Fund 1 Investments LLC Buys New Shares in James Hardie Industries PLC. $JHX

Key Points

• Fund 1 Investments LLC bought 40,000 shares of James Hardie Industries worth approximately $1.05 million in the second quarter. Institutional investors and hedge funds collectively own 7.96% of the company.
• 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.
• Analysts remain broadly bullish, with nine Buy ratings and two Holds; the stock has a “Moderate Buy” consensus rating and an average price target of $32.50.

Fund 1 Investments LLC purchased a new stake in James Hardie Industries PLC. (NYSE:JHX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 40,000 shares of the construction company's stock, valued at approximately $1,047,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Castleark Management LLC bought a new position in shares of James Hardie Industries during the 2nd quarter worth about $6,120,000. RDST Capital LLC lifted its stake in shares of James Hardie Industries by 24.0% in the second quarter. RDST Capital LLC now owns 4,015,067 shares of the construction company's stock valued at $105,114,000 after buying an additional 776,950 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of James Hardie Industries in the second quarter valued at about $248,000. Jones Financial Companies Lllp lifted its stake in shares of James Hardie Industries by 22.5% in the second quarter. Jones Financial Companies Lllp now owns 2,166,998 shares of the construction company's stock valued at $57,707,000 after buying an additional 397,621 shares during the period. Finally, Hill City Capital LP grew its position in James Hardie Industries by 1.8% during the second quarter. Hill City Capital LP now owns 5,723,900 shares of the construction company's stock worth $149,852,000 after buying an additional 102,200 shares in the last quarter. 7.96% of the stock is currently owned by institutional investors and hedge funds.

James Hardie Industries Price Performance

Shares of James Hardie Industries stock opened at $30.35 on Friday. The firm has a market cap of $17.61 billion, a P/E ratio of 121.40, a price-to-earnings-growth ratio of 2.61 and a beta of 1.77. The firm's 50-day simple moving average is $27.74 and its 200-day simple moving average is $23.89. James Hardie Industries PLC. has a twelve month low of $16.46 and a twelve month high of $31.35. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.59.

James Hardie Industries (NYSE:JHX - Get Free Report) last posted its quarterly 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. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.42 billion. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The company's quarterly revenue was up 63.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 earnings per share. As a group, research analysts expect that James Hardie Industries PLC. will post 1.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

JHX has been the topic of several research reports. Barclays upgraded James Hardie Industries from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $26.00 to $35.00 in a research note on Monday, August 10th. Robert W. Baird set a $34.00 price objective on James Hardie Industries in a research report on Friday, August 7th. Truist Financial lifted their price objective on James Hardie Industries from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Oppenheimer boosted their price objective on James Hardie Industries from $32.00 to $36.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Finally, Raymond James Financial set a $35.00 target price on James Hardie Industries in a research note on Monday, August 10th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.50.

James Hardie Industries 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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