In a recent transaction on July 16, Susan M. Canning, the Senior Vice President, Chief Legal Officer, and Corporate Secretary of Hayward Holdings, Inc. (NYSE:HAYW), sold 5,028 shares of the company's common stock. The sale was executed at a price of $14.0 per share, amounting to a total value of $70,392.
The transaction has adjusted Canning's direct holdings in Hayward Holdings to 67,904 shares. Additionally, an indirect holding of 535.43 shares is maintained by Canning's children, as per the latest disclosure with the Securities and Exchange Commission.
Hayward Holdings, Inc., based in Charlotte, North Carolina, operates in the refrigeration and service industry machinery sector. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol HAYW.
The sale by a high-ranking executive is often of interest to current and potential investors as it may reflect the executive's confidence in the company's current valuation and future prospects. However, it is important to note that there can be various personal or financial reasons behind an executive's decision to sell shares, which are not necessarily indicative of the company's performance.
Investors and stakeholders of Hayward Holdings, Inc. can access further details of this transaction and others through the company's SEC filings and public disclosures.
In other recent news, Hayward Holdings has reported a slight increase in Q1 2024 earnings, with net sales growing 1% year-over-year to $213 million. The company also expanded its gross profit margins to 49.2% and adjusted EBITDA margin to 21.2%. Hayward's recent acquisition of ChlorKing, a leader in commercial pool saline chlorinators and UV disinfection systems, is set to expand the company's commercial product range and emphasize its commitment to sustainable water treatment solutions.
The acquisition also presents an opportunity for ChlorKing's technologies, which include the first pH-neutral chlorine generators and hypochlorous acid generators, to reach a wider audience. Despite market difficulties, Hayward maintains its full-year guidance, forecasting net sales to increase by 2% to 7% and adjusted EBITDA to climb by 3% to 11% for the year.
The company has also made strategic moves such as launching two new robotic cleaners and making a significant early debt repayment. Despite disruptions in Europe and weaker market conditions in Canada, the company remains optimistic about its long-term growth prospects in the pool industry. These are the recent developments for Hayward Holdings.
InvestingPro Insights
Hayward Holdings, Inc. (NYSE:HAYW) has recently been under the spotlight due to the insider transaction by Susan M. Canning. Investors looking to understand the company's financial health and future prospects might find the following metrics and InvestingPro Tips valuable. As of the last twelve months as of Q1 2024, Hayward Holdings has demonstrated an impressive gross profit margin of 48.61%, highlighting the company's ability to maintain profitability in its operations. Furthermore, the company's liquidity position appears robust, with liquid assets surpassing short-term obligations, which can be reassuring for stakeholders concerned about the company's financial resilience.
On the valuation front, Hayward Holdings is trading at a high earnings multiple, with an adjusted P/E ratio of 31.77, suggesting that the market currently has high expectations for the company's earnings growth potential. Additionally, the company has seen a significant return over the last week, with a price total return of 10.48%, potentially indicating a positive market sentiment.
For those considering an investment in Hayward Holdings, it is worth noting that, despite some analysts revising their earnings downwards for the upcoming period, the overall consensus still predicts the company will be profitable this year. This outlook is bolstered by the company's performance over the last twelve months, where it has remained profitable. However, it should be noted that Hayward Holdings does not pay a dividend to shareholders, which might influence the investment decisions of those seeking regular income.
For more in-depth analysis and additional InvestingPro Tips, such as the company's fair value estimations and detailed financial forecasts, interested readers can visit InvestingPro. There are currently 7 additional tips available for Hayward Holdings, Inc., which can be accessed along with an array of other valuable investment tools. Remember to use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription at InvestingPro.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.