Los Angeles Capital Management & Equity Research Inc. decreased its position in shares of Headwaters Inc. (NYSE:HW) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 31,215 shares of the company’s stock after selling 275 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Headwaters were worth $560,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Headwaters by 82.3% in the first quarter. BlackRock Inc. now owns 5,076 shares of the company’s stock worth $100,000 after buying an additional 2,291 shares during the period. Fortaleza Asset Management Inc. increased its position in Headwaters by 25.9% in the second quarter. Fortaleza Asset Management Inc. now owns 9,135 shares of the company’s stock worth $164,000 after buying an additional 1,880 shares during the period. First Dallas Securities Inc. bought a new position in Headwaters during the second quarter worth about $199,000. Societe Generale bought a new position in Headwaters during the second quarter worth about $206,000. Finally, Acrospire Investment Management LLC bought a new position in Headwaters during the first quarter worth about $247,000. Institutional investors and hedge funds own 91.27% of the company’s stock.
Headwaters Inc. (NYSE:HW) traded down 0.81% during midday trading on Friday, hitting $17.10. 344,023 shares of the company were exchanged. Headwaters Inc. has a 1-year low of $13.62 and a 1-year high of $21.25. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 8.10 and a beta of 1.82. The stock has a 50 day moving average of $18.22 and a 200-day moving average of $18.74.
Headwaters (NYSE:HW) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.08. Headwaters had a return on equity of 34.50% and a net margin of 16.60%. The company earned $262.50 million during the quarter, compared to the consensus estimate of $276.83 million. During the same period in the previous year, the company earned $0.30 earnings per share. Headwaters’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts expect that Headwaters Inc. will post $1.14 earnings per share for the current year.
A number of research firms have issued reports on HW. Deutsche Bank AG lifted their price target on Headwaters from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded Headwaters from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Wednesday, July 13th. Canaccord Genuity reiterated a “buy” rating and set a $23.50 price target on shares of Headwaters in a research note on Thursday, August 4th. Wedbush reiterated a “hold” rating and set a $21.00 price target on shares of Headwaters in a research note on Monday, July 11th. Finally, Jefferies Group began coverage on Headwaters in a research note on Tuesday, September 13th. They set a “buy” rating and a $21.00 price target for the company. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $22.21.
In related news, Director R Sam Christensen purchased 5,706 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was bought at an average cost of $19.05 per share, with a total value of $108,699.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bob L. Whisnant sold 32,890 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $19.02, for a total transaction of $625,567.80. Following the completion of the transaction, the insider now directly owns 6,046 shares of the company’s stock, valued at $114,994.92. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.
Headwaters Company Profile
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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