Massachusetts Financial Services Co. MA Makes New $87.86 Million Investment in James Hardie Industries PLC. (NYSE:JHX)

Massachusetts Financial Services Co. MA purchased a new position in James Hardie Industries PLC. (NYSE:JHX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,729,137 shares of the construction company's stock, valued at approximately $87,858,000. Massachusetts Financial Services Co. MA owned 0.87% of James Hardie Industries as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC grew its stake in James Hardie Industries by 45.3% in the fourth quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company's stock worth $30,000 after purchasing an additional 303 shares during the period. Aquatic Capital Management LLC purchased a new stake in James Hardie Industries in the fourth quarter worth $55,000. Huntington National Bank grew its stake in James Hardie Industries by 64.7% in the fourth quarter. Huntington National Bank now owns 2,260 shares of the construction company's stock worth $70,000 after purchasing an additional 888 shares during the period. Legal & General Group Plc grew its stake in James Hardie Industries by 98.0% in the fourth quarter. Legal & General Group Plc now owns 5,049 shares of the construction company's stock worth $156,000 after purchasing an additional 2,499 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in James Hardie Industries by 9.5% in the fourth quarter. Russell Investments Group Ltd. now owns 5,220 shares of the construction company's stock worth $161,000 after purchasing an additional 453 shares during the period. 7.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JHX has been the topic of several analyst reports. Bank of America raised James Hardie Industries from an "underperform" rating to a "buy" rating and dropped their target price for the stock from $27.40 to $27.35 in a report on Thursday, March 27th. Truist Financial lowered their price target on James Hardie Industries from $45.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, May 21st. Wall Street Zen lowered James Hardie Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Morgan Stanley raised James Hardie Industries from an "equal weight" rating to an "overweight" rating in a research report on Monday, March 24th. Finally, William Blair began coverage on James Hardie Industries in a research report on Friday, June 27th. They issued an "outperform" rating for the company. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, James Hardie Industries presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.34.

James Hardie Industries Stock Performance

Shares of James Hardie Industries stock traded down $0.30 during trading on Friday, hitting $26.26. 2,903,305 shares of the company's stock traded hands, compared to its average volume of 1,795,278. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.67. James Hardie Industries PLC. has a 1 year low of $19.72 and a 1 year high of $43.57. The stock has a market capitalization of $11.29 billion, a P/E ratio of 26.80, a PEG ratio of 1.76 and a beta of 1.75. The business has a 50-day simple moving average of $25.78 and a 200-day simple moving average of $27.65.

James Hardie Industries (NYSE:JHX - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The construction company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). James Hardie Industries had a net margin of 10.94% and a return on equity of 31.52%. The business had revenue of $971.50 million for the quarter, compared to analysts' expectations of $983.86 million. During the same period last year, the business earned $1.61 earnings per share. The company's quarterly revenue was down 3.3% on a year-over-year basis. As a group, analysts forecast that James Hardie Industries PLC. will post 1.39 EPS for the current year.

James Hardie Industries Company Profile

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.