Schwab Charles Investment Management Inc. raised its holdings in shares of Ply Gem Holdings Inc (NYSE:PGEM) by 29.6% during the 4th quarter, HoldingsChannel reports. The fund owned 350,175 shares of the construction company’s stock after purchasing an additional 79,982 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Ply Gem were worth $6,479,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in PGEM. Wells Fargo & Company MN grew its stake in shares of Ply Gem by 1.9% in the 2nd quarter. Wells Fargo & Company MN now owns 15,890 shares of the construction company’s stock valued at $285,000 after buying an additional 293 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Ply Gem in the 3rd quarter valued at approximately $327,000. The Manufacturers Life Insurance Company grew its stake in shares of Ply Gem by 0.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,016 shares of the construction company’s stock valued at $342,000 after buying an additional 171 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Ply Gem in the 3rd quarter valued at approximately $436,000. Finally, Allianz Asset Management GmbH bought a new stake in shares of Ply Gem in the 3rd quarter valued at approximately $710,000. 29.34% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on the company. Royal Bank of Canada cut Ply Gem from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 21st. Zacks Investment Research raised Ply Gem from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Thursday, February 15th. Finally, ValuEngine raised Ply Gem from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $22.00.
Ply Gem (NYSE:PGEM) last announced its earnings results on Monday, March 5th. The construction company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The company had revenue of $516.86 million for the quarter, compared to the consensus estimate of $494.93 million. Ply Gem had a return on equity of 144.46% and a net margin of 3.32%. equities analysts forecast that Ply Gem Holdings Inc will post 1.54 EPS for the current fiscal year.
In other Ply Gem news, insider John L. Buckley sold 32,725 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $22.00, for a total transaction of $719,950.00. Following the completion of the sale, the insider now owns 32,724 shares of the company’s stock, valued at $719,928. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 68.90% of the stock is owned by corporate insiders.
About Ply Gem
Ply Gem Holdings, Inc is a manufacturer of exterior building products in North America. The Company operates through two segments: Siding, Fencing, and Stone, and Windows and Doors. In the Siding, Fencing, and Stone segment, its principal products include vinyl siding and skirting, vinyl and aluminum soffit, aluminum trim coil, cellular PVC trim and moldings, J-channels, wide crown molding, window and door trim, F-channels, H-molds, fascia, undersill trims, outside/inside corner posts, rain removal systems, injection molded designer accents, such as shakes, shingles, scallops, shutters, vents and mounts, vinyl fence, vinyl railing and stone veneer in the United States and Canada.
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