James Hardie Industries PLC. $JHX Shares Purchased by RDST Capital LLC

Key Points

• RDST Capital increased its James Hardie Industries stake by 24% in the second quarter, adding 776,950 shares to own 4.02 million shares valued at approximately $105.1 million.
• James Hardie reported quarterly earnings of $0.36 per share, beating estimates by $0.04, while revenue rose 63.9% year over year to $1.47 billion.
• Wall Street remains broadly positive, with nine Buy ratings and two Holds; the stock has a “Moderate Buy” consensus rating and an average price target of $32.50.

RDST Capital LLC boosted its position in James Hardie Industries PLC. (NYSE:JHX - Free Report) by 24.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,015,067 shares of the construction company's stock after buying an additional 776,950 shares during the period. James Hardie Industries makes up about 8.7% of RDST Capital LLC's holdings, making the stock its biggest position. RDST Capital LLC owned approximately 0.69% of James Hardie Industries worth $105,114,000 at the end of the most recent reporting period.

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

James Hardie Industries Stock Performance

NYSE:JHX opened at $30.20 on Tuesday. The firm's fifty day simple moving average is $26.95 and its 200-day simple moving average is $23.56. 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 $17.53 billion, a PE ratio of 120.79, a price-to-earnings-growth ratio of 1.91 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 quarterly earnings data on Thursday, August 6th. The construction company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.32 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.42 billion. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The business's revenue for the quarter was up 63.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 earnings per share. Analysts expect that James Hardie Industries PLC. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JHX. Robert W. Baird set a $34.00 price target on shares of James Hardie Industries in a report on Friday, August 7th. Raymond James Financial set a $35.00 target price on James Hardie Industries in a research report on Monday, August 10th. Barclays raised James Hardie Industries from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $26.00 to $35.00 in a research note on Monday, August 10th. Zacks Research raised James Hardie Industries from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, Truist Financial lifted their price target on James Hardie Industries from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, James Hardie Industries presently has an average rating of "Moderate Buy" and a consensus price target 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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