Ethic Inc. Has $1.88 Million Holdings in James Hardie Industries plc (NYSE:JHX)

Ethic Inc. cut its position in shares of James Hardie Industries plc (NYSE:JHX - Free Report) by 24.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,025 shares of the construction company's stock after selling 19,903 shares during the quarter. Ethic Inc.'s holdings in James Hardie Industries were worth $1,880,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Northern Trust Corp raised its holdings in shares of James Hardie Industries by 76.3% during the fourth quarter. Northern Trust Corp now owns 374,164 shares of the construction company's stock valued at $11,528,000 after acquiring an additional 161,899 shares during the period. Bank of America Corp DE grew its position in James Hardie Industries by 19.4% during the 4th quarter. Bank of America Corp DE now owns 453,206 shares of the construction company's stock worth $13,963,000 after purchasing an additional 73,504 shares in the last quarter. Jane Street Group LLC raised its stake in James Hardie Industries by 184.4% during the 4th quarter. Jane Street Group LLC now owns 86,531 shares of the construction company's stock valued at $2,666,000 after purchasing an additional 56,104 shares during the period. ABC Arbitrage SA purchased a new stake in shares of James Hardie Industries in the fourth quarter valued at $1,457,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of James Hardie Industries in the fourth quarter valued at $1,100,000. 7.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JHX has been the topic of a number of research analyst reports. Morgan Stanley upgraded James Hardie Industries from an "equal weight" rating to an "overweight" rating in a report on Monday, March 24th. Bank of America raised James Hardie Industries from an "underperform" rating to a "buy" rating and lowered their target price for the company from $27.40 to $27.35 in a research note on Thursday, March 27th. StockNews.com raised shares of James Hardie Industries from a "hold" rating to a "buy" rating in a research report on Friday, March 21st. Truist Financial set a $45.00 price objective on shares of James Hardie Industries in a research report on Monday, March 24th. Finally, Macquarie downgraded shares of James Hardie Industries from an "outperform" rating to a "neutral" rating in a research report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.45.

James Hardie Industries Stock Performance

Shares of JHX opened at $25.41 on Tuesday. The company has a market capitalization of $10.92 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 6.16 and a beta of 1.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.18 and a quick ratio of 1.50. James Hardie Industries plc has a one year low of $19.72 and a one year high of $43.57. The company's fifty day moving average price is $25.07 and its 200 day moving average price is $30.36.

James Hardie Industries (NYSE:JHX - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. The company had revenue of $953.30 million for the quarter, compared to the consensus estimate of $967.63 million. As a group, analysts expect that James Hardie Industries plc will post 1.39 earnings per share for the current year.

James Hardie Industries Profile

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.

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