Federated Hermes Inc. Grows Position in JELD-WEN Holding, Inc. (NYSE:JELD)

Key Points

• Federated Hermes Inc. significantly increased its stake in JELD-WEN Holding, Inc. by 868.6% during the first quarter, acquiring a total of 1,394,425 shares valued at approximately $8.3 million.
• Insider trading showed Turtle Creek Asset Management acquiring 150,000 shares at an average price of $4.26 per share, increasing its ownership to about 13.25 million shares valued at over $56 million.
• JELD-WEN reported a quarterly loss of ($0.17) EPS but beat analyst estimates and had revenue of $776 million, down 19.1% year-over-year, while analysts generally rate the stock as a "Hold".

Federated Hermes Inc. grew its position in shares of JELD-WEN Holding, Inc. (NYSE:JELD - Free Report) by 868.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,394,425 shares of the company's stock after purchasing an additional 1,250,456 shares during the period. Federated Hermes Inc. owned approximately 1.63% of JELD-WEN worth $8,325,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in JELD-WEN in the fourth quarter worth $455,000. KLP Kapitalforvaltning AS bought a new stake in JELD-WEN in the fourth quarter worth $123,000. Vanguard Group Inc. lifted its stake in JELD-WEN by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,545,071 shares of the company's stock worth $69,984,000 after purchasing an additional 101,944 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in JELD-WEN by 64.0% in the fourth quarter. JPMorgan Chase & Co. now owns 213,281 shares of the company's stock worth $1,747,000 after purchasing an additional 83,203 shares during the last quarter. Finally, Norges Bank bought a new stake in JELD-WEN in the fourth quarter worth $1,694,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at JELD-WEN

In related news, major shareholder Turtle Creek Asset Management acquired 150,000 shares of the 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 transaction, the insider directly owned 13,250,853 shares in the company, valued at approximately $56,448,633.78. This represents a 1.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.24% of the company's stock.

JELD-WEN Price Performance

NYSE JELD traded down $0.09 on Monday, reaching $4.45. The company had a trading volume of 802,775 shares, compared to its average volume of 1,371,173. The company has a quick ratio of 1.12, a current ratio of 1.87 and a debt-to-equity ratio of 2.56. The stock has a market capitalization of $379.47 million, a PE ratio of 17.42 and a beta of 1.65. The firm's 50 day moving average price is $4.14 and its 200 day moving average price is $5.51. JELD-WEN Holding, Inc. has a 12 month low of $3.27 and a 12 month high of $16.43.

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

Analyst Upgrades and Downgrades

JELD has been the topic of a number of analyst reports. UBS Group decreased their price objective on shares of JELD-WEN from $7.50 to $5.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Barclays decreased their price objective on shares of JELD-WEN from $5.00 to $4.50 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Royal Bank Of Canada decreased their price objective on shares of JELD-WEN from $5.00 to $2.00 and set an "underperform" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen cut shares of JELD-WEN from a "hold" rating to a "sell" rating in a research report on Wednesday, May 14th. Finally, The Goldman Sachs Group decreased their price objective on shares of JELD-WEN from $6.00 to $5.25 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $7.34.

JELD-WEN Company Profile

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.