Ameriprise Financial Inc. Sells 1,052,887 Shares of Janus International Group, Inc. (NYSE:JBI)

Ameriprise Financial Inc. lessened its holdings in Janus International Group, Inc. (NYSE:JBI) by 38.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,711,869 shares of the company’s stock after selling 1,052,887 shares during the period. Ameriprise Financial Inc. owned about 1.21% of Janus International Group worth $12,582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JBI. Tower Research Capital LLC TRC boosted its stake in shares of Janus International Group by 42.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,146 shares of the company’s stock valued at $38,000 after purchasing an additional 1,544 shares in the last quarter. LPL Financial LLC lifted its stake in Janus International Group by 5.4% in the 4th quarter. LPL Financial LLC now owns 35,829 shares of the company’s stock valued at $263,000 after purchasing an additional 1,839 shares during the last quarter. Federated Hermes Inc. boosted its position in Janus International Group by 109.3% in the fourth quarter. Federated Hermes Inc. now owns 4,798 shares of the company’s stock valued at $35,000 after buying an additional 2,506 shares in the last quarter. Applied Fundamental Research LLC grew its stake in shares of Janus International Group by 0.4% during the fourth quarter. Applied Fundamental Research LLC now owns 790,594 shares of the company’s stock worth $5,811,000 after buying an additional 2,877 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of Janus International Group by 108.8% during the fourth quarter. US Bancorp DE now owns 5,601 shares of the company’s stock worth $41,000 after buying an additional 2,918 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, KeyCorp raised their price objective on Janus International Group from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.00.

Janus International Group Stock Up 3.0%

Shares of NYSE JBI opened at $8.87 on Monday. The company has a 50 day simple moving average of $7.29 and a 200 day simple moving average of $7.57. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.80 and a quick ratio of 2.39. Janus International Group, Inc. has a 1 year low of $5.99 and a 1 year high of $15.24. The firm has a market cap of $1.24 billion, a PE ratio of 12.31 and a beta of 1.20.

Janus International Group (NYSE:JBI) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.05. Janus International Group had a net margin of 10.62% and a return on equity of 21.10%. The firm had revenue of $210.50 million during the quarter, compared to the consensus estimate of $200.73 million. During the same quarter last year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was down 17.3% on a year-over-year basis. On average, research analysts forecast that Janus International Group, Inc. will post 0.54 EPS for the current year.

Janus International Group announced that its board has approved a share repurchase plan on Thursday, May 15th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Janus International Group Profile

Janus International Group, Inc manufacturers and supplies turn-key self-storage, and commercial and industrial building solutions in North America and internationally. The company offers roll up and swing doors, hallway systems, relocatable storage moveable additional storage structures units, and other solutions.