Louisiana State Employees Retirement System continued to hold its position in Headwaters Inc. (NYSE:HW) during the second quarter, Holdings Channel reports. The institutional investor owned 32,800 shares of the company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in Headwaters were worth $588,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in HW. Copper Rock Capital Partners LLC acquired a new position in Headwaters during the second quarter valued at about $23,353,000. Teachers Advisors Inc. raised its position in Headwaters by 487.0% in the first quarter. Teachers Advisors Inc. now owns 666,190 shares of the company’s stock valued at $13,217,000 after buying an additional 552,700 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Headwaters by 99.7% in the first quarter. Goldman Sachs Group Inc. now owns 362,552 shares of the company’s stock valued at $7,193,000 after buying an additional 180,998 shares in the last quarter. Zelman Capital LLC raised its position in Headwaters by 5.8% in the first quarter. Zelman Capital LLC now owns 1,480,294 shares of the company’s stock valued at $29,369,000 after buying an additional 81,000 shares in the last quarter. Finally, State Street Corp raised its position in Headwaters by 5.5% in the first quarter. State Street Corp now owns 1,518,039 shares of the company’s stock valued at $30,121,000 after buying an additional 79,522 shares in the last quarter. 91.28% of the stock is owned by institutional investors.
Headwaters Inc. (NYSE:HW) traded up 1.23% during midday trading on Friday, hitting $17.29. The company’s stock had a trading volume of 344,344 shares. The firm has a market cap of $1.28 billion, a P/E ratio of 8.19 and a beta of 1.53. Headwaters Inc. has a 12 month low of $13.62 and a 12 month high of $21.25. The company’s 50 day moving average price is $17.15 and its 200 day moving average price is $18.56.
Headwaters (NYSE:HW) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.08. Headwaters had a return on equity of 34.50% and a net margin of 16.60%. The firm earned $262.50 million during the quarter, compared to analysts’ expectations of $276.83 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Headwaters’s revenue was up 7.9% on a year-over-year basis. Analysts expect that Headwaters Inc. will post $1.14 EPS for the current year.
HW has been the subject of several recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $23.50 target price on shares of Headwaters in a report on Wednesday, July 6th. CL King lowered Headwaters from a “buy” rating to a “neutral” rating in a report on Tuesday, August 9th. Jefferies Group initiated coverage on Headwaters in a report on Tuesday, September 13th. They issued a “buy” rating and a $21.00 target price for the company. Wedbush reissued a “hold” rating and set a $21.00 price objective on shares of Headwaters in a report on Monday, July 11th. Finally, Zacks Investment Research raised Headwaters from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Wednesday, July 13th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $22.21.
In related news, Director R Sam Christensen bought 5,706 shares of the business’s stock in a transaction on Monday, August 8th. The stock was acquired at an average price of $19.05 per share, with a total value of $108,699.30. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bob L. Whisnant sold 32,890 shares of Headwaters stock in a transaction that occurred on 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 sale, the insider now directly owns 6,046 shares of the company’s stock, valued at approximately $114,994.92. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate 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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