D.A. Davidson & CO. Takes Position in James Hardie Industries PLC. $JHX

Key Points

• D.A. Davidson & Co. opened a new position in James Hardie Industries during the first quarter, buying 135,195 shares valued at about $2.56 million.
• The stock was down 3.1% to $25.01, while the company’s market cap stood at $14.52 billion and it traded above both its 50-day and 200-day moving averages.
• James Hardie recently beat quarterly EPS estimates by a penny, and analysts now have a Moderate Buy consensus with an average price target of $27.00.

D.A. Davidson & CO. acquired a new stake in James Hardie Industries PLC. (NYSE:JHX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 135,195 shares of the construction company's stock, valued at approximately $2,561,000.

A number of other hedge funds also recently added to or reduced their stakes in JHX. Wellington Management Group LLP grew its stake in shares of James Hardie Industries by 259.7% in the third 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 in the last quarter. JPMorgan Chase & Co. grew its stake in James Hardie Industries by 22.2% during the 4th quarter. JPMorgan Chase & Co. now owns 9,690,174 shares of the construction company's stock worth $201,071,000 after purchasing an additional 1,758,111 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in James Hardie Industries by 14.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 5,166,115 shares of the construction company's stock worth $107,197,000 after purchasing an additional 634,354 shares during the period. Hill City Capital LP raised its position in James Hardie Industries by 21.4% in the 4th quarter. Hill City Capital LP now owns 5,120,200 shares of the construction company's stock valued at $106,244,000 after purchasing an additional 901,700 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in James Hardie Industries in the 4th quarter valued at about $77,530,000. 7.96% of the stock is currently owned by institutional investors and hedge funds.

James Hardie Industries Stock Down 3.1%

James Hardie Industries stock opened at $25.01 on Tuesday. The stock has a market cap of $14.52 billion, a PE ratio of 113.70 and a beta of 1.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.58 and a quick ratio of 1.03. The stock's fifty day moving average is $23.66 and its two-hundred day moving average is $22.58. James Hardie Industries PLC. has a 1-year low of $16.46 and a 1-year high of $29.83.

James Hardie Industries (NYSE:JHX - Get Free Report) last released its quarterly earnings data on Wednesday, May 20th. The construction company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. James Hardie Industries had a return on equity of 11.13% and a net margin of 2.15%.The business had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same period in the prior year, the firm posted $0.36 EPS. The business's quarterly revenue was up 44.5% compared to the same quarter last year. On average, sell-side analysts expect that James Hardie Industries PLC. will post 1.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

JHX has been the topic of a number of recent research reports. Zacks Research upgraded shares of James Hardie Industries from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Barclays lifted their price target on shares of James Hardie Industries from $21.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 14th. Finally, Stephens started coverage on shares of James Hardie Industries in a report on Thursday, June 25th. They set an "overweight" rating and a $31.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.00.

James Hardie Industries Company 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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