Envestnet Asset Management Inc. Boosts Stock Position in James Hardie Industries PLC. (NYSE:JHX)

Key Points

• Envestnet Asset Management Inc. increased its ownership in James Hardie Industries PLC by 21.4%, acquiring an additional 19,392 shares, bringing its total to 110,133 shares valued at approximately $2,595,000.
• Several institutional investors have significantly adjusted their stakes in James Hardie, including Northern Trust Corp, which raised its holdings by 76.3% to 374,164 shares valued at $11,528,000.
• Despite a quarterly earnings report showing a slight miss on EPS estimates and a revenue decline of 3.3% year-over-year, James Hardie has a consensus rating of "Buy" with an average target price of $37.34.

Envestnet Asset Management Inc. increased its stake in shares of James Hardie Industries PLC. (NYSE:JHX - Free Report) by 21.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,133 shares of the construction company's stock after acquiring an additional 19,392 shares during the period. Envestnet Asset Management Inc.'s holdings in James Hardie Industries were worth $2,595,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Aquatic Capital Management LLC bought a new stake in shares of James Hardie Industries during the 4th quarter worth about $55,000. Huntington National Bank boosted its holdings in James Hardie Industries by 64.7% in the 4th quarter. Huntington National Bank now owns 2,260 shares of the construction company's stock valued at $70,000 after purchasing an additional 888 shares during the period. Legal & General Group Plc boosted its holdings in James Hardie Industries by 98.0% in the 4th quarter. Legal & General Group Plc now owns 5,049 shares of the construction company's stock valued at $156,000 after purchasing an additional 2,499 shares during the period. Russell Investments Group Ltd. boosted its holdings in James Hardie Industries by 9.5% in the 4th quarter. Russell Investments Group Ltd. now owns 5,220 shares of the construction company's stock valued at $161,000 after purchasing an additional 453 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in James Hardie Industries by 854.5% in the 1st quarter. Versant Capital Management Inc now owns 7,875 shares of the construction company's stock valued at $186,000 after purchasing an additional 7,050 shares during the period. 7.96% of the stock is currently owned by institutional investors and hedge funds.

James Hardie Industries Price Performance

NYSE:JHX traded up $0.30 during mid-day trading on Friday, hitting $26.24. 673,261 shares of the stock traded hands, compared to its average volume of 3,256,161. James Hardie Industries PLC. has a 12-month low of $19.72 and a 12-month high of $43.57. The company has a market cap of $11.28 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.80 and a beta of 1.75. The company has a quick ratio of 1.67, a current ratio of 2.10 and a debt-to-equity ratio of 0.51. The business's 50-day moving average price is $26.13 and its 200 day moving average price is $27.42.

James Hardie Industries (NYSE:JHX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The construction company reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). The business had revenue of $971.50 million during the quarter, compared to the consensus estimate of $983.86 million. James Hardie Industries had a return on equity of 31.52% and a net margin of 10.94%. The company's revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.61 earnings per share. On average, analysts expect that James Hardie Industries PLC. will post 1.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

JHX has been the subject of a number of recent analyst reports. Truist Financial cut their price target on shares of James Hardie Industries from $45.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Macquarie raised shares of James Hardie Industries from a "neutral" rating to an "outperform" rating in a report on Monday. Robert W. Baird initiated coverage on shares of James Hardie Industries in a report on Friday, July 11th. They set an "outperform" rating and a $32.00 price target for the company. Wall Street Zen downgraded shares of James Hardie Industries from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, Baird R W raised shares of James Hardie Industries to a "strong-buy" rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, James Hardie Industries presently has an average rating of "Buy" and an average target price of $37.34.

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.