Copper Rock Capital Partners LLC lowered its stake in Headwaters Inc. (NYSE:HW) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,289,894 shares of the company’s stock after selling 11,854 shares during the period. Copper Rock Capital Partners LLC’s holdings in Headwaters were worth $21,786,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of HW. BlackRock Inc. increased its stake in shares of Headwaters by 82.3% in the first quarter. BlackRock Inc. now owns 5,076 shares of the company’s stock valued at $100,000 after buying an additional 2,291 shares during the period. Pacad Investment Ltd. acquired a new stake in shares of Headwaters during the second quarter valued at $149,000. Fortaleza Asset Management Inc. increased its stake in shares of Headwaters by 25.9% in the second quarter. Fortaleza Asset Management Inc. now owns 9,135 shares of the company’s stock valued at $164,000 after buying an additional 1,880 shares during the period. PineBridge Investments L.P. increased its stake in shares of Headwaters by 3.8% in the second quarter. PineBridge Investments L.P. now owns 9,391 shares of the company’s stock valued at $168,000 after buying an additional 347 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of Headwaters by 15.7% in the second quarter. Teacher Retirement System of Texas now owns 10,454 shares of the company’s stock valued at $188,000 after buying an additional 1,415 shares during the period. 91.27% of the stock is currently owned by institutional investors.
Shares of Headwaters Inc. (NYSE:HW) opened at 17.17 on Friday. Headwaters Inc. has a 52-week low of $13.62 and a 52-week high of $21.25. The firm has a market capitalization of $1.27 billion, a P/E ratio of 8.13 and a beta of 1.53. The stock’s 50 day moving average is $17.50 and its 200-day moving average is $18.64.
Headwaters (NYSE:HW) last released its earnings results on Tuesday, August 2nd. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.08. The company earned $262.50 million during the quarter, compared to the consensus estimate of $276.83 million. Headwaters had a return on equity of 34.50% and a net margin of 16.60%. Headwaters’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. On average, equities analysts forecast that Headwaters Inc. will post $1.14 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on the stock. Canaccord Genuity reiterated a “buy” rating and set a $23.50 target price on shares of Headwaters in a research note on Thursday, August 4th. Zacks Investment Research upgraded shares of Headwaters from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Wednesday, July 13th. Jefferies Group assumed coverage on shares of Headwaters in a research note on Tuesday, September 13th. They set a “buy” rating and a $21.00 target price for the company. CL King downgraded shares of Headwaters from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 9th. Finally, Deutsche Bank AG increased their target price on shares of Headwaters from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Headwaters currently has a consensus rating of “Buy” and an average price target of $22.21.
In related news, insider Bob L. Whisnant sold 32,890 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $19.02, for a total transaction of $625,567.80. Following the completion of the sale, the insider now owns 6,046 shares of the company’s stock, valued at approximately $114,994.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director R Sam Christensen acquired 5,706 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were acquired at an average cost of $19.05 per share, with a total value of $108,699.30. The disclosure for this purchase can be found here. 6.40% of the stock is currently owned by insiders.
Headwaters Incorporated is a building materials company. The Company’s segments include building products, construction materials and energy technology. Its building products segment consists of product sales to wholesale and retail distributors, contractors and other users of building products. Its construction materials segment consists of coal combustion products (CCP) sales to ready-mix concrete businesses, with a smaller amount from services provided to coal-fueled electric generating utilities.
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