Comerica Bank Trims Position in Hayward Holdings, Inc. $HAYW

Key Points

• Comerica Bank has reduced its stake in Hayward Holdings, Inc. by 25.9%, selling 18,282 shares and leaving it with a total of 52,437 shares valued at approximately $730,000.
• Several major investors, including MetLife Investment Management LLC and Fiduciary Management Inc., significantly increased their holdings in Hayward during the same period, with MetLife boosting its stake by nearly 34,359.7%.
• Hayward’s stock has been recently rated with a “buy” by Stifel Nicolaus, with the stock price target adjusted from $17.50 to $18.00, while the consensus rating remains at “Hold”.

Comerica Bank lessened its holdings in Hayward Holdings, Inc. (NYSE:HAYW - Free Report) by 25.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,437 shares of the company's stock after selling 18,282 shares during the period. Comerica Bank's holdings in Hayward were worth $730,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of HAYW. Price T Rowe Associates Inc. MD lifted its position in shares of Hayward by 13.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 87,883 shares of the company's stock worth $1,344,000 after purchasing an additional 10,182 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of Hayward by 68.9% during the 4th quarter. Voya Investment Management LLC now owns 31,325 shares of the company's stock worth $479,000 after purchasing an additional 12,778 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Hayward by 4.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 33,680 shares of the company's stock worth $515,000 after purchasing an additional 1,550 shares during the last quarter. Northern Trust Corp lifted its position in shares of Hayward by 6.8% during the 4th quarter. Northern Trust Corp now owns 1,691,769 shares of the company's stock worth $25,867,000 after purchasing an additional 108,337 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Hayward during the 4th quarter worth $538,000.

Insiders Place Their Bets

In other news, CEO Kevin Holleran sold 60,571 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $15.27, for a total value of $924,919.17. Following the completion of the sale, the chief executive officer directly owned 623,540 shares of the company's stock, valued at approximately $9,521,455.80. This represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Eifion Jones sold 20,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $16.50, for a total transaction of $330,000.00. Following the completion of the sale, the chief financial officer directly owned 287,231 shares of the company's stock, valued at $4,739,311.50. The trade was a 6.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,142 shares of company stock valued at $2,347,527. 5.06% of the stock is owned by corporate insiders.

Hayward Stock Performance

HAYW traded down $0.46 on Friday, reaching $15.61. The company had a trading volume of 1,399,412 shares, compared to its average volume of 1,978,288. Hayward Holdings, Inc. has a 1 year low of $11.10 and a 1 year high of $16.87. The stock has a market capitalization of $3.38 billion, a PE ratio of 26.91, a P/E/G ratio of 2.43 and a beta of 1.13. The company has a quick ratio of 2.06, a current ratio of 2.84 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $15.47 and a 200-day moving average price of $14.29.

Hayward (NYSE:HAYW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. Hayward had a net margin of 12.04% and a return on equity of 11.07%. The firm had revenue of $299.60 million during the quarter, compared to analysts' expectations of $291.17 million. During the same period in the previous year, the company earned $0.21 earnings per share. Hayward's quarterly revenue was up 5.3% compared to the same quarter last year. Hayward has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Hayward Holdings, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lifted their price objective on shares of Hayward from $17.50 to $18.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Hayward has a consensus rating of "Hold" and an average price target of $17.50.

Hayward Profile

Hayward Holdings, Inc designs, manufactures, and markets a portfolio of pool equipment and associated automation systems in North America, Europe, and internationally. The company offers pool equipment, including pumps, filters, robotics, suction and pressure cleaners, gas heaters and heat pumps, water features and landscape lighting, water sanitizers, salt chlorine generators, safety equipment, and in-floor automated cleaning systems, as well as LED illumination solutions.