Analysis of Fuller & Thaler Asset Management's Recent Stake Reduction in JELD-WEN Holding Inc

Overview of the Recent Transaction - On September 30, 2024, Fuller & Thaler Asset Management, Inc. reduced its holdings in JELD-WEN Holding Inc by 2,892,370 shares, resulting in a 37.34% decrease in their previous stake [1] - After the transaction, Fuller & Thaler holds a total of 4,853,971 shares in JELD-WEN, valued at $15.81 per share, impacting their portfolio by -0.2% [1] Insight into Fuller & Thaler Asset Management, Inc. - Founded in 1993 and based in San Mateo, California, Fuller & Thaler is an employee-owned investment management firm managing over $2.8 billion across 61 discretionary accounts [3] - The firm employs a bottom-up investment strategy, focusing on micro to small-cap growth and value stocks, particularly in financial services and industrials [3] About JELD-WEN Holding Inc - JELD-WEN, headquartered in the USA, specializes in manufacturing doors and windows and has a market capitalization of $1.35 billion [4] - The company has been assessed as "Fairly Valued" with a GF Value of $14.86, despite facing challenges in the market [4] Impact of the Trade on Fuller & Thaler's Portfolio - The reduction in JELD-WEN shares indicates a strategic realignment or risk reassessment by Fuller & Thaler, who now holds 5.74% of JELD-WEN's shares [5] Current Market Valuation and Stock Performance of JELD-WEN - JELD-WEN's stock trades at $15.94, slightly above its GF Value, with a year-to-date decline of 14.12% and a significant drop of 36.87% since its IPO [6] Comparative Industry Analysis - The construction sector, where JELD-WEN operates, faces challenges such as fluctuating material costs and economic cycles affecting demand [7] - JELD-WEN's strategic focus on diverse geographic segments helps mitigate some regional risks [7] Broader Implications of Fuller & Thaler's Trade - Fuller & Thaler's decision to reduce its stake in JELD-WEN may reflect broader market concerns or specific issues within the company, prompting investors to reassess the company's prospects [8] Other Significant Stakeholders - Other major investors in JELD-WEN include Pzena Investment Management LLC, HOTCHKIS & WILEY, First Eagle Investment, and Joel Greenblatt, each contributing to the dynamic investment landscape [9]