Nationwide Fund Advisors decreased its position in Headwaters Inc. (NYSE:HW) by 45.2% during the third quarter, Holdings Channel reports. The firm owned 93,627 shares of the company’s stock after selling 77,236 shares during the period. Nationwide Fund Advisors owned about 0.13% of Headwaters worth $1,584,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Skylands Capital LLC boosted its stake in shares of Headwaters by 31.1% in the third quarter. Skylands Capital LLC now owns 145,850 shares of the company’s stock worth $2,468,000 after buying an additional 34,600 shares during the period. New England Research & Management Inc. boosted its stake in shares of Headwaters by 98.4% in the third quarter. New England Research & Management Inc. now owns 66,537 shares of the company’s stock worth $1,126,000 after buying an additional 33,006 shares during the period. Norman Fields Gottscho Capital Management LLC bought a new stake in shares of Headwaters during the third quarter worth approximately $203,000. Mason Street Advisors LLC bought a new stake in shares of Headwaters during the second quarter worth approximately $260,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Headwaters during the second quarter worth approximately $1,463,000. 92.59% of the stock is owned by institutional investors and hedge funds.
Shares of Headwaters Inc. (NYSE:HW) traded up 0.81% during mid-day trading on Friday, hitting $23.76. The stock had a trading volume of 1,919,312 shares. The company has a market cap of $1.76 billion, a P/E ratio of 37.07 and a beta of 1.49. The firm’s 50 day moving average price is $18.48 and its 200 day moving average price is $18.34. Headwaters Inc. has a 1-year low of $13.62 and a 1-year high of $23.99.
Headwaters (NYSE:HW) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.03. The firm earned $291.60 million during the quarter, compared to the consensus estimate of $303.81 million. Headwaters had a net margin of 4.93% and a return on equity of 30.41%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share. Analysts predict that Headwaters Inc. will post $1.40 earnings per share for the current fiscal year.
A number of research analysts have issued reports on the company. Canaccord Genuity cut Headwaters from a “buy” rating to a “hold” rating and boosted their target price for the company from $23.50 to $24.25 in a research note on Monday, November 21st. Jefferies Group reissued a “buy” rating and issued a $20.00 target price on shares of Headwaters in a research note on Thursday, November 3rd. DA Davidson set a $24.00 target price on Headwaters and gave the company a “buy” rating in a research note on Saturday, October 8th. Avondale Partners cut Headwaters from an “outperform” rating to a “market perform” rating in a research note on Monday, November 21st. Finally, SunTrust Banks Inc. cut Headwaters from a “buy” rating to a “hold” rating in a research note on Tuesday, November 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Headwaters has a consensus rating of “Hold” and an average price target of $22.68.
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.