James Hardie Industries PLC. $JHX Shares Sold by Interval Partners LP

Key Points

• Interval Partners LP reduced its stake by 55.3% in Q3, selling 1,732,014 shares and leaving it with 1,401,942 shares (~0.33% of the company) valued at about $26.93 million.
• Wellington Management dramatically increased its position, adding 36,567,726 shares (a 259.7% rise) to hold 50,649,731 shares worth roughly $973 million, while institutional investors collectively own about 7.96% of JHX.
• Analyst sentiment is a "Moderate Buy" (12 Buys, 4 Holds) with an average target of $26.71, and several firms recently raised targets or ratings — including Oppenheimer and Truist to $30 and JPMorgan upgrading to "overweight".

Interval Partners LP reduced its stake in James Hardie Industries PLC. (NYSE:JHX - Free Report) by 55.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,401,942 shares of the construction company's stock after selling 1,732,014 shares during the period. Interval Partners LP owned approximately 0.33% of James Hardie Industries worth $26,931,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Ossiam purchased a new stake in shares of James Hardie Industries in the 3rd quarter valued at approximately $636,000. Wellington Management Group LLP lifted its holdings in shares of James Hardie Industries by 259.7% in the 3rd quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company's stock worth $972,981,000 after acquiring an additional 36,567,726 shares during the last quarter. Quinn Opportunity Partners LLC purchased a new position in shares of James Hardie Industries during the 3rd quarter worth approximately $192,000. Marshall Wace LLP boosted its position in shares of James Hardie Industries by 25.2% during the 3rd quarter. Marshall Wace LLP now owns 1,459,160 shares of the construction company's stock worth $28,030,000 after purchasing an additional 293,726 shares during the period. Finally, Entropy Technologies LP increased its holdings in James Hardie Industries by 241.0% in the 3rd quarter. Entropy Technologies LP now owns 85,668 shares of the construction company's stock valued at $1,646,000 after purchasing an additional 60,543 shares during the last quarter. Hedge funds and other institutional investors own 7.96% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on JHX shares. Barclays boosted their target price on James Hardie Industries from $21.00 to $26.00 and gave the company an "equal weight" rating in a research report on Thursday, February 12th. Oppenheimer lifted their price objective on James Hardie Industries from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Wednesday, November 19th. Truist Financial boosted their price objective on James Hardie Industries from $28.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. raised James Hardie Industries from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 11th. Finally, Raymond James Financial set a $21.00 target price on James Hardie Industries in a report on Monday, December 8th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.71.

James Hardie Industries Price Performance

Shares of JHX opened at $19.62 on Friday. The company has a market cap of $8.43 billion, a P/E ratio of 72.66, a PEG ratio of 4.39 and a beta of 1.78. James Hardie Industries PLC. has a fifty-two week low of $16.46 and a fifty-two week high of $32.69. The company has a quick ratio of 0.95, a current ratio of 1.54 and a debt-to-equity ratio of 0.73. The firm's 50 day moving average price is $23.40 and its 200 day moving average price is $21.15.

James Hardie Industries (NYSE:JHX - Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The construction company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. James Hardie Industries had a net margin of 2.70% and a return on equity of 13.52%. James Hardie Industries's quarterly revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 earnings per share. On average, research analysts forecast that James Hardie Industries PLC. will post 1.39 earnings per share for the current fiscal year.

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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