Bank of New York Mellon Corp Has $5.13 Million Stake in Ply Gem Holdings, Inc. (PGEM)
Bank of New York Mellon Corp cut its holdings in shares of Ply Gem Holdings, Inc. (NYSE:PGEM) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 285,668 shares of the construction company’s stock after selling 1,705 shares during the period. Bank of New York Mellon Corp owned approximately 0.42% of Ply Gem Holdings worth $5,128,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. New England Research & Management Inc. boosted its position in shares of Ply Gem Holdings by 190.0% during the second quarter. New England Research & Management Inc. now owns 54,458 shares of the construction company’s stock worth $978,000 after buying an additional 35,682 shares during the period. Driehaus Capital Management LLC acquired a new position in shares of Ply Gem Holdings during the first quarter worth approximately $3,480,000. CNA Financial Corp boosted its position in shares of Ply Gem Holdings by 98.7% during the first quarter. CNA Financial Corp now owns 26,325 shares of the construction company’s stock worth $519,000 after buying an additional 13,075 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Ply Gem Holdings during the first quarter worth approximately $357,000. Finally, AQR Capital Management LLC boosted its position in shares of Ply Gem Holdings by 1.0% during the first quarter. AQR Capital Management LLC now owns 503,732 shares of the construction company’s stock worth $9,923,000 after buying an additional 4,768 shares during the period. Institutional investors and hedge funds own 29.70% of the company’s stock.
Several brokerages have recently issued reports on PGEM. BidaskClub upgraded Ply Gem Holdings from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Zacks Investment Research downgraded Ply Gem Holdings from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, J P Morgan Chase & Co restated a “neutral” rating and issued a $19.00 target price (down from $20.00) on shares of Ply Gem Holdings in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Ply Gem Holdings currently has an average rating of “Hold” and an average price target of $20.50.
Shares of Ply Gem Holdings, Inc. (NYSE PGEM) opened at 16.95 on Thursday. Ply Gem Holdings, Inc. has a 52-week low of $12.85 and a 52-week high of $20.00. The firm has a market capitalization of $1.16 billion, a P/E ratio of 13.38 and a beta of 2.52. The firm has a 50-day moving average price of $15.93 and a 200-day moving average price of $17.34.
Ply Gem Holdings (NYSE:PGEM) last released its quarterly earnings results on Monday, August 7th. The construction company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.03). Ply Gem Holdings had a net margin of 4.45% and a return on equity of 857.19%. The company had revenue of $544.80 million for the quarter, compared to the consensus estimate of $548.58 million. During the same period last year, the company earned $0.62 earnings per share. Ply Gem Holdings’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities research analysts anticipate that Ply Gem Holdings, Inc. will post $1.16 EPS for the current year.
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About Ply Gem Holdings
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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