Aristotle Capital Boston LLC Makes New Investment in James Hardie Industries PLC. $JHX

Key Points

• Aristotle Capital Boston LLC bought a new stake in James Hardie, acquiring 729,798 shares valued at about $14.02 million, representing roughly 0.17% of the company at the end of the reporting period.
• Wellington Management massively increased its position—up 259.7%—to 50,649,731 shares (≈$973 million), while other large inflows came from Phoenix Financial, Capital World Investors, and a large lift from Balyasny Asset Management.
• Company snapshot: James Hardie has a market cap of $8.43 billion, its latest quarter reported $0.24 EPS beating estimates with revenue up 30.1%, and analysts hold a consensus "Moderate Buy" rating with a $26.71 price target.

Aristotle Capital Boston LLC bought a new stake in James Hardie Industries PLC. (NYSE:JHX - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 729,798 shares of the construction company's stock, valued at approximately $14,019,000. Aristotle Capital Boston LLC owned 0.17% of James Hardie Industries at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of James Hardie Industries by 259.7% during the 3rd quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company's stock worth $972,981,000 after acquiring an additional 36,567,726 shares during the period. Massachusetts Financial Services Co. MA raised its stake in James Hardie Industries by 6.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,600,870 shares of the construction company's stock valued at $261,273,000 after acquiring an additional 882,795 shares during the period. Phoenix Financial Ltd. bought a new stake in James Hardie Industries in the 3rd quarter valued at about $105,839,000. Capital World Investors purchased a new stake in James Hardie Industries during the third quarter valued at about $86,121,000. Finally, Balyasny Asset Management L.P. lifted its holdings in James Hardie Industries by 1,883.6% during the second quarter. Balyasny Asset Management L.P. now owns 3,874,198 shares of the construction company's stock valued at $104,177,000 after purchasing an additional 3,678,889 shares during the last quarter. Hedge funds and other institutional investors own 7.96% of the company's stock.

James Hardie Industries Stock Down 0.2%

JHX stock opened at $19.62 on Friday. The stock has a 50-day simple moving average of $23.40 and a two-hundred day simple moving average of $21.16. James Hardie Industries PLC. has a twelve month low of $16.46 and a twelve month high of $32.69. The firm has a market capitalization of $8.43 billion, a PE ratio of 72.66, a PEG ratio of 4.38 and a beta of 1.78. The company has a quick ratio of 0.95, a current ratio of 1.54 and a debt-to-equity ratio of 0.73.

James Hardie Industries (NYSE:JHX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The construction company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. James Hardie Industries had a net margin of 2.70% and a return on equity of 13.52%. During the same period in the prior year, the business earned $0.36 EPS. The business's revenue was up 30.1% on a year-over-year basis. On average, equities analysts predict that James Hardie Industries PLC. will post 1.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on JHX shares. Zacks Research downgraded shares of James Hardie Industries from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. upgraded shares of James Hardie Industries from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 11th. Truist Financial raised their price objective on shares of James Hardie Industries from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Oppenheimer lifted their price objective on shares of James Hardie Industries from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Wednesday, November 19th. Finally, Robert W. Baird lowered their target price on shares of James Hardie Industries from $28.00 to $26.00 and set an "outperform" rating on the stock in a report on Wednesday, November 19th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.71.

About James Hardie Industries

James Hardie Industries plc NYSE: JHX is a global manufacturer of high-performance fiber cement building products. The company specializes in exterior cladding, trim and soffit, as well as interior backerboard solutions designed for residential and commercial construction. By combining cement, sand and cellulose fibers, James Hardie produces durable, low-maintenance materials that resist moisture, fire and termite damage, catering to builders, contractors and homeowners through a network of distributors and retail channels.

The company's flagship products include Hardie® Plank® and Hardie® Panel® siding systems, Hardie® BackerBoard® for tile applications, and a range of architectural trim solutions.

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