JPMorgan Chase & Co. cut its holdings in shares of Ply Gem Holdings Inc (NYSE:PGEM) by 26.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,177 shares of the construction company’s stock after selling 56,536 shares during the period. JPMorgan Chase & Co. owned about 0.23% of Ply Gem worth $2,722,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PGEM. Parametrica Management Ltd acquired a new position in Ply Gem during the 3rd quarter worth $196,000. Wells Fargo & Company MN lifted its holdings in Ply Gem by 1.9% during the 2nd quarter. Wells Fargo & Company MN now owns 15,890 shares of the construction company’s stock worth $285,000 after buying an additional 293 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Ply Gem during the 3rd quarter worth $327,000. Thrivent Financial For Lutherans acquired a new position in Ply Gem during the 2nd quarter worth $333,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Ply Gem by 0.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,016 shares of the construction company’s stock worth $342,000 after buying an additional 171 shares in the last quarter. Institutional investors and hedge funds own 29.21% of the company’s stock.
Several research analysts have issued reports on the company. Zacks Investment Research raised Ply Gem from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 11th. Royal Bank of Canada reissued a “buy” rating and issued a $20.00 price target on shares of Ply Gem in a research note on Wednesday, November 15th. BidaskClub downgraded Ply Gem from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Finally, KeyCorp reissued a “hold” rating on shares of Ply Gem in a research note on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $19.50.
Ply Gem Holdings Inc (NYSE:PGEM) remained flat at $$18.35 during mid-day trading on Friday. 71,564 shares of the company’s stock traded hands, compared to its average volume of 99,968. The company has a current ratio of 1.92, a quick ratio of 1.28 and a debt-to-equity ratio of 13.73. The company has a market cap of $1,260.00, a price-to-earnings ratio of 20.85 and a beta of 2.50. Ply Gem Holdings Inc has a 12 month low of $14.55 and a 12 month high of $20.00.
Ply Gem (NYSE:PGEM) last posted its quarterly earnings results on Monday, November 6th. The construction company reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.04). The company had revenue of $564.66 million during the quarter, compared to analyst estimates of $563.96 million. Ply Gem had a net margin of 3.02% and a return on equity of 240.74%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.75 EPS. equities analysts forecast that Ply Gem Holdings Inc will post 1.03 EPS for the current fiscal year.
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Ply Gem Profile
Ply Gem Holdings, Inc is a manufacturer of exterior building products in North America. The Company operates through two segments: Siding, Fencing, and Stone, and Windows and Doors. In the Siding, Fencing, and Stone segment, its principal products include vinyl siding and skirting, vinyl and aluminum soffit, aluminum trim coil, cellular PVC trim and moldings, J-channels, wide crown molding, window and door trim, F-channels, H-molds, fascia, undersill trims, outside/inside corner posts, rain removal systems, injection molded designer accents, such as shakes, shingles, scallops, shutters, vents and mounts, vinyl fence, vinyl railing and stone veneer in the United States and Canada.
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