Turtle Creek Asset Management Acquires 110,000 Shares of JELD-WEN Holding, Inc. (NYSE:JELD) Stock

JELD-WEN Holding, Inc. (NYSE:JELD) major shareholder Turtle Creek Asset Management acquired 110,000 shares of the stock in a transaction on Friday, January 10th. The shares were acquired at an average price of $7.65 per share, for a total transaction of $841,500.00. Following the acquisition, the insider now owns 12,259,784 shares of the company’s stock, valued at approximately $93,787,347.60. The trade was a 0.91 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Turtle Creek Asset Management also recently made the following trade(s):

• On Tuesday, January 7th, Turtle Creek Asset Management bought 125,000 shares of JELD-WEN stock. The shares were acquired at an average cost of $7.90 per share, with a total value of $987,500.00.
• On Thursday, November 7th, Turtle Creek Asset Management purchased 200,000 shares of JELD-WEN stock. The stock was acquired at an average cost of $10.48 per share, for a total transaction of $2,096,000.00.
• On Tuesday, November 5th, Turtle Creek Asset Management acquired 450,000 shares of JELD-WEN stock. The shares were bought at an average cost of $10.06 per share, with a total value of $4,527,000.00.

JELD-WEN Stock Performance

Shares of JELD stock opened at $7.75 on Monday. JELD-WEN Holding, Inc. has a 52 week low of $7.43 and a 52 week high of $21.75. The firm’s 50-day simple moving average is $9.78 and its two-hundred day simple moving average is $13.00. The firm has a market cap of $655.81 million, a price-to-earnings ratio of -4.23 and a beta of 2.16. 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 posted its quarterly earnings data on Monday, November 4th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). JELD-WEN had a negative net margin of 3.98% and a positive return on equity of 12.32%. The firm had revenue of $934.70 million during the quarter, compared to analysts’ expectations of $990.64 million. During the same quarter in the previous year, the company posted $0.53 EPS. JELD-WEN’s revenue for the quarter was down 13.2% on a year-over-year basis. As a group, equities analysts forecast that JELD-WEN Holding, Inc. will post 0.73 earnings per share for the current year.

Institutional Investors Weigh In On JELD-WEN

Several large investors have recently added to or reduced their stakes in JELD. First Hawaiian Bank raised its holdings in JELD-WEN by 26.7% during the 4th quarter. First Hawaiian Bank now owns 70,893 shares of the company’s stock valued at $581,000 after acquiring an additional 14,939 shares during the period. Diversified Trust Co raised its stake in shares of JELD-WEN by 8.8% during the 4th quarter. Diversified Trust Co now owns 27,614 shares of the company’s stock valued at $226,000 after purchasing an additional 2,242 shares during the period. JPMorgan Chase & Co. lifted its holdings in JELD-WEN by 8.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 130,078 shares of the company’s stock worth $2,057,000 after purchasing an additional 10,154 shares in the last quarter. Geode Capital Management LLC boosted its stake in JELD-WEN by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,945,899 shares of the company’s stock worth $30,771,000 after purchasing an additional 9,468 shares during the period. Finally, K2 Principal Fund L.P. purchased a new position in JELD-WEN during the 3rd quarter valued at about $278,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

JELD has been the topic of several analyst reports. B. Riley cut their target price on JELD-WEN from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Barclays cut their price objective on shares of JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Royal Bank of Canada lowered their target price on shares of JELD-WEN from $9.00 to $8.00 and set an “underperform” rating for the company in a report on Wednesday, December 18th. UBS Group restated a “neutral” rating and set a $9.00 price target (down from $15.00) on shares of JELD-WEN in a report on Wednesday, January 8th. Finally, Jefferies Financial Group increased their price objective on shares of JELD-WEN from $15.00 to $17.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to MarketBeat.com, JELD-WEN currently has an average rating of “Hold” and an average target price of $12.88.

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.