James Hardie Industries PLC. $JHX Stock Position Reduced by State Street Corp

Key Points

• State Street reduced its James Hardie Industries stake by 5.4% in the second quarter, selling 81,061 shares and retaining 1.41 million shares worth about $37.0 million. Other institutions, including Renaissance Technologies and Alyeska Investment Group, increased their positions.
• JHX shares opened at $26.04, down 3.0%, with a market capitalization of $15.11 billion. The stock has traded between $16.46 and $31.43 over the past year.
• James Hardie exceeded quarterly expectations, reporting $0.36 in EPS on $1.47 billion in revenue, while revenue rose 63.9% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $32.78.

State Street Corp decreased its stake in James Hardie Industries PLC. (NYSE:JHX - Free Report) by 5.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,412,181 shares of the construction company's stock after selling 81,061 shares during the quarter. State Street Corp owned approximately 0.24% of James Hardie Industries worth $36,971,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of JHX. Squarepoint Ops LLC purchased a new stake in shares of James Hardie Industries during the second quarter worth $47,651,000. Renaissance Technologies LLC raised its stake in shares of James Hardie Industries by 48.5% during the 1st quarter. Renaissance Technologies LLC now owns 3,839,489 shares of the construction company's stock worth $72,720,000 after purchasing an additional 1,254,400 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of James Hardie Industries by 12.3% during the 2nd quarter. Alyeska Investment Group L.P. now owns 8,737,905 shares of the construction company's stock valued at $228,758,000 after buying an additional 954,317 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of James Hardie Industries by 105.3% in the 4th quarter. Natixis Advisors LLC now owns 1,831,396 shares of the construction company's stock valued at $38,001,000 after buying an additional 939,248 shares in the last quarter. Finally, Senator Investment Group LP grew its stake in shares of James Hardie Industries by 99.8% in the 4th quarter. Senator Investment Group LP now owns 1,825,797 shares of the construction company's stock valued at $37,885,000 after buying an additional 911,860 shares in the last quarter. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

James Hardie Industries Stock Down 3.0%

JHX stock opened at $26.04 on Friday. James Hardie Industries PLC. has a twelve month low of $16.46 and a twelve month high of $31.43. The company has a market cap of $15.11 billion, a PE ratio of 104.16, a price-to-earnings-growth ratio of 2.68 and a beta of 1.77. The business's 50-day simple moving average is $28.32 and its 200 day simple moving average is $24.23. The company has a quick ratio of 1.03, a current ratio of 1.59 and a debt-to-equity ratio of 0.66.

James Hardie Industries (NYSE:JHX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The construction company reported $0.36 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $1.42 billion. During the same quarter in the prior year, the firm posted $0.29 EPS. The company's revenue for the quarter was up 63.9% on a year-over-year basis. On average, research analysts anticipate that James Hardie Industries PLC. will post 1.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on JHX shares. Robert W. Baird set a $34.00 price target on shares of James Hardie Industries in a research report on Friday, August 7th. Stephens raised their target price on shares of James Hardie Industries from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Oppenheimer reiterated an "outperform" rating and issued a $36.00 target price on shares of James Hardie Industries in a report on Wednesday, September 16th. 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, Loop Capital started coverage on shares of James Hardie Industries in a report on Monday, September 14th. They set a "buy" rating and a $35.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.78.

James Hardie Industries Company Profile

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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