PineStone Asset Management Inc. Increases Holdings in Hayward Holdings, Inc. $HAYW

PineStone Asset Management Inc. boosted its stake in Hayward Holdings, Inc. (NYSE:HAYW) by 14.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 595,200 shares of the company’s stock after purchasing an additional 73,900 shares during the period. PineStone Asset Management Inc. owned approximately 0.27% of Hayward worth $8,999,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of HAYW. CWM LLC boosted its position in shares of Hayward by 39.7% in the third quarter. CWM LLC now owns 79,997 shares of the company’s stock worth $1,210,000 after buying an additional 22,731 shares during the period. ZWJ Investment Counsel Inc. acquired a new position in Hayward during the 3rd quarter worth approximately $247,000. Yousif Capital Management LLC boosted its holdings in Hayward by 15.3% in the 3rd quarter. Yousif Capital Management LLC now owns 61,866 shares of the company’s stock worth $935,000 after acquiring an additional 8,196 shares during the period. Brighton Jones LLC grew its position in Hayward by 51.2% in the third quarter. Brighton Jones LLC now owns 16,041 shares of the company’s stock valued at $243,000 after acquiring an additional 5,430 shares in the last quarter. Finally, Steph & Co. purchased a new stake in shares of Hayward during the third quarter valued at approximately $41,000.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on HAYW shares. Weiss Ratings restated a “hold (c)” rating on shares of Hayward in a research note on Monday, December 22nd. Stifel Nicolaus upped their price objective on shares of Hayward from $17.50 to $18.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, Zacks Research upgraded Hayward from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Hayward presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Insider Activity

In other news, CEO Kevin Holleran sold 60,571 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $16.13, for a total value of $977,010.23. Following the completion of the sale, the chief executive officer directly owned 623,540 shares in the company, valued at approximately $10,057,700.20. The trade was a 8.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Eifion Jones sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $17.50, for a total value of $437,500.00. Following the sale, the chief financial officer directly owned 287,231 shares in the company, valued at approximately $5,026,542.50. This represents a 8.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 206,713 shares of company stock valued at $3,346,725. 5.06% of the stock is owned by corporate insiders.

Hayward Trading Down 0.0%

HAYW opened at $15.95 on Friday. Hayward Holdings, Inc. has a 12-month low of $11.10 and a 12-month high of $17.73. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.18 and a quick ratio of 2.31. The stock has a market capitalization of $3.46 billion, a PE ratio of 25.72, a P/E/G ratio of 1.67 and a beta of 1.12. The firm’s fifty day moving average price is $15.96 and its 200 day moving average price is $15.39.

Hayward (NYSE:HAYW) last released its earnings results on Wednesday, October 29th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $244.34 million during the quarter, compared to the consensus estimate of $231.46 million. Hayward had a net margin of 12.54% and a return on equity of 11.24%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 EPS. As a group, research analysts expect that Hayward Holdings, Inc. will post 0.6 EPS for the current fiscal year.

About Hayward

Hayward Holdings, Inc is a leading manufacturer and marketer of residential and commercial swimming pool equipment and related outdoor living products. The company designs, engineers and produces a comprehensive range of products that address water circulation, filtration, heating, sanitation, automation, lighting and cleaning needs for pools and spas. Hayward’s offerings include pumps, filters, heaters, salt and chemical sanitization systems, automation controls, lights, robotic cleaners and various accessories that serve both new pool construction and aftermarket renovation markets.

Hayward’s product portfolio is organized into several core categories.