Capital World Investors Buys New Position in James Hardie Industries PLC. $JHX

Key Points

• Capital World Investors initiated a new position of 4,483,117 shares in James Hardie, worth about $86.1 million and representing roughly 1.04% ownership.
• Analysts are broadly positive with 12 Buy and 4 Hold ratings, a consensus target of $26.71, and several recent upgrades and price-target increases (some to $30).
• James Hardie recently reported a slight EPS beat ($0.24 vs. $0.23) with revenue up 30.1% YoY; the stock has a market cap of $8.46B and a high P/E of 72.85.

Capital World Investors purchased a new position in shares of James Hardie Industries PLC. (NYSE:JHX - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,483,117 shares of the construction company's stock, valued at approximately $86,121,000. Capital World Investors owned about 1.04% of James Hardie Industries at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in shares of James Hardie Industries by 7.0% during the third quarter. Jones Financial Companies Lllp now owns 8,029 shares of the construction company's stock valued at $151,000 after buying an additional 525 shares during the period. Greenleaf Trust grew its stake in James Hardie Industries by 7.1% in the 3rd quarter. Greenleaf Trust now owns 10,645 shares of the construction company's stock worth $204,000 after acquiring an additional 703 shares during the period. Osaic Holdings Inc. raised its holdings in James Hardie Industries by 67.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,576 shares of the construction company's stock valued at $67,000 after acquiring an additional 1,034 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of James Hardie Industries by 13.3% during the 3rd quarter. Blue Trust Inc. now owns 10,211 shares of the construction company's stock worth $196,000 after purchasing an additional 1,202 shares during the period. Finally, MAI Capital Management lifted its stake in shares of James Hardie Industries by 4,266.7% during the 2nd quarter. MAI Capital Management now owns 1,310 shares of the construction company's stock worth $35,000 after purchasing an additional 1,280 shares during the period. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on JHX shares. Vertical Research raised James Hardie Industries from a "hold" rating to a "buy" rating and set a $21.00 price objective for the company in a research report on Wednesday, November 19th. Oppenheimer increased their target price on James Hardie Industries from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 19th. Truist Financial lifted their price target on James Hardie Industries from $28.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. Barclays upped their price objective on shares of James Hardie Industries from $21.00 to $26.00 and gave the company an "equal weight" rating in a research note on Thursday, February 12th. Finally, Zacks Research lowered shares of James Hardie Industries from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 17th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, James Hardie Industries presently has an average rating of "Moderate Buy" and an average target price of $26.71.

James Hardie Industries Price Performance

Shares of James Hardie Industries stock opened at $19.67 on Friday. The business's fifty day moving average price is $23.43 and its 200 day moving average price is $21.15. James Hardie Industries PLC. has a twelve month low of $16.46 and a twelve month high of $32.69. The company has a current ratio of 1.54, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $8.46 billion, a P/E ratio of 72.85, a PEG ratio of 4.59 and a beta of 1.78.

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

James Hardie Industries Profile

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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