Kortright Capital Partners Lp Lowers stake in PGT (PGTI)

PGT (PGTI) : Kortright Capital Partners Lp reduced its stake in PGT by 70.6% during the most recent quarter end. The investment management company now holds a total of 158,702 shares of PGT which is valued at $1,793,333 after selling 381,174 shares in PGT , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.PGT makes up approximately 5.41% of Kortright Capital Partners Lp’s portfolio.

Other Hedge Funds, Including , Group One Trading boosted its stake in PGTI in the latest quarter, The investment management firm added 3,069 additional shares and now holds a total of 10,289 shares of PGT which is valued at $116,266. PGT makes up approx 0.01% of Group One Trading’s portfolio.Tiaa Cref Investment Management boosted its stake in PGTI in the latest quarter, The investment management firm added 704 additional shares and now holds a total of 151,942 shares of PGT which is valued at $1,716,945.Texas Permanent School Fund reduced its stake in PGTI by selling 1,693 shares or 4.35% in the most recent quarter. The Hedge Fund company now holds 37,224 shares of PGTI which is valued at $420,631. PGT makes up approx 0.01% of Texas Permanent School Fund’s portfolio. Td Asset Management Inc added PGTI to its portfolio by purchasing 10,000 company shares during the most recent quarter which is valued at $112,600.Rmb Capital Management reduced its stake in PGTI by selling 2,287 shares or 0.66% in the most recent quarter. The Hedge Fund company now holds 342,455 shares of PGTI which is valued at $4,270,414. PGT makes up approx 0.29% of Rmb Capital Management’s portfolio.

PGT opened for trading at $11.88 and hit $12 on the upside on Monday, eventually ending the session at $11.96, with a gain of 1.53% or 0.18 points. The heightened volatility saw the trading volume jump to 1,58,630 shares. Company has a market cap of $585 M.

On the company’s financial health, PGT reported $0.15 EPS for the quarter, based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus estimate of $0.15. The company had revenue of $119.00 million for the quarter, compared to analysts expectations of $124.48 million. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.

Many Wall Street Analysts have commented on PGT. FBR Capital Initiated PGT on Jun 1, 2016 to “Outperform”, Price Target of the shares are set at $14.50.

PGT Inc. is a manufacturer and supplier of residential impact-resistant windows and doors. The Company’s impact-resistant products are marketed under WinGuard PremierVue PGT Architectural Systems and PGT Commercial Storefront System brand names combine heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris by maintaining their structural integrity and preventing penetration by impacting objects. The Company also manufactures non-impact resistant products in both aluminum and vinyl frames including its SpectraGuard line of products. The Company conducts business in the Southeastern United States Gulf Coast Coastal mid-Atlantic the Caribbean Central America and Canada.

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