Allspring Global Investments Holdings LLC Sells 151,739 Shares of Janus International Group, Inc. (NYSE:JBI)

Allspring Global Investments Holdings LLC trimmed its stake in shares of Janus International Group, Inc. (NYSE:JBI - Free Report) by 4.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,970,228 shares of the company's stock after selling 151,739 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 2.12% of Janus International Group worth $21,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in JBI. Federated Hermes Inc. increased its position in Janus International Group by 109.3% during the 4th quarter. Federated Hermes Inc. now owns 4,798 shares of the company's stock valued at $35,000 after purchasing an additional 2,506 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Janus International Group by 42.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,146 shares of the company's stock worth $38,000 after purchasing an additional 1,544 shares during the period. US Bancorp DE boosted its stake in shares of Janus International Group by 108.8% in the 4th quarter. US Bancorp DE now owns 5,601 shares of the company's stock valued at $41,000 after purchasing an additional 2,918 shares during the last quarter. Group One Trading LLC increased its position in shares of Janus International Group by 9,000.0% during the fourth quarter. Group One Trading LLC now owns 9,100 shares of the company's stock worth $67,000 after buying an additional 9,000 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Janus International Group during the first quarter worth $72,000. 88.78% of the stock is owned by institutional investors and hedge funds.

Janus International Group Trading Up 0.1%

NYSE JBI traded up $0.01 during trading hours on Thursday, hitting $8.99. 516,221 shares of the company's stock were exchanged, compared to its average volume of 1,883,605. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 25.69 and a beta of 1.24. The stock has a 50-day simple moving average of $8.07 and a 200 day simple moving average of $7.75. The company has a current ratio of 2.59, a quick ratio of 2.21 and a debt-to-equity ratio of 1.03. Janus International Group, Inc. has a 1-year low of $5.99 and a 1-year high of $15.24.

Janus International Group (NYSE:JBI - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.05. The firm had revenue of $210.50 million for the quarter, compared to analysts' expectations of $200.73 million. Janus International Group had a return on equity of 13.38% and a net margin of 5.49%. The company's revenue for the quarter was down 17.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 EPS. On average, equities analysts forecast that Janus International Group, Inc. will post 0.54 EPS for the current fiscal year.

Janus International Group announced that its board has authorized a stock repurchase plan on Thursday, May 15th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Separately, KeyCorp boosted their target price on shares of Janus International Group from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $10.00.

Janus International Group Profile

Janus International Group, Inc manufacturers and supplies turn-key self-storage, and commercial and industrial building solutions in North America and internationally. The company offers roll up and swing doors, hallway systems, relocatable storage moveable additional storage structures units, and other solutions.