Turtle Creek Asset Management Acquires 72,000 Shares of JELD-WEN Holding, Inc. (NYSE:JELD) Stock

JELD-WEN Holding, Inc. (NYSE:JELD) major shareholder Turtle Creek Asset Management acquired 72,000 shares of the stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $6.08 per share, for a total transaction of $437,760.00. Following the purchase, the insider now directly owns 701,934 shares of the company’s stock, valued at $4,267,758.72. The trade was a 11.43 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, March 3rd, Turtle Creek Asset Management acquired 26,336 shares of JELD-WEN stock. The shares were bought at an average cost of $5.73 per share, for a total transaction of $150,905.28.
• On Monday, January 13th, Turtle Creek Asset Management purchased 75,000 shares of JELD-WEN stock. The stock was acquired at an average cost of $8.46 per share, for a total transaction of $634,500.00.
• On Friday, January 10th, Turtle Creek Asset Management purchased 110,000 shares of JELD-WEN stock. The stock was acquired at an average cost of $7.65 per share, for a total transaction of $841,500.00.
• On Tuesday, January 7th, Turtle Creek Asset Management purchased 125,000 shares of JELD-WEN stock. The stock was acquired at an average cost of $7.90 per share, for a total transaction of $987,500.00.

JELD-WEN Price Performance

Shares of NYSE JELD opened at $5.45 on Wednesday. The stock’s 50-day moving average is $8.17 and its two-hundred day moving average is $11.36. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.03 and a quick ratio of 1.33. JELD-WEN Holding, Inc. has a 1-year low of $5.44 and a 1-year high of $21.75. The company has a market cap of $462.01 million, a price-to-earnings ratio of -2.44 and a beta of 2.23.

JELD-WEN (NYSE:JELD) last issued its quarterly earnings results on Monday, February 17th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.20). JELD-WEN had a positive return on equity of 7.14% and a negative net margin of 5.01%. The company had revenue of $895.70 million for the quarter, compared to analysts’ expectations of $860.82 million. Analysts forecast that JELD-WEN Holding, Inc. will post 0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Turtle Creek Asset Management Inc. increased its holdings in shares of JELD-WEN by 7.2% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 14,842,920 shares of the company’s stock valued at $121,564,000 after acquiring an additional 1,000,000 shares during the last quarter. Pzena Investment Management LLC increased its holdings in shares of JELD-WEN by 16.5% in the 4th quarter. Pzena Investment Management LLC now owns 11,165,246 shares of the company’s stock valued at $91,443,000 after acquiring an additional 1,583,238 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of JELD-WEN by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 8,545,071 shares of the company’s stock valued at $69,984,000 after acquiring an additional 101,944 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of JELD-WEN by 12.3% in the 4th quarter. American Century Companies Inc. now owns 5,775,940 shares of the company’s stock valued at $47,305,000 after acquiring an additional 634,101 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of JELD-WEN by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,701,950 shares of the company’s stock valued at $30,319,000 after acquiring an additional 146,581 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

JELD has been the topic of several recent analyst reports. Truist Financial decreased their price target on JELD-WEN from $11.00 to $7.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. The Goldman Sachs Group decreased their price target on JELD-WEN from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. B. Riley decreased their price target on JELD-WEN from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. StockNews.com upgraded JELD-WEN from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Loop Capital cut their price objective on JELD-WEN from $10.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, JELD-WEN presently has a consensus rating of “Hold” and a consensus price target of $9.06.

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.