Hayward Holdings Inc. (NYSE:HAYW) CEO Kevin Holleran has completed a sale of company shares on June 5, according to the latest SEC filings. Holleran sold 42,857 shares of Hayward Holdings at a weighted average price ranging from $13.91 to $14.05, with the total transaction amounting to approximately $598,352.
The transaction was part of a series of trades that included both the acquisition and disposal of shares. Notably, the CEO also acquired the same number of shares through the exercise of stock options at a price of $1.40 per share, costing a total of $59,999. Following these transactions, Holleran now directly owns 522,799 shares in the company.
The sales transactions were executed at varying prices, indicating a weighted average selling price of $13.9616 per share. This information was detailed in a footnote in the SEC filing, which also stated that Holleran is willing to provide full information regarding the number of shares sold at each separate price within the specified range upon request.
Investors and interested parties can find further details on the recent trading activity by reviewing the Form 4 filed with the Securities and Exchange Commission. Hayward Holdings, based in Charlotte, North Carolina, specializes in refrigeration and service industry machinery and is listed under the industrial classification of Refrigeration & Service Industry Machinery [3580].
The transactions come at a time when insider trading movements are closely watched by the market as potential indicators of a company's performance and direction. While the SEC filing provides a snapshot of Holleran's trades, it does not necessarily reflect broader company strategies or insider confidence.
In other recent news, Hayward Holdings has demonstrated steady growth in Q1 2024, reporting a 1% year-over-year increase in net sales to $213 million. The company has also improved its gross profit margins to 49.2% and adjusted EBITDA margin to 21.2%. Hayward Holdings holds its full-year guidance steady, projecting a growth in net sales by 2% to 7% and an increase in adjusted EBITDA by 3% to 11%.
In terms of strategic moves, the company introduced two new robotic cleaners and made a significant voluntary early debt repayment. Despite market challenges, the company has maintained its strategic positioning, focusing on innovation, financial discipline, and market expansion.
Hayward Holdings also received the 2024 ENERGY STAR Partner of the Year Award and anticipates a free cash flow of approximately $160 million for the fiscal year 2024. The company is poised to capitalize on the pent-up demand for renovations in the pool industry. These developments highlight Hayward Holdings' commitment to delivering value to its stakeholders in the evolving pool industry landscape.
InvestingPro Insights
In light of Hayward Holdings Inc. CEO Kevin Holleran's recent share transactions, current and prospective investors may find the following metrics and insights from InvestingPro particularly enlightening. As of the last twelve months as of Q1 2024, Hayward Holdings boasts an impressive gross profit margin of 48.61%, underscoring the company's efficiency in managing its production costs relative to its revenues. This figure, along with a reported gross profit of $483.64 million, reflects a robust financial health that could reassure stakeholders of the company's profitability.
An additional point of interest is Hayward Holdings' P/E ratio which stands at 35.29, with an adjusted P/E ratio for the same period at 31.63. Although this indicates that the company is trading at a high earnings multiple, which may suggest a premium valuation, it is important to note that analysts predict the company will be profitable this year. This anticipated profitability, coupled with the fact that Hayward Holdings has been profitable over the last twelve months, as evidenced by a basic EPS (Continuing Operations) of $0.38, may justify the current valuation to some investors.
Moreover, Hayward Holdings' liquid assets surpass its short-term obligations, which could be a reassuring factor for investors concerned about the company's ability to meet its immediate financial liabilities. This liquidity is a vital indicator of the company's financial resilience and operational flexibility.
For investors seeking a deeper dive into Hayward Holdings' financial health and future prospects, additional InvestingPro Tips are available at https://www.investing.com/pro/HAYW. These tips include insights on the company's dividend policy, as Hayward Holdings does not pay a dividend to shareholders, which could influence investment decisions depending on individual income strategies. In total, there are five additional InvestingPro Tips that can be accessed, offering a comprehensive analysis for informed decision-making. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and unlock the full potential of InvestingPro's expert financial analysis.
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