James Hardie Industries PLC. $JHX Shares Bought by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP increased its James Hardie Industries stake by 153.8% in the second quarter, acquiring 448,047 additional shares and bringing its holdings to 739,441 shares valued at approximately $19.4 million.
• James Hardie reported quarterly revenue of $1.47 billion and earnings of $0.36 per share, exceeding analyst estimates of $1.42 billion and $0.32, respectively. Revenue rose 63.9% year over year.
• Analysts maintain a favorable outlook, with a “Moderate Buy” consensus and an average price target of $32.50, compared with the stock’s reported price of $28.91.

Engineers Gate Manager LP increased its stake in James Hardie Industries PLC. (NYSE:JHX - Free Report) by 153.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 739,441 shares of the construction company's stock after acquiring an additional 448,047 shares during the period. Engineers Gate Manager LP owned approximately 0.13% of James Hardie Industries worth $19,359,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in James Hardie Industries by 17.0% during the first quarter. Royal Bank of Canada now owns 50,801 shares of the construction company's stock worth $1,197,000 after purchasing an additional 7,396 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of James Hardie Industries by 160.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company's stock valued at $63,557,000 after buying an additional 1,662,743 shares during the period. Jane Street Group LLC grew its stake in shares of James Hardie Industries by 222.4% during the 1st quarter. Jane Street Group LLC now owns 279,009 shares of the construction company's stock valued at $6,573,000 after buying an additional 192,478 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of James Hardie Industries by 49.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 11,603 shares of the construction company's stock worth $312,000 after buying an additional 3,827 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of James Hardie Industries by 11,238.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company's stock worth $40,000 after buying an additional 1,461 shares during the last quarter. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

James Hardie Industries Trading Down 3.2%

NYSE:JHX opened at $28.91 on Thursday. 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 PLC. has a one year low of $16.46 and a one year high of $31.43. The business's 50-day simple moving average is $27.96 and its 200 day simple moving average is $23.97. The stock has a market cap of $16.78 billion, a price-to-earnings ratio of 115.65, a price-to-earnings-growth ratio of 2.57 and a beta of 1.77.

James Hardie Industries (NYSE:JHX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The construction company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.04. James Hardie Industries had a return on equity of 10.56% and a net margin of 2.69%.The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm earned $0.29 EPS. James Hardie Industries's quarterly revenue was up 63.9% on a year-over-year basis. As a group, sell-side analysts predict that James Hardie Industries PLC. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Oppenheimer upped their price target on James Hardie Industries from $32.00 to $36.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Robert W. Baird set a $34.00 target price on shares of James Hardie Industries in a research report on Friday, August 7th. Stephens raised their price target on shares of James Hardie Industries from $33.00 to $34.00 and gave the company an "overweight" 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 report on Monday, July 13th. Finally, Raymond James Financial set a $35.00 price objective on shares of James Hardie Industries in a research note on Monday, August 10th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $32.50.

About James Hardie Industries

James Hardie Industries plc is a building materials company specializing in fiber cement and fiber gypsum products. Its products are used in residential and commercial construction, remodeling and repair applications, including exterior siding, trim, soffits, weatherboard, roofing components and interior wall systems.

The company markets products under brands that include Hardie and Fermacell. Its fiber cement materials are designed to provide durability and resistance to fire, moisture, pests and weather, serving applications where alternatives such as wood, vinyl or traditional gypsum may be used.

Founded in Australia in 1888, James Hardie has developed into an international manufacturer and supplier serving customers across North America, Australia and New Zealand, Europe and other markets.

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