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Jeff Gates, Gates Capital Buy Near 5% of Headwaters

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 Inc (NYSE:HW)

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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Disclosure: none