James Hardie Industries PLC. $JHX Shares Bought by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its stake in James Hardie Industries by 48.5% in the first quarter, buying 1.25 million more shares and bringing its holdings to 3.84 million shares worth about $72.7 million.
• Other institutional investors also added to or initiated positions in JHX, and hedge funds and institutions now own 7.96% of the company.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus rating and a $27.11 average price target; the company also recently beat EPS estimates even as revenue came in slightly below forecasts.

Renaissance Technologies LLC grew its holdings in James Hardie Industries PLC. (NYSE:JHX - Free Report) by 48.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,839,489 shares of the construction company's stock after buying an additional 1,254,400 shares during the period. Renaissance Technologies LLC owned 0.89% of James Hardie Industries worth $72,720,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in JHX. Northwestern Mutual Wealth Management Co. increased its position in James Hardie Industries by 11,238.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company's stock valued at $40,000 after acquiring an additional 1,461 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in James Hardie Industries during the 1st quarter worth approximately $28,000. Modus Advisors LLC purchased a new position in shares of James Hardie Industries in the 4th quarter valued at approximately $31,000. Global Retirement Partners LLC grew its stake in shares of James Hardie Industries by 3,431.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the construction company's stock valued at $33,000 after purchasing an additional 1,544 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of James Hardie Industries in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 7.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays restated a "positive" rating on shares of James Hardie Industries in a research note on Friday. Stephens assumed coverage on shares of James Hardie Industries in a research note on Thursday, June 25th. They issued an "overweight" rating and a $31.00 price objective on the stock. Finally, Zacks Research upgraded shares of James Hardie Industries from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.11.

James Hardie Industries Stock Up 2.5%

James Hardie Industries stock opened at $26.52 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.58 and a quick ratio of 1.03. James Hardie Industries PLC. has a 1-year low of $16.46 and a 1-year high of $29.83. The company has a market cap of $15.39 billion, a PE ratio of 120.53 and a beta of 1.77. The stock's 50 day moving average price is $24.12 and its 200 day moving average price is $22.69.

James Hardie Industries (NYSE:JHX - Get Free Report) last released its quarterly earnings data on Wednesday, May 20th. The construction company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. James Hardie Industries had a return on equity of 11.13% and a net margin of 2.15%.The firm had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter in the prior year, the business posted $0.36 earnings per share. James Hardie Industries's revenue was up 44.5% compared to the same quarter last year. On average, sell-side analysts predict that James Hardie Industries PLC. will post 1.24 EPS for the current fiscal year.

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.

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