Norges Bank Buys New Position in Hayward Holdings, Inc. (NYSE:HAYW)

Norges Bank purchased a new position in shares of Hayward Holdings, Inc. (NYSE:HAYW) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 427,602 shares of the company’s stock, valued at approximately $6,538,000. Norges Bank owned about 0.20% of Hayward as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Hayward by 8.0% during the third quarter. Geode Capital Management LLC now owns 2,232,773 shares of the company’s stock worth $34,260,000 after purchasing an additional 165,369 shares during the last quarter. State Street Corp lifted its position in Hayward by 8.5% during the 3rd quarter. State Street Corp now owns 4,355,277 shares of the company’s stock worth $66,810,000 after buying an additional 341,424 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Hayward by 7.2% during the 3rd quarter. Principal Financial Group Inc. now owns 668,396 shares of the company’s stock worth $10,253,000 after buying an additional 44,978 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Hayward by 53.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 57,401 shares of the company’s stock valued at $878,000 after acquiring an additional 19,983 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in shares of Hayward in the fourth quarter valued at about $287,000.

Hayward Stock Performance

HAYW opened at $11.29 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.70. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.87 and a beta of 1.14. Hayward Holdings, Inc. has a 12-month low of $11.10 and a 12-month high of $16.87. The business has a 50 day moving average of $14.08 and a 200-day moving average of $14.97.

Hayward (NYSE:HAYW) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. Hayward had a return on equity of 9.93% and a net margin of 9.47%. The business had revenue of $327.08 million during the quarter, compared to the consensus estimate of $302.76 million. On average, equities research analysts expect that Hayward Holdings, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Kevin Holleran sold 50,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $14.52, for a total transaction of $726,000.00. Following the transaction, the chief executive officer now owns 522,799 shares in the company, valued at approximately $7,591,041.48. This trade represents a 8.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on HAYW shares. Robert W. Baird raised their price target on Hayward from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. KeyCorp reissued a “sector weight” rating on shares of Hayward in a research note on Monday, January 6th. Wolfe Research lowered shares of Hayward from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Finally, Stifel Nicolaus raised shares of Hayward from a “hold” rating to a “buy” rating and set a $16.50 price objective for the company in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Hayward has a consensus rating of “Hold” and a consensus target price of $17.13.

Hayward Company Profile

Hayward Holdings, Inc designs, manufactures, and markets a portfolio of pool equipment and associated automation systems in North America, Europe, and internationally. The company offers pool equipment, including pumps, filters, robotics, suction and pressure cleaners, gas heaters and heat pumps, water features and landscape lighting, water sanitizers, salt chlorine generators, safety equipment, and in-floor automated cleaning systems, as well as LED illumination solutions.