Northern Trust Corp Has $9.47 Million Stock Position in Janus International Group, Inc. $JBI

Key Points

• Northern Trust Corp reduced its stake in Janus International Group by 2.7%, selling 36,794 shares and retaining 1,314,925 shares valued at approximately $9.47 million.
• Janus International Group reported earnings of $0.20 per share, which exceeded analysts' expectations, despite an 8.2% decline in revenue year-over-year.
• The company has initiated a stock repurchase plan allowing the repurchase of up to $75 million in stock, signaling potential confidence from management in the stock’s valuation.

Northern Trust Corp cut its holdings in shares of Janus International Group, Inc. (NYSE:JBI - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,314,925 shares of the company's stock after selling 36,794 shares during the quarter. Northern Trust Corp owned about 0.94% of Janus International Group worth $9,467,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of JBI. Tower Research Capital LLC TRC increased its position in Janus International Group by 42.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,146 shares of the company's stock worth $38,000 after acquiring an additional 1,544 shares during the period. Group One Trading LLC increased its position in 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 acquiring an additional 9,000 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in Janus International Group during the first quarter worth $72,000. CWM LLC increased its position in Janus International Group by 571.1% during the first quarter. CWM LLC now owns 11,012 shares of the company's stock worth $79,000 after acquiring an additional 9,371 shares during the period. Finally, Wexford Capital LP bought a new position in Janus International Group during the fourth quarter worth $95,000. 88.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Janus International Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. KeyCorp lifted their price target on shares of Janus International Group from $10.00 to $12.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. UBS Group lifted their price target on shares of Janus International Group from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Finally, Jefferies Financial Group lifted their price target on shares of Janus International Group from $9.00 to $10.00 and gave the stock a "hold" rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Janus International Group presently has a consensus rating of "Hold" and an average price target of $10.67.

Janus International Group Price Performance

Shares of NYSE:JBI traded down $0.21 on Tuesday, hitting $10.00. The stock had a trading volume of 727,454 shares, compared to its average volume of 1,341,202. Janus International Group, Inc. has a twelve month low of $5.99 and a twelve month high of $10.73. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.26 and a current ratio of 2.61. The firm's 50 day moving average price is $9.48 and its 200-day moving average price is $8.33. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 32.26 and a beta of 1.31.

Janus International Group (NYSE:JBI - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.15 by $0.05. Janus International Group had a net margin of 4.85% and a return on equity of 13.10%. The company had revenue of $228.10 million for the quarter, compared to the consensus estimate of $216.99 million. During the same quarter in the previous year, the company earned $0.21 EPS. The firm's revenue for the quarter was down 8.2% compared to the same quarter last year. Janus International Group has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Janus International Group, Inc. will post 0.54 earnings per share for the current year.

Janus International Group declared that its Board of Directors has initiated a stock buyback program on Thursday, May 15th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership 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.