Mutual of America Capital Management LLC Sells 84,599 Shares of Janus International Group, Inc. (NYSE:JBI)

Key Points

• Mutual of America Capital Management LLC reduced its stake in Janus International Group by 12.3%, owning 604,417 shares worth $4.35 million after selling 84,599 shares in Q1.
• Analysts have raised price targets for Janus International Group, with UBS increasing theirs from $9.00 to $10.00 and KeyCorp from $10.00 to $12.00, reflecting a positive outlook on the stock.
• Janus International Group reported earnings of $0.20 per share, exceeding expectations, despite an 8.2% year-over-year decline in revenue, indicating challenges in the market.

Mutual of America Capital Management LLC lessened its position in Janus International Group, Inc. (NYSE:JBI - Free Report) by 12.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 604,417 shares of the company's stock after selling 84,599 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.43% of Janus International Group worth $4,352,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. lifted its stake in shares of Janus International Group by 109.3% in 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 stake 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 valued at $38,000 after purchasing an additional 1,544 shares during the period. Group One Trading LLC lifted its stake in shares of Janus International Group by 9,000.0% in the 4th quarter. Group One Trading LLC now owns 9,100 shares of the company's stock valued at $67,000 after purchasing an additional 9,000 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Janus International Group in the 1st quarter valued at approximately $72,000. Finally, Wexford Capital LP purchased a new position in shares of Janus International Group in the 4th quarter valued at approximately $95,000. Hedge funds and other institutional investors own 88.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on JBI. KeyCorp raised their target price on Janus International Group from $10.00 to $12.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. UBS Group lifted their price objective on Janus International Group from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded Janus International Group from a "hold" rating to a "buy" rating in a research note on Saturday.

Janus International Group Stock Up 4.4%

NYSE:JBI traded up $0.45 during trading hours on Wednesday, reaching $10.47. 450,122 shares of the company traded hands, compared to its average volume of 1,385,677. The stock has a market capitalization of $1.47 billion, a P/E ratio of 33.69 and a beta of 1.25. The business's 50-day moving average price is $8.68 and its two-hundred day moving average price is $8.05. Janus International Group, Inc. has a 1 year low of $5.99 and a 1 year high of $11.49. The company has a current ratio of 2.61, a quick ratio of 2.26 and a debt-to-equity ratio of 1.00.

Janus International Group (NYSE:JBI - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.05. The business had revenue of $228.10 million during the quarter, compared to analyst estimates of $216.99 million. Janus International Group had a return on equity of 13.10% and a net margin of 4.85%. The company's quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 EPS. Analysts predict that Janus International Group, Inc. will post 0.54 earnings per share for the current year.

Janus International Group announced that its board has approved a share buyback program on Thursday, May 15th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

About Janus International Group

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.