading hours on Monday, hitting $4.45. 802,775 shares of the stock were exchanged, compared to its average volume of 1,371,173. The company has a market cap of $379.47 million, a price-to-earnings ratio of -1.10 and a beta of 1.65. JELD-WEN Holding, Inc. has a 12-month low of $3.27 and a 12-month high of $16.43. The stock has a 50-day moving average of $4.16 and a 200 day moving average of $5.48. The company has a quick ratio of 1.12, a current ratio of 1.87 and a debt-to-equity ratio of 2.56.

JELD-WEN (NYSE:JELD - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.02. The firm had revenue of $776.00 million during the quarter, compared to analysts' expectations of $769.25 million. JELD-WEN had a negative net margin of 9.49% and a positive return on equity of 3.70%. The firm's revenue for the quarter was down 19.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. As a group, equities research analysts forecast that JELD-WEN Holding, Inc. will post 0.88 earnings per share for the current year.

About JELD-WEN

JELD-WEN Holding, Inc designs, manufactures, and sells wood, metal, and composite materials doors, windows, and related building products in North America and Europe. The company offers a line of residential interior and exterior door products, including patio doors, and folding or sliding wall systems; non-residential doors; stile and rail doors; and wood, vinyl, and wood composite windows.