Ionic Capital Management LLC Invests $377,000 in James Hardie Industries PLC. $JHX

Key Points

• Ionic Capital Management LLC acquired 16,000 shares of James Hardie Industries PLC, valued at approximately $377,000, as part of its new stake in the company during the first quarter.
• James Hardie Industries received a mix of analyst rating changes, with Truist Financial and Robert W. Baird lowering their price targets, while Macquarie upgraded the stock to an "outperform" rating.
• The construction company reported a 9.3% year-over-year decline in quarterly revenue, missing consensus estimates, with earnings of $0.29 per share against an expected $0.36.

Ionic Capital Management LLC acquired a new position in James Hardie Industries PLC. (NYSE:JHX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,000 shares of the construction company's stock, valued at approximately $377,000.

A number of other institutional investors have also recently made changes to their positions in JHX. Citigroup Inc. raised its stake in James Hardie Industries by 59,775.3% in the 1st quarter. Citigroup Inc. now owns 5,325,912 shares of the construction company's stock worth $125,478,000 after acquiring an additional 5,317,017 shares during the last quarter. Wellington Management Group LLP purchased a new position in James Hardie Industries in the 1st quarter worth $90,526,000. Massachusetts Financial Services Co. MA purchased a new position in James Hardie Industries in the 1st quarter worth $87,858,000. Lazard Asset Management LLC raised its stake in James Hardie Industries by 20.0% in the 4th quarter. Lazard Asset Management LLC now owns 964,583 shares of the construction company's stock worth $29,718,000 after acquiring an additional 161,059 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in James Hardie Industries by 19.4% in the 4th quarter. Bank of America Corp DE now owns 453,206 shares of the construction company's stock worth $13,963,000 after acquiring an additional 73,504 shares during the last quarter. Institutional investors and hedge funds own 7.96% of the company's stock.

Wall Street Analyst Weigh In

JHX has been the subject of a number of recent research reports. UBS Group reiterated a "neutral" rating on shares of James Hardie Industries in a research note on Thursday, August 21st. Jefferies Financial Group initiated coverage on James Hardie Industries in a research note on Friday, August 8th. They set a "buy" rating and a $34.00 price objective for the company. Baird R W upgraded James Hardie Industries to a "strong-buy" rating in a research note on Friday, July 11th. Wall Street Zen lowered James Hardie Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Truist Financial cut their price target on James Hardie Industries from $35.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $33.27.

James Hardie Industries Price Performance

JHX stock traded up $0.66 during trading on Friday, hitting $20.20. The stock had a trading volume of 8,488,068 shares, compared to its average volume of 12,037,683. The company has a debt-to-equity ratio of 1.12, a current ratio of 3.76 and a quick ratio of 3.31. James Hardie Industries PLC. has a twelve month low of $17.91 and a twelve month high of $43.57. The stock has a market capitalization of $8.68 billion, a P/E ratio of 26.24, a PEG ratio of 2.38 and a beta of 1.75. The company's 50-day moving average price is $25.60 and its two-hundred day moving average price is $25.65.

James Hardie Industries (NYSE:JHX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The construction company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). The firm had revenue of $899.90 million during the quarter, compared to analyst estimates of $982.60 million. James Hardie Industries had a return on equity of 27.95% and a net margin of 8.75%.The company's quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. As a group, research analysts predict that James Hardie Industries PLC. will post 1.39 EPS for the current fiscal year.

James Hardie Industries Company 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.