Zelman Capital buys $28 Million stake in Headwaters Inc (HW)

Headwaters Inc (HW) : Zelman Capital scooped up 81,000 additional shares in Headwaters Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 1,480,294 shares of Headwaters Inc which is valued at $28 Million.Headwaters Inc makes up approximately 15.94% of Zelman Capital’s portfolio.

Other Hedge Funds, Including , Raymond James Associates added HW to its portfolio by purchasing 38,537 company shares during the most recent quarter which is valued at $729,505.Trexquant Investment Lp reduced its stake in HW by selling 42,012 shares or 56.01% in the most recent quarter. The Hedge Fund company now holds 33,000 shares of HW which is valued at $624,690. Headwaters Inc makes up approx 0.07% of Trexquant Investment Lp’s portfolio.Blackrock Investment Management boosted its stake in HW in the latest quarter, The investment management firm added 10,055 additional shares and now holds a total of 290,340 shares of Headwaters Inc which is valued at $5.5 Million. Headwaters Inc makes up approx 0.01% of Blackrock Investment Management’s portfolio.New York State Common Retirement Fund boosted its stake in HW in the latest quarter, The investment management firm added 9,994 additional shares and now holds a total of 105,304 shares of Headwaters Inc which is valued at $2 Million.Lebenthal Lisanti Capital Growth reduced its stake in HW by selling 4,720 shares or 5.49% in the most recent quarter. The Hedge Fund company now holds 81,273 shares of HW which is valued at $1.5 Million. Headwaters Inc makes up approx 1.86% of Lebenthal Lisanti Capital Growth’s portfolio.

Headwaters Inc opened for trading at $18.01 and hit $18.36 on the upside on Friday, eventually ending the session at $18.24, with a gain of 1.79% or 0.32 points. The heightened volatility saw the trading volume jump to 5,04,598 shares. Company has a market cap of $1,351 M.

On the company’s financial health, Headwaters Inc reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.10. The company had revenue of $202.30 million for the quarter, compared to analysts expectations of $198.82 million. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.

Many Wall Street Analysts have commented on Headwaters Inc. DA Davidson Upgraded Headwaters Inc on May 4, 2016 to ” Buy”, Price Target of the shares are set at $24.DA Davidson Initiated Headwaters Inc on Apr 29, 2016 to “Neutral”, Price Target of the shares are set at $24.

Headwaters Incorporated (Headwaters) is a building products company providing products and services in the light and heavy building materials sectors. It operates in three segments: light building products heavy construction materials and energy technology. The Company’s light building products segment is engaged in design manufacture and marketing of siding accessories used in residential repair and remodeling and new residential construction applications. Heavy construction materials segment is engaged in management and marketing of fly ash and other CCPs procuring fly ash from coal-fueled electric generating utilities and supplying it to customers as a mineral admixture used as a partial replacement for portland cement in the production of concrete. The energy technology segment is focused on reducing waste and increasing the value of energy-related feedstocks primarily in the areas of low-value coal and oil.

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