Rutabaga Capital Managementma Lowers stake in Headwaters Inc (HW)

Headwaters Inc (HW) : Rutabaga Capital Managementma reduced its stake in Headwaters Inc by 9.36% during the most recent quarter end. The investment management company now holds a total of 814,908 shares of Headwaters Inc which is valued at $15,744,023 after selling 84,184 shares in Headwaters Inc , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Headwaters Inc makes up approximately 2.73% of Rutabaga Capital Managementma’s portfolio.

Other Hedge Funds, Including , California Public Employees Retirement System reduced its stake in HW by selling 1,100 shares or 0.79% in the most recent quarter. The Hedge Fund company now holds 138,000 shares of HW which is valued at $2,666,160. First Dallas Securities added HW to its portfolio by purchasing 11,100 company shares during the most recent quarter which is valued at $219,114. Headwaters Inc makes up approx 0.16% of First Dallas Securities’s portfolio. Capital One National Association sold out all of its stake in HW during the most recent quarter. The investment firm sold 29,673 shares of HW which is valued $583,668. New England Research Management added HW to its portfolio by purchasing 33,531 company shares during the most recent quarter which is valued at $596,852. Headwaters Inc makes up approx 0.52% of New England Research Management’s portfolio.

Headwaters Inc opened for trading at $18.99 and hit $19.23 on the upside on Monday, eventually ending the session at $19.09, with a gain of 0.10% or 0.02 points. The heightened volatility saw the trading volume jump to 4,48,431 shares. Company has a market cap of $1,415 M.

On the company’s financial health, Headwaters Inc reported $0.30 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.35. The company had revenue of $262.50 million for the quarter, compared to analysts expectations of $277.58 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Headwaters Inc. Headwaters Inc was Downgraded by CL King to ” Neutral” on Aug 9, 2016.

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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