Beaconlight Capital LLC Buys 172,332 Shares of James Hardie Industries PLC. $JHX

Beaconlight Capital LLC lifted its stake in shares of James Hardie Industries PLC. (NYSE:JHX - Free Report) by 112.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,195 shares of the construction company's stock after purchasing an additional 172,332 shares during the quarter. James Hardie Industries comprises 3.0% of Beaconlight Capital LLC's investment portfolio, making the stock its 9th biggest holding. Beaconlight Capital LLC owned about 0.06% of James Hardie Industries worth $8,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in JHX. Wellington Management Group LLP raised its stake in 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 buying an additional 36,567,726 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of James Hardie Industries by 22.2% during the fourth quarter. JPMorgan Chase & Co. now owns 9,690,174 shares of the construction company's stock valued at $201,071,000 after acquiring an additional 1,758,111 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of James Hardie Industries by 12.3% during the second quarter. Alyeska Investment Group L.P. now owns 8,737,905 shares of the construction company's stock valued at $228,758,000 after acquiring an additional 954,317 shares in the last quarter. Hill City Capital LP raised its position in shares of James Hardie Industries by 1.8% during the second quarter. Hill City Capital LP now owns 5,723,900 shares of the construction company's stock worth $149,852,000 after purchasing an additional 102,200 shares during the period. Finally, RDST Capital LLC raised its position in shares of James Hardie Industries by 24.0% during the second quarter. RDST Capital LLC now owns 4,015,067 shares of the construction company's stock worth $105,114,000 after purchasing an additional 776,950 shares during the period. 7.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Stephens increased their target price on James Hardie Industries from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Truist Financial upped their price objective on shares of James Hardie Industries from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Barclays upgraded shares of James Hardie Industries from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $26.00 to $35.00 in a report on Monday, August 10th. Robert W. Baird set a $34.00 price objective on shares of James Hardie Industries in a report on Friday, August 7th. Finally, Raymond James Financial set a $35.00 target price on shares of James Hardie Industries in a research report on Monday, August 10th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.50.

James Hardie Industries Trading Up 0.1%

NYSE JHX opened at $29.95 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.03 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $27.36 and a 200 day simple moving average of $23.75. James Hardie Industries PLC. has a 12 month low of $16.46 and a 12 month high of $31.35. The firm has a market capitalization of $17.38 billion, a P/E ratio of 119.80, a PEG ratio of 2.57 and a beta of 1.77.

James Hardie Industries (NYSE:JHX - Get Free Report) last posted its earnings results on Thursday, August 6th. The construction company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.42 billion. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The company's quarterly revenue was up 63.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 EPS. On average, analysts predict that James Hardie Industries PLC. will post 1.41 EPS for the current fiscal year.

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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