KBC Group NV Increases Stake in Janus International Group, Inc.

KBC Group NV has significantly increased its investment in Janus International Group, Inc. (NYSE:JBI) by 102.9% during the fourth quarter, according to the latest 13F filing with the Securities and Exchange Commission. Following this move, KBC Group NV now holds 8,867 shares of Janus International's stock after acquiring an additional 4,496 shares during the quarter. The value of these shares amounted to approximately $65,000 based on the recent SEC filing.

Other hedge funds have also made notable adjustments to their positions in Janus International Group. For instance, Principal Financial Group Inc. raised its holdings by an impressive 854.2% in the third quarter. It now owns 182,876 shares valued at around $1,849,000 after adding 163,711 shares in the last quarter. Similarly, Royce & Associates LP increased its stake by 21.5%, bringing its total to 1,224,593 shares worth about $12,381,000 after purchasing 216,382 additional shares in the same period.

River Road Asset Management LLC entered the scene by acquiring a new stake in Janus International Group within the third quarter, valued at approximately $8,256,000. Bernzott Capital Advisors enhanced its investment as well, increasing their stake by 32.7% to own 693,343 shares valued at around $7,010,000 after acquiring 171,038 additional shares. Lastly, JPMorgan Chase & Co. raised its holdings by 6.5%, now owning 7,125,266 shares worth approximately $72,036,000 following an increase of 435,721 shares in that quarter. Currently, institutional and hedge funds collectively own 88.78% of Janus International Group’s stock.

Analyst Recommendations

A number of analysts have shared their insights on Janus International Group's stock. Jefferies Financial Group downgraded the company from a "buy" to a "hold" rating, with a revised target price cut from $12.00 to $7.50. KeyCorp also lowered its price target from $13.00 to $11.00 while maintaining an "overweight" rating. Additionally, UBS Group adjusted its target down from $12.00 to $8.50, labeling it a "neutral" investment. Presently, three research analysts hold a "hold" rating, while two analysts suggest a buy rating. According to MarketBeat, the consensus rating for the stock stands at "Hold," with an average target price of $10.25.

Stock Performance Overview

As of Tuesday, shares of Janus International Group, Inc. (NYSE:JBI) opened at $8.25. The stock has witnessed a 12-month range, with a low point of $6.68 and a high of $15.86. The current market capitalization of the company is approximately $1.16 billion, and it has a price-to-earnings ratio of 11.45, accompanied by a beta of 0.92. The business's 50-day moving average stands at $7.67, while the two-hundred-day moving average is at $9.07. Financial metrics reveal a quick ratio of 2.39, a current ratio of 2.80, and a debt-to-equity ratio of 1.11.

Company Background

Janus International Group, Inc. specializes in manufacturing and supplying complete solutions for self-storage facilities, as well as commercial and industrial building solutions on both domestic and international fronts. Their product offerings include roll-up and swing doors, hallway systems, relocatable storage units, and various other related solutions.

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