James Hardie Industries PLC. $JHX Shares Sold by Ethic Inc.

Key Points

• Ethic Inc. reduced its stake in James Hardie Industries PLC by 27.4%, selling 16,698 shares and holding 44,327 shares valued at approximately $1,025,000.
• Several institutional investors increased their stakes in James Hardie Industries, with notable increases including Versant Capital Management by 854.5% and AdvisorNet Financial by 672.7% in the latest quarters.
• James Hardie Industries reported earnings of $0.29 per share for the last quarter, missing estimates by $0.07, with a significant revenue decline of 9.3% year-over-year.

Ethic Inc. trimmed its position in James Hardie Industries PLC. (NYSE:JHX - Free Report) by 27.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,327 shares of the construction company's stock after selling 16,698 shares during the quarter. Ethic Inc.'s holdings in James Hardie Industries were worth $1,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC acquired a new position in James Hardie Industries in the fourth quarter worth $55,000. Legal & General Group Plc lifted its position in shares of 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 worth $156,000 after buying an additional 2,499 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of 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 buying an additional 453 shares during the period. Versant Capital Management Inc grew its position in shares of James Hardie Industries by 854.5% during the 1st quarter. Versant Capital Management Inc now owns 7,875 shares of the construction company's stock valued at $186,000 after buying an additional 7,050 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its position in shares of James Hardie Industries by 672.7% during the 1st quarter. AdvisorNet Financial Inc now owns 8,500 shares of the construction company's stock valued at $200,000 after buying an additional 7,400 shares during the last quarter. 7.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

JHX has been the subject of a number of research reports. Macquarie upgraded James Hardie Industries from a "neutral" rating to an "outperform" rating in a research note on Monday, July 28th. Jefferies Financial Group initiated coverage on James Hardie Industries in a report on Friday, August 8th. They issued a "buy" rating and a $34.00 price target on the stock. Wall Street Zen downgraded James Hardie Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Truist Financial cut their target price on James Hardie Industries from $35.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Finally, Baird R W raised 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 company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $33.27.

James Hardie Industries Stock Performance

Shares of NYSE:JHX traded down $0.64 on Monday, hitting $19.87. The company's stock had a trading volume of 10,657,128 shares, compared to its average volume of 10,141,279. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 2.48 and a beta of 1.74. The company has a debt-to-equity ratio of 1.12, a quick ratio of 3.31 and a current ratio of 3.76. James Hardie Industries PLC. has a 12 month low of $17.91 and a 12 month high of $43.57. The stock's 50-day moving average is $26.51 and its two-hundred day moving average is $26.45.

James Hardie Industries (NYSE:JHX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The construction company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.07). The company had revenue of $899.90 million for the quarter, compared to the consensus estimate of $982.60 million. James Hardie Industries had a net margin of 8.75% and a return on equity of 27.95%. James Hardie Industries's revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 earnings per share. On average, equities research analysts forecast that James Hardie Industries PLC. will post 1.39 EPS for the current year.

James Hardie Industries Profile

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.