Headwaters Inc. (HW) Short Interest Update
Headwaters Inc. (NYSE:HW) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 1,780,166 shares, a decrease of 35.3% from the August 31st total of 2,752,214 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 843,252 shares, the days-to-cover ratio is currently 2.1 days.
Headwaters (NYSE:HW) opened at 17.17 on Friday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 8.13 and a beta of 1.53. The company has a 50 day moving average price of $17.50 and a 200 day moving average price of $18.64. Headwaters has a 12 month low of $13.62 and a 12 month high of $21.25.
Headwaters (NYSE:HW) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.38 by $0.08. Headwaters had a net margin of 16.60% and a return on equity of 34.50%. The company had revenue of $262.50 million for the quarter, compared to analysts’ expectations of $276.83 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. Equities research analysts predict that Headwaters will post $1.14 earnings per share for the current year.
A number of brokerages have weighed in on HW. Deutsche Bank AG increased their price target on Headwaters from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Zacks Investment Research lowered Headwaters from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Canaccord Genuity reissued a “buy” rating and set a $23.50 price target on shares of Headwaters in a research note on Thursday, August 4th. Wedbush reissued 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 on the stock. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $22.21.
In other Headwaters news, insider Bob L. Whisnant sold 32,890 shares of the stock in a transaction 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 transaction, the insider now owns 6,046 shares of the company’s stock, valued at approximately $114,994.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director R Sam Christensen purchased 5,706 shares of Headwaters stock in a transaction on Monday, August 8th. The shares were acquired at an average cost of $19.05 per share, for a total transaction of $108,699.30. The disclosure for this purchase can be found here. Company insiders own 6.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. New England Research & Management Inc. boosted its position in Headwaters by 98.4% in the third quarter. New England Research & Management Inc. now owns 66,537 shares of the company’s stock valued at $1,126,000 after buying an additional 33,006 shares in the last quarter. Norman Fields Gottscho Capital Management LLC bought a new position in Headwaters during the third quarter valued at approximately $203,000. Mason Street Advisors LLC bought a new position in Headwaters during the second quarter valued at approximately $260,000. Public Employees Retirement System of Ohio bought a new position in Headwaters during the second quarter valued at approximately $1,463,000. Finally, Schwab Charles Investment Management Inc. boosted its position in Headwaters by 1.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 251,635 shares of the company’s stock valued at $4,515,000 after buying an additional 4,674 shares in the last quarter. Institutional investors and hedge funds own 91.27% of the company’s stock.
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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