Overview of the Recent Transaction
On September 30, 2024, Fuller & Thaler Asset Management, Inc. executed a significant transaction involving the shares of JELD-WEN Holding Inc (JELD, Financial). The firm decided to reduce its holdings by 2,892,370 shares, which resulted in a 37.34% decrease in their previous stake. This adjustment left Fuller & Thaler with a total of 4,853,971 shares in JELD-WEN, valued at a trading price of $15.81 per share. This move impacted the firm's portfolio by -0.2%, reflecting a strategic shift in their investment in JELD-WEN.
Insight into Fuller & Thaler Asset Management, Inc.
Founded in 1993 and based in San Mateo, California, Fuller & Thaler Asset Management, Inc. is an employee-owned investment management firm. With a focus on behavioral finance, the firm manages over $2.8 billion across 61 discretionary accounts. Fuller & Thaler employs a bottom-up investment strategy, primarily targeting micro to small-cap growth and value stocks across various sectors, with a significant emphasis on financial services and industrials. The firm's top holdings include notable names such as Citizens Financial Group Inc (CFG, Financial) and EMCOR Group Inc (EME, Financial).
About JELD-WEN Holding Inc
JELD-WEN Holding Inc, headquartered in the USA, is a prominent player in the construction industry, specializing in manufacturing doors and windows. Since its IPO on January 27, 2017, the company has focused on the North American market but maintains a presence in Europe and Australasia. Despite a challenging market, JELD-WEN reports a market capitalization of $1.35 billion and is currently assessed as "Fairly Valued" with a GF Value of $14.86.
Impact of the Trade on Fuller & Thaler’s Portfolio
The recent reduction in JELD-WEN shares by Fuller & Thaler has adjusted the firm's exposure to the construction sector, reflecting a strategic realignment or risk reassessment. Holding 5.74% of JELD-WEN's shares, Fuller & Thaler remains a significant investor, though the reduction suggests a shift in their valuation or outlook on the company’s future performance.
Current Market Valuation and Stock Performance of JELD-WEN
JELD-WEN's stock currently trades at $15.94, slightly above its GF Value, indicating a fair valuation. The stock has experienced a year-to-date decline of 14.12% and a significant drop of 36.87% since its IPO. These movements reflect broader market trends and internal company challenges, impacting investor sentiment and stock performance.
Comparative Industry Analysis
In the construction sector, JELD-WEN competes with other firms in door and window manufacturing. The industry faces various challenges, including fluctuating material costs and economic cycles affecting construction demand. JELD-WEN's strategic focus on diverse geographic segments helps mitigate some regional risks.
Broader Implications of Fuller & Thaler’s Trade
The decision by Fuller & Thaler to reduce its stake in JELD-WEN could be indicative of broader market concerns or specific issues within JELD-WEN that have influenced the firm's investment strategy. For investors, this move might signal a need to reassess the company's prospects or consider the factors driving Fuller & Thaler's decision.
Other Significant Stakeholders
Other major investors in JELD-WEN include Pzena Investment Management LLC, HOTCHKIS & WILEY, First Eagle Investment (Trades, Portfolio), and Joel Greenblatt (Trades, Portfolio). Each holds a unique investment philosophy, contributing to the dynamic investment landscape of JELD-WEN.
This transaction by Fuller & Thaler highlights the dynamic nature of investment strategies in response to changing market conditions and company performance. Investors and market watchers will undoubtedly keep a close eye on JELD-WEN's future developments and Fuller & Thaler's subsequent moves.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
