Jeff Gates, Gates Capital:
Headwaters Inc (NYSE:HW
) has recently been added to the equity portfolio of Gates Capital Management
, a hedge fund managed by Jeffrey Gates. In a 13G filing with the Securities and Exchange Commission, Gates Capital Management reported ownership of almost 3.7 million shares of Headwaters Inc, the stake being equivalent to around 5% of the company. At the current price of Headwaters' stock, Gates' position in the company has a value worth almost $32 million.
Headwaters posted an income of $9.3 million, equivalent to $0.13 per diluted share for the third quarter of fiscal 2013, which shows a surge from the last year's amount of $2.0 million. The company also managed to increase its revenues by 12% on the year, to $197 million. For the whole fiscal 2013, Headwaters forecasts its EBITDA to be situated between $110 million and $125 million, the company said in a statement.
We should also mention some other hedgies that are bullish on Headwaters, according to Insider Monkey's database. Eric Edidin and Josh Lobel's Archer Capital Management
, which disclosed ownership of around 3.1 million shares, Jim Simons' Renaissance Technologies
, and First Eagle Investment Management
are long, in addition to Jeff Gates and Gates Capital..
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