Wellington Management Group LLP Lowers Stock Position in Janus International Group, Inc. $JBI

Key Points

• Wellington Management Group LLP significantly reduced its stake in Janus International Group by 82.1%, owning 818,831 shares after selling over 3.7 million shares in the first quarter.
• Janus International Group's stock received several target price increases from analysts, with UBS and Jefferies raising their targets to $10.00 and KeyCorp increasing it to $12.00, indicating positive sentiment.
• Despite reporting a revenue decline of 8.2% year-over-year, Janus exceeded earnings expectations, posting $0.20 earnings per share against a consensus estimate of $0.15.

Wellington Management Group LLP cut its stake in Janus International Group, Inc. (NYSE:JBI - Free Report) by 82.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 818,831 shares of the company's stock after selling 3,767,077 shares during the period. Wellington Management Group LLP owned approximately 0.58% of Janus International Group worth $5,896,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in Janus International Group by 914.9% in the first quarter. American Century Companies Inc. now owns 3,633,684 shares of the company's stock valued at $26,163,000 after buying an additional 3,275,656 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Janus International Group by 21.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,442,612 shares of the company's stock valued at $25,303,000 after buying an additional 609,765 shares in the last quarter. Boston Partners increased its holdings in Janus International Group by 1.1% in the first quarter. Boston Partners now owns 2,209,961 shares of the company's stock valued at $15,511,000 after buying an additional 23,132 shares in the last quarter. Royce & Associates LP increased its holdings in Janus International Group by 14.0% in the first quarter. Royce & Associates LP now owns 2,127,169 shares of the company's stock valued at $15,316,000 after buying an additional 261,116 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Janus International Group by 6.1% in the first quarter. Invesco Ltd. now owns 1,690,739 shares of the company's stock valued at $12,173,000 after buying an additional 96,851 shares in the last quarter. 88.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Janus International Group Trading Down 0.8%

JBI stock traded down $0.08 during midday trading on Friday, hitting $10.33. The stock had a trading volume of 498,232 shares, compared to its average volume of 1,318,135. The firm has a market cap of $1.43 billion, a PE ratio of 21.12 and a beta of 1.31. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.61 and a quick ratio of 2.26. Janus International Group, Inc. has a 12-month low of $5.99 and a 12-month high of $11.05. The company's 50-day moving average price is $9.24 and its 200 day moving average price is $8.24.

Janus International Group (NYSE:JBI - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.05. The business had revenue of $228.10 million during the quarter, compared to the consensus estimate of $216.99 million. Janus International Group had a return on equity of 13.10% and a net margin of 4.85%.The business's revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. 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 fiscal year.

Janus International Group announced that its Board of Directors has approved a share buyback plan 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 plans are usually 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.