Cubist Systematic Strategies LLC Takes $439,000 Position in James Hardie Industries PLC. $JHX

Key Points

• Cubist Systematic Strategies LLC has made a new investment in James Hardie Industries PLC, acquiring 18,618 shares valued at approximately $439,000 during the first quarter of the year.
• James Hardie Industries reported a quarterly EPS of $0.29, missing analysts' expectations of $0.36, along with a revenue decline of 9.3% year-over-year.
• Research analysts have a generally positive outlook on James Hardie Industries, with one giving a Strong Buy rating and an average price target of $33.27.

Cubist Systematic Strategies LLC purchased a new stake in James Hardie Industries PLC. (NYSE:JHX - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 18,618 shares of the construction company's stock, valued at approximately $439,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of James Hardie Industries by 19.4% in the fourth quarter. Bank of America Corp DE now owns 453,206 shares of the construction company's stock valued at $13,963,000 after purchasing an additional 73,504 shares in the last quarter. Private Advisory Group LLC acquired a new position in shares of James Hardie Industries in the first quarter valued at approximately $9,345,000. GAMMA Investing LLC grew its holdings in shares of James Hardie Industries by 2,189.1% in the first quarter. GAMMA Investing LLC now owns 32,207 shares of the construction company's stock valued at $759,000 after purchasing an additional 30,800 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of James Hardie Industries by 39.3% in the first quarter. Cerity Partners LLC now owns 46,083 shares of the construction company's stock valued at $1,086,000 after purchasing an additional 12,990 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of James Hardie Industries by 7.4% in the first quarter. Bank of New York Mellon Corp now owns 55,944 shares of the construction company's stock valued at $1,318,000 after purchasing an additional 3,838 shares in the last quarter. 7.96% of the stock is owned by hedge funds and other institutional investors.

James Hardie Industries Stock Down 2.5%

NYSE JHX traded down $0.51 on Tuesday, hitting $19.63. 4,383,289 shares of the stock were exchanged, compared to its average volume of 12,286,082. The company has a 50-day moving average price of $24.45 and a 200-day moving average price of $25.13. James Hardie Industries PLC. has a fifty-two week low of $17.91 and a fifty-two week high of $43.57. The company has a quick ratio of 3.31, a current ratio of 3.76 and a debt-to-equity ratio of 1.12. The company has a market cap of $8.44 billion, a PE ratio of 25.49, a PEG ratio of 2.37 and a beta of 1.74.

James Hardie Industries (NYSE:JHX - Get Free Report) last issued its earnings results 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). James Hardie Industries had a net margin of 8.75% and a return on equity of 27.95%. The company had revenue of $899.90 million during the quarter, compared to analyst estimates of $982.60 million. During the same quarter in the previous year, the company posted $0.41 EPS. The company's quarterly revenue was down 9.3% on a year-over-year basis. Sell-side analysts anticipate that James Hardie Industries PLC. will post 1.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of James Hardie Industries in a report on Friday, August 8th. They issued a "buy" rating and a $34.00 price objective for the company. UBS Group restated a "neutral" rating on shares of James Hardie Industries in a report on Thursday, August 21st. Truist Financial dropped their price objective on shares of James Hardie Industries from $35.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Robert W. Baird lowered their price target on shares of James Hardie Industries from $32.00 to $25.00 and set an "outperform" rating for the company in a report on Wednesday, August 20th. Finally, Baird R W upgraded shares of James Hardie Industries to a "strong-buy" rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $33.27.

About James Hardie Industries

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.