Castleark Management LLC purchased a new stake in shares of James Hardie Industries PLC. (NYSE:JHX - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 233,750 shares of the construction company's stock, valued at approximately $6,120,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP raised its holdings 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 valued at $972,981,000 after acquiring an additional 36,567,726 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of James Hardie Industries by 22.2% in the fourth quarter. JPMorgan Chase & Co. now owns 9,690,174 shares of the construction company's stock worth $201,071,000 after acquiring an additional 1,758,111 shares during the period. Hill City Capital LP grew its position in shares of James Hardie Industries by 1.8% in the second quarter. Hill City Capital LP now owns 5,723,900 shares of the construction company's stock valued at $149,852,000 after purchasing an additional 102,200 shares in the last quarter. Alyeska Investment Group L.P. grew its position in shares of James Hardie Industries by 14.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 5,166,115 shares of the construction company's stock valued at $107,197,000 after purchasing an additional 634,354 shares in the last quarter. Finally, RDST Capital LLC raised its stake in shares of James Hardie Industries by 24.0% during the 2nd quarter. RDST Capital LLC now owns 4,015,067 shares of the construction company's stock valued at $105,114,000 after purchasing an additional 776,950 shares during the period. 7.96% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on JHX shares. Oppenheimer increased their price objective on James Hardie Industries from $32.00 to $36.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Raymond James Financial set a $35.00 target price on James Hardie Industries in a report on Monday, August 10th. Barclays raised shares of James Hardie Industries from an "equal weight" rating to an "overweight" rating and increased their price target 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 research report on Friday, August 7th. Finally, Zacks Research raised shares of James Hardie Industries from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $32.50.
Check Out Our Latest Research Report on James Hardie Industries
James Hardie Industries Price Performance
James Hardie Industries stock opened at $30.38 on Wednesday. The stock has a market cap of $17.63 billion, a price-to-earnings ratio of 121.52, a PEG ratio of 2.60 and a beta of 1.77. The company has a quick ratio of 1.03, a current ratio of 1.59 and a debt-to-equity ratio of 0.66. The business has a 50-day simple moving average of $27.05 and a 200 day simple moving average of $23.60. James Hardie Industries PLC. has a 52 week low of $16.46 and a 52 week high of $31.35.
James Hardie Industries (NYSE:JHX - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.04. James Hardie Industries had a return on equity of 10.56% and a net margin of 2.69%.The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the company posted $0.29 EPS. The company's revenue for the quarter was up 63.9% on a year-over-year basis. On average, research analysts forecast that James Hardie Industries PLC. will post 1.41 earnings per share for the current fiscal year.
About James Hardie Industries
(
Free Report)
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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