Northern Trust Corp Buys 13,818 Shares of James Hardie Industries PLC. $JHX

Key Points

• Northern Trust Corp increased its holdings in James Hardie Industries by 3.7% in Q1, now owning approximately 387,982 shares worth about $9.14 million.
• Various hedge funds have also increased their positions in James Hardie, contributing to a total institutional ownership of 7.96% of the company's stock.
• Analysts have mixed ratings on James Hardie Industries, with one "Strong Buy," eight "Buy," and one "Hold," while the consensus target price is $33.27.

Northern Trust Corp lifted its holdings in James Hardie Industries PLC. (NYSE:JHX - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 387,982 shares of the construction company's stock after purchasing an additional 13,818 shares during the period. Northern Trust Corp owned 0.09% of James Hardie Industries worth $9,141,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of America Corp DE lifted its stake in shares of James Hardie Industries by 19.4% in the 4th quarter. Bank of America Corp DE now owns 453,206 shares of the construction company's stock valued at $13,963,000 after purchasing an additional 73,504 shares during the last quarter. Private Advisory Group LLC bought a new position in James Hardie Industries in the 1st quarter worth $9,345,000. GAMMA Investing LLC raised its holdings in James Hardie Industries by 2,189.1% in the 1st quarter. GAMMA Investing LLC now owns 32,207 shares of the construction company's stock worth $759,000 after acquiring an additional 30,800 shares during the period. Cerity Partners LLC raised its holdings in James Hardie Industries by 39.3% in the 1st quarter. Cerity Partners LLC now owns 46,083 shares of the construction company's stock worth $1,086,000 after acquiring an additional 12,990 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in James Hardie Industries by 7.4% in the 1st quarter. Bank of New York Mellon Corp now owns 55,944 shares of the construction company's stock worth $1,318,000 after acquiring an additional 3,838 shares during the period. Institutional investors and hedge funds own 7.96% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on JHX. Baird R W upgraded shares of James Hardie Industries to a "strong-buy" rating in a report on Friday, July 11th. William Blair began coverage on shares of James Hardie Industries in a report on Friday, June 27th. They issued an "outperform" rating on the stock. UBS Group reiterated a "neutral" rating on shares of James Hardie Industries in a report on Thursday, August 21st. Robert W. Baird dropped their target price on shares of James Hardie Industries from $32.00 to $25.00 and set an "outperform" rating on the stock in a report on Wednesday, August 20th. Finally, Truist Financial dropped their target price on shares of James Hardie Industries from $35.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $33.27.

James Hardie Industries Stock Performance

NYSE JHX traded down $0.06 during midday trading on Monday, hitting $20.16. The company had a trading volume of 4,983,801 shares, compared to its average volume of 12,037,683. The company has a quick ratio of 3.31, a current ratio of 3.76 and a debt-to-equity ratio of 1.12. The stock has a market cap of $8.67 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 2.38 and a beta of 1.75. The firm has a fifty day simple moving average of $25.46 and a two-hundred day simple moving average of $25.57. James Hardie Industries PLC. has a fifty-two week low of $17.91 and a fifty-two week high of $43.57.

James Hardie Industries (NYSE:JHX - Get Free Report) last issued its earnings results on Tuesday, August 19th. The construction company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.07). James Hardie Industries had a net margin of 8.75% and a return on equity of 27.95%. The business had revenue of $899.90 million for the quarter, compared to analyst estimates of $982.60 million. During the same quarter last year, the firm posted $0.41 earnings per share. James Hardie Industries's revenue was down 9.3% on a year-over-year basis. Equities analysts forecast that James Hardie Industries PLC. will post 1.39 earnings per share for the current fiscal 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.