Federated Hermes Inc. Purchases 1,250,456 Shares of 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. increased its position in shares of JELD-WEN Holding, Inc. (NYSE:JELD - Free Report) by 868.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,394,425 shares of the company's stock after buying an additional 1,250,456 shares during the period. Federated Hermes Inc. owned 1.63% of JELD-WEN worth $8,325,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in JELD. Leavell Investment Management Inc. boosted its position in JELD-WEN by 14.0% during the first quarter. Leavell Investment Management Inc. now owns 17,107 shares of the company's stock worth $102,000 after purchasing an additional 2,107 shares during the period. MetLife Investment Management LLC lifted its position in JELD-WEN by 6.3% during the fourth quarter. MetLife Investment Management LLC now owns 51,911 shares of the company's stock worth $425,000 after purchasing an additional 3,066 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of JELD-WEN by 10.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 50,261 shares of the company's stock worth $412,000 after acquiring an additional 4,944 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of JELD-WEN by 28.4% in the fourth quarter. Rafferty Asset Management LLC now owns 24,574 shares of the company's stock worth $201,000 after acquiring an additional 5,434 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of JELD-WEN by 15.2% in the fourth quarter. BNP Paribas Financial Markets now owns 41,768 shares of the company's stock worth $342,000 after acquiring an additional 5,519 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

JELD-WEN Trading Up 21.0%

JELD stock traded up $0.98 during midday trading on Wednesday, hitting $5.62. The company had a trading volume of 2,940,807 shares, compared to its average volume of 1,561,453. The company has a current ratio of 1.87, a quick ratio of 1.12 and a debt-to-equity ratio of 2.56. JELD-WEN Holding, Inc. has a 52 week low of $3.27 and a 52 week high of $16.43. The stock's 50 day moving average price is $4.18 and its 200 day moving average price is $5.47. The stock has a market cap of $479.35 million, a price-to-earnings ratio of -1.40 and a beta of 1.65.

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

Analysts Set New Price Targets

A number of research firms have weighed in on JELD. 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 report on Wednesday, May 7th. The Goldman Sachs Group reduced their price target on shares of JELD-WEN from $6.00 to $5.25 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Loop Capital reduced their price target on shares of JELD-WEN from $8.00 to $4.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. UBS Group dropped their price objective on JELD-WEN from $7.50 to $5.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, Barclays lowered their target price on JELD-WEN from $5.00 to $4.50 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, JELD-WEN presently has an average rating of "Hold" and a consensus 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.