Turtle Creek Asset Management Buys 72,000 Shares of JELD-WEN Holding, Inc. (NYSE:JELD) Stock

JELD-WEN Holding, Inc. (NYSE:JELD) major shareholder Turtle Creek Asset Management acquired 72,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $6.08 per share, for a total transaction of $437,760.00. Following the purchase, the insider now directly owns 701,934 shares of the company’s stock, valued at $4,267,758.72. This represents a 11.43 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, March 3rd, Turtle Creek Asset Management bought 26,336 shares of JELD-WEN stock. The stock was bought at an average cost of $5.73 per share, for a total transaction of $150,905.28.
• On Monday, January 13th, Turtle Creek Asset Management acquired 75,000 shares of JELD-WEN stock. The shares were purchased at an average price of $8.46 per share, with a total value of $634,500.00.
• On Friday, January 10th, Turtle Creek Asset Management purchased 110,000 shares of JELD-WEN stock. The shares were purchased at an average price of $7.65 per share, for a total transaction of $841,500.00.
• On Tuesday, January 7th, Turtle Creek Asset Management acquired 125,000 shares of JELD-WEN stock. The stock was purchased at an average price of $7.90 per share, with a total value of $987,500.00.

JELD-WEN Stock Up 3.1 %

Shares of JELD stock opened at $5.63 on Thursday. JELD-WEN Holding, Inc. has a 12 month low of $5.44 and a 12 month high of $21.75. The company has a 50 day simple moving average of $8.11 and a two-hundred day simple moving average of $11.30. The stock has a market cap of $477.79 million, a P/E ratio of -2.53 and a beta of 2.23. The company has a current ratio of 2.03, a quick ratio of 1.33 and a debt-to-equity ratio of 1.64.

JELD-WEN (NYSE:JELD) last posted its quarterly earnings results on Monday, February 17th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.20). The firm had revenue of $895.70 million during the quarter, compared to the consensus estimate of $860.82 million. JELD-WEN had a positive return on equity of 7.14% and a negative net margin of 5.01%. On average, research analysts expect that JELD-WEN Holding, Inc. will post 0.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on JELD shares. Royal Bank of Canada reduced their target price on JELD-WEN from $7.00 to $5.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. UBS Group reduced their price objective on JELD-WEN from $9.00 to $7.50 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Loop Capital decreased their target price on JELD-WEN from $10.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. The Goldman Sachs Group dropped their price target on shares of JELD-WEN from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, B. Riley decreased their price objective on shares of JELD-WEN from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.06.

Hedge Funds Weigh In On JELD-WEN

Large investors have recently made changes to their positions in the business. Turtle Creek Asset Management Inc. raised its stake in JELD-WEN by 7.2% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 14,842,920 shares of the company’s stock valued at $121,564,000 after purchasing an additional 1,000,000 shares during the period. Pzena Investment Management LLC raised its position in shares of JELD-WEN by 16.5% during the fourth quarter. Pzena Investment Management LLC now owns 11,165,246 shares of the company’s stock valued at $91,443,000 after buying an additional 1,583,238 shares during the last quarter. Vanguard Group Inc. raised its position in shares of JELD-WEN by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,545,071 shares of the company’s stock valued at $69,984,000 after buying an additional 101,944 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of JELD-WEN by 12.3% in the fourth quarter. American Century Companies Inc. now owns 5,775,940 shares of the company’s stock worth $47,305,000 after buying an additional 634,101 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of JELD-WEN by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,701,950 shares of the company’s stock worth $30,319,000 after acquiring an additional 146,581 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

JELD-WEN Company Profile

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.