Hayward (NYSE:HAYW) CEO Sells 50,000 Shares of Stock

Key Points

• Hayward CEO Kevin Holleran sold 50,000 shares for $827,500 at an average price of $16.55 under a pre-arranged Rule 10b5-1 plan, reducing his stake by 11.08%. He retained 401,234 shares.
• The sale followed two other 50,000-share sales by Holleran in September and October, at average prices of $13.85 and $12.40, respectively.
• Hayward’s latest quarterly results beat expectations: EPS was $0.18 versus forecasts of $0.15, while revenue rose 6.5% year over year to $260.13 million. Analysts’ consensus rating was Hold, with a $17.12 average price target.

Hayward Holdings, Inc. (NYSE:HAYW - Get Free Report) CEO Kevin Holleran sold 50,000 shares of Hayward stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $16.55, for a total transaction of $827,500.00. Following the sale, the chief executive officer owned 401,234 shares of the company's stock, valued at approximately $6,640,422.70. The trade was a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kevin Holleran also recently made the following trade(s):

• On Monday, October 5th, Kevin Holleran sold 50,000 shares of Hayward stock. The stock was sold at an average price of $12.40, for a total value of $620,000.00.
• On Tuesday, September 1st, Kevin Holleran sold 50,000 shares of Hayward stock. The stock was sold at an average price of $13.85, for a total value of $692,500.00.

Hayward Price Performance

NYSE HAYW traded down $0.27 during mid-day trading on Tuesday, hitting $16.54. The stock had a trading volume of 5,176,345 shares, compared to its average volume of 2,698,946. Hayward Holdings, Inc. has a 52-week low of $11.24 and a 52-week high of $17.42. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 21.21, a P/E/G ratio of 1.36 and a beta of 1.18. The company has a 50 day simple moving average of $13.03 and a 200 day simple moving average of $14.58. The company has a quick ratio of 2.49, a current ratio of 3.33 and a debt-to-equity ratio of 0.60.

Hayward (NYSE:HAYW - Get Free Report) last posted its earnings results on Wednesday, October 28th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.03. The company had revenue of $260.13 million for the quarter, compared to the consensus estimate of $251.80 million. Hayward had a return on equity of 11.95% and a net margin of 14.35%. Hayward's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. Equities analysts forecast that Hayward Holdings, Inc. will post 0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Hayward

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Hayward during the second quarter worth approximately $422,455,000. Dimensional Fund Advisors LP boosted its holdings in shares of Hayward by 11.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,453,736 shares of the company's stock valued at $99,726,000 after purchasing an additional 761,145 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Hayward by 1.9% in the 1st quarter. Jennison Associates LLC now owns 4,798,842 shares of the company's stock valued at $64,209,000 after purchasing an additional 90,733 shares during the last quarter. Reinhart Partners LLC. acquired a new position in shares of Hayward in the 3rd quarter valued at $38,607,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Hayward by 25.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,975,392 shares of the company's stock valued at $39,811,000 after buying an additional 605,743 shares during the period.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Weiss Ratings lowered shares of Hayward from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, October 23rd. KeyCorp restated a "sector weight" rating on shares of Hayward in a report on Monday, July 20th. Wolfe Research started coverage on shares of Hayward in a research report on Tuesday, September 15th. They set a "peer perform" rating for the company. The Goldman Sachs Group upped their price target on shares of Hayward from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Wednesday, October 28th. Finally, Zacks Research lowered shares of Hayward from a "hold" rating to a "strong sell" rating in a research report on Monday, October 19th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $17.12.

About Hayward

Hayward Holdings, Inc designs, manufactures and markets equipment and technologies used in residential and commercial swimming pools. Its product portfolio includes pumps, filters, heaters, heat pumps, automatic pool cleaners, lighting, sanitization systems, water features and pool-control and automation solutions.

The company sells products under the Hayward brand and serves pool owners, builders, retailers, distributors and service professionals. Its equipment is used in both new pool construction and the replacement and renovation market, with an emphasis on energy efficiency, water quality and connected pool-management technologies.

Hayward traces its roots to 1925 and has developed into a global pool-equipment supplier.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.