Handelsbanken Fonder AB Buys New Shares in James Hardie Industries PLC. $JHX

Key Points

• Handelsbanken Fonder AB initiated a position in James Hardie Industries, purchasing 208,500 shares valued at approximately $5.46 million. Several other institutional investors also increased or initiated holdings, while institutional ownership stood at 7.96%.
• James Hardie exceeded quarterly expectations, reporting $0.36 EPS versus a $0.32 consensus estimate and $1.47 billion in revenue, up 63.9% year over year. Analysts expect $1.43 in EPS for the current fiscal year.
• JHX shares opened at $31.02, near their 52-week high of $31.35. Analysts maintain a “Moderate Buy” consensus, with nine Buy ratings, three Holds, and an average price target of $32.50.

Handelsbanken Fonder AB bought a new position in shares of James Hardie Industries PLC. (NYSE:JHX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 208,500 shares of the construction company's stock, valued at approximately $5,459,000.

A number of other large investors have also recently bought and sold shares of JHX. TimesSquare Capital Management LLC grew its stake in James Hardie Industries by 25.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 2,003,166 shares of the construction company's stock valued at $41,566,000 after acquiring an additional 401,435 shares in the last quarter. ING Groep NV purchased a new position in James Hardie Industries in the 4th quarter worth approximately $5,244,000. Calamos Advisors LLC lifted its stake in James Hardie Industries by 26.4% in the 1st quarter. Calamos Advisors LLC now owns 993,270 shares of the construction company's stock worth $18,813,000 after purchasing an additional 207,567 shares in the last quarter. Senator Investment Group LP boosted its holdings in shares of James Hardie Industries by 99.8% during the 4th quarter. Senator Investment Group LP now owns 1,825,797 shares of the construction company's stock worth $37,885,000 after purchasing an additional 911,860 shares during the last quarter. Finally, Capula Management Ltd acquired a new position in shares of James Hardie Industries during the 1st quarter worth approximately $6,620,000. Hedge funds and other institutional investors own 7.96% of the company's stock.

James Hardie Industries Price Performance

JHX stock opened at $31.02 on Friday. The business has a 50 day moving average price of $26.16 and a 200 day moving average price of $23.28. The company has a quick ratio of 1.03, a current ratio of 1.59 and a debt-to-equity ratio of 0.66. The stock has a market cap of $18.00 billion, a price-to-earnings ratio of 124.10, a PEG ratio of 1.94 and a beta of 1.77. James Hardie Industries PLC. has a fifty-two week low of $16.46 and a fifty-two week high of $31.35.

James Hardie Industries (NYSE:JHX - Get Free Report) last announced its earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.04. The business had revenue of $1.47 billion for 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 revenue for the quarter was up 63.9% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. Equities research analysts anticipate that James Hardie Industries PLC. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on JHX shares. Truist Financial raised their target price on James Hardie Industries from $30.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Raymond James Financial set a $35.00 price objective on shares of James Hardie Industries in a report on Monday. Oppenheimer raised their price objective on shares of James Hardie Industries from $32.00 to $36.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Zacks Research upgraded shares of James Hardie Industries from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, Robert W. Baird set a $34.00 target price on shares of James Hardie Industries in a report on Friday, August 7th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.50.

About James Hardie Industries

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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