JELD-WEN Holding, Inc. (NYSE:JELD) Major Shareholder Turtle Creek Asset Management Acquires 450,000 Shares of Stock

JELD-WEN Holding, Inc. (NYSE:JELD) major shareholder Turtle Creek Asset Management bought 450,000 shares of JELD-WEN stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average price of $10.06 per share, with a total value of $4,527,000.00. Following the completion of the purchase, the insider now owns 11,751,912 shares in the company, valued at approximately $118,224,234.72. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, November 7th, Turtle Creek Asset Management bought 200,000 shares of JELD-WEN stock. The stock was bought at an average cost of $10.48 per share, with a total value of $2,096,000.00.

JELD-WEN Stock Down 5.5 %

NYSE JELD opened at $10.27 on Friday. The company has a market capitalization of $868.23 million, a P/E ratio of -5.61 and a beta of 2.25. JELD-WEN Holding, Inc. has a 12 month low of $8.90 and a 12 month high of $21.75. The company has a debt-to-equity ratio of 1.53, a current ratio of 2.03 and a quick ratio of 1.33. The company’s 50 day simple moving average is $14.64 and its 200 day simple moving average is $14.99.

JELD-WEN (NYSE:JELD) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.08). The company had revenue of $934.70 million during the quarter, compared to the consensus estimate of $990.64 million. JELD-WEN had a negative net margin of 3.98% and a positive return on equity of 11.97%. JELD-WEN’s quarterly revenue was down 13.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. Equities research analysts expect that JELD-WEN Holding, Inc. will post 1.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on JELD shares. The Goldman Sachs Group lowered their target price on shares of JELD-WEN from $17.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday. Loop Capital decreased their price target on shares of JELD-WEN from $17.00 to $16.00 and set a “hold” rating for the company in a report on Friday, July 19th. Jefferies Financial Group increased their price objective on shares of JELD-WEN from $15.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada cut their target price on shares of JELD-WEN from $13.00 to $9.00 and set an “underperform” rating on the stock in a report on Wednesday. Finally, B. Riley lowered their target price on JELD-WEN from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.90.

Institutional Investors Weigh In On JELD-WEN

Several hedge funds have recently modified their holdings of the stock. Pzena Investment Management LLC boosted its stake in JELD-WEN by 26.3% in the 2nd quarter. Pzena Investment Management LLC now owns 9,320,851 shares of the company’s stock worth $125,552,000 after purchasing an additional 1,939,052 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of JELD-WEN by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,226,666 shares of the company’s stock valued at $43,461,000 after purchasing an additional 191,657 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of JELD-WEN by 1,167.9% in the third quarter. Victory Capital Management Inc. now owns 2,182,401 shares of the company’s stock worth $34,504,000 after buying an additional 2,010,275 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in shares of JELD-WEN by 57.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,099,890 shares of the company’s stock worth $33,200,000 after buying an additional 764,645 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of JELD-WEN by 19.2% during the second quarter. Bank of New York Mellon Corp now owns 1,366,034 shares of the company’s stock valued at $18,400,000 after buying an additional 220,177 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

About JELD-WEN

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.