Congress Asset Management Co. Lowers Position in JELD-WEN Holding, Inc. (NYSE:JELD)

Congress Asset Management Co. lessened its stake in JELD-WEN Holding, Inc. (NYSE:JELD) by 6.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 317,094 shares of the company’s stock after selling 22,207 shares during the period. Congress Asset Management Co. owned about 0.37% of JELD-WEN worth $1,893,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Performa Ltd US LLC boosted its position in JELD-WEN by 1,580.0% in the 4th quarter. Performa Ltd US LLC now owns 4,200 shares of the company’s stock worth $34,000 after purchasing an additional 3,950 shares in the last quarter. Quarry LP acquired a new position in shares of JELD-WEN during the 4th quarter worth approximately $46,000. US Bancorp DE raised its stake in shares of JELD-WEN by 257.6% during the 4th quarter. US Bancorp DE now owns 9,752 shares of the company’s stock worth $80,000 after buying an additional 7,025 shares during the period. Brevan Howard Capital Management LP acquired a new position in shares of JELD-WEN during the 4th quarter worth approximately $83,000. Finally, GAMMA Investing LLC raised its stake in shares of JELD-WEN by 1,054.6% during the 1st quarter. GAMMA Investing LLC now owns 14,710 shares of the company’s stock worth $88,000 after buying an additional 13,436 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

JELD-WEN Trading Down 0.5%

Shares of JELD stock opened at $3.85 on Monday. JELD-WEN Holding, Inc. has a fifty-two week low of $3.27 and a fifty-two week high of $17.70. The firm has a market capitalization of $328.66 million, a P/E ratio of -1.73 and a beta of 1.69. The stock’s fifty day moving average is $4.64 and its two-hundred day moving average is $6.95. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.33 and a current ratio of 2.03.

JELD-WEN (NYSE:JELD) last issued its earnings results on Monday, May 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. JELD-WEN had a positive return on equity of 7.14% and a negative net margin of 5.01%. The business had revenue of $776.00 million during the quarter, compared to the consensus estimate of $769.25 million. During the same period last year, the company earned $0.21 EPS. The company’s revenue for the quarter was down 19.1% on a year-over-year basis. Research analysts expect that JELD-WEN Holding, Inc. will post 0.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on JELD. Royal Bank of Canada reduced their target price on JELD-WEN from $5.00 to $2.00 and set an “underperform” rating for the company in a research note on Wednesday, May 7th. Wall Street Zen downgraded JELD-WEN from a “hold” rating to a “sell” rating in a research note on Wednesday, May 14th. UBS Group reduced their target price on JELD-WEN from $7.50 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Truist Financial reduced their target price on JELD-WEN from $11.00 to $7.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Finally, Loop Capital reduced their target price on JELD-WEN from $8.00 to $4.00 and set a “hold” rating for the company in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.34.

Insiders Place Their Bets

In other JELD-WEN news, major shareholder Turtle Creek Asset Management acquired 70,000 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average cost of $5.97 per share, with a total value of $417,900.00. Following the transaction, the insider now owns 12,485,051 shares of the company’s stock, valued at $74,535,754.47. This trade represents a 0.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased 649,267 shares of company stock valued at $3,406,605 in the last three months. 1.24% of the stock is currently owned by insiders.

About JELD-WEN

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.