First Trust Advisors LP Has $230,000 Stock Holdings in James Hardie Industries PLC. $JHX

Key Points

• First Trust Advisors LP cut its James Hardie Industries stake by 96.1% in the first quarter, selling 296,163 shares and retaining 12,118 shares valued at approximately $230,000. Institutional investors own 7.96% of JHX.
• James Hardie reported quarterly EPS of $0.36, beating estimates of $0.32, while revenue rose 63.9% year over year to $1.47 billion, above expectations of $1.42 billion.
• Analyst sentiment remains favorable, with nine Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $32.50.

First Trust Advisors LP decreased its position in shares of James Hardie Industries PLC. (NYSE:JHX - Free Report) by 96.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,118 shares of the construction company's stock after selling 296,163 shares during the quarter. First Trust Advisors LP's holdings in James Hardie Industries were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in JHX. Wellington Management Group LLP boosted its position in shares of James Hardie Industries by 259.7% during the third quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company's stock valued at $972,981,000 after buying an additional 36,567,726 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in James Hardie Industries during the fourth quarter valued at about $77,530,000. RDST Capital LLC purchased a new stake in shares of James Hardie Industries during the 4th quarter worth approximately $55,893,000. Renaissance Technologies LLC purchased a new stake in James Hardie Industries in the fourth quarter worth $53,641,000. Finally, Alyeska Investment Group L.P. increased its holdings in James Hardie Industries by 100.9% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,531,761 shares of the construction company's stock worth $87,055,000 after acquiring an additional 2,275,762 shares during the last quarter. Institutional investors own 7.96% of the company's stock.

James Hardie Industries Stock Up 0.1%

JHX stock opened at $30.90 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.59 and a quick ratio of 1.03. The business has a fifty day moving average price of $25.99 and a 200-day moving average price of $23.23. James Hardie Industries PLC. has a 1-year low of $16.46 and a 1-year high of $31.36. The stock has a market capitalization of $17.93 billion, a P/E ratio of 123.58, a P/E/G ratio of 1.94 and a beta of 1.77.

James Hardie Industries (NYSE:JHX - Get Free Report) last issued its earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.04. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter last year, the company posted $0.29 earnings per share. The firm's quarterly revenue was up 63.9% on a year-over-year basis. Equities analysts forecast that James Hardie Industries PLC. will post 1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on JHX. Oppenheimer boosted their target price on shares of James Hardie Industries from $32.00 to $36.00 and gave the company an "outperform" rating in a report on Friday, August 7th. 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. Stephens upped their price objective on James Hardie Industries from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Raymond James Financial set a $35.00 target price on shares of James Hardie Industries in a report on Monday. Finally, Robert W. Baird set a $34.00 price target on James Hardie Industries in a research note on Friday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, James Hardie Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source