Teachers Retirement System of The State of Kentucky acquired a new stake in Skyline Co. (NYSEAMERICAN:SKY) during the third quarter, Holdings Channel reports. The institutional investor acquired 13,100 shares of the construction company’s stock, valued at approximately $374,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. EAM Investors LLC lifted its position in shares of Skyline by 98.9% during the 2nd quarter. EAM Investors LLC now owns 66,189 shares of the construction company’s stock valued at $2,319,000 after acquiring an additional 32,919 shares during the period. Rhumbline Advisers acquired a new stake in shares of Skyline during the 2nd quarter valued at approximately $289,000. Bank of New York Mellon Corp acquired a new stake in shares of Skyline during the 2nd quarter valued at approximately $670,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Skyline during the 2nd quarter valued at approximately $519,000. Finally, Royce & Associates LP lifted its position in shares of Skyline by 12.6% during the 2nd quarter. Royce & Associates LP now owns 134,100 shares of the construction company’s stock valued at $4,699,000 after acquiring an additional 15,000 shares during the period.
Shares of Skyline stock opened at $17.62 on Friday. Skyline Co. has a 1 year low of $12.02 and a 1 year high of $35.65.
Skyline (NYSEAMERICAN:SKY) last issued its quarterly earnings data on Monday, November 5th. The construction company reported $0.23 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The company had revenue of $355.44 million for the quarter, compared to analyst estimates of $368.20 million.
A number of research firms have recently issued reports on SKY. Zacks Investment Research downgraded shares of Skyline from a “hold” rating to a “sell” rating in a research report on Wednesday. Credit Suisse Group began coverage on shares of Skyline in a research report on Thursday, November 29th. They set a “neutral” rating and a $25.00 price target for the company. Royal Bank of Canada set a $34.00 price target on shares of Skyline and gave the company a “buy” rating in a research report on Wednesday, November 7th. Barclays initiated coverage on Skyline in a research report on Tuesday, October 2nd. They set an “overweight” rating and a $35.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on Skyline in a research report on Friday, September 7th. They set a “buy” rating and a $36.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Skyline currently has a consensus rating of “Hold” and an average price target of $32.83.
In other Skyline news, insider Bain Capital Credit Member, Ll sold 3,777,089 shares of the business’s stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $27.93, for a total value of $105,494,095.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith A. Anderson sold 89,378 shares of the business’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $29.25, for a total value of $2,614,306.50. Following the completion of the transaction, the chief executive officer now owns 1,281,596 shares of the company’s stock, valued at $37,486,683. The disclosure for this sale can be found here. Insiders have sold a total of 10,655,229 shares of company stock valued at $279,331,369 over the last 90 days.
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Skyline Corporation designs, produces, and markets manufactured housing, modular housing, and park models to independent dealers and manufactured housing communities in the United States and Canada. The company's manufactured housing models include two to four bedrooms, kitchen, dining area, living room, one or two bathrooms, kitchen appliances, and central heating and cooling products, as well as exterior dormers and windows, interior or exterior accent columns, fireplaces, and whirlpool tubs.
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