OLD Mission Capital LLC Acquires 133,994 Shares of James Hardie Industries PLC. $JHX

Key Points

• OLD Mission Capital LLC significantly increased its stake in James Hardie Industries PLC by 402.8% during the first quarter, now holding a position valued at $3.94 million.
• Citigroup Inc. made a substantial move as well, raising its investment by 59,775.3%, owning over 5.3 million shares valued at approximately $125 million.
• James Hardie Industries reported a 9.3% decline in revenue year-over-year during its latest quarter, with earnings per share of $0.29, missing predictions by $0.07.

OLD Mission Capital LLC lifted its holdings in James Hardie Industries PLC. (NYSE:JHX - Free Report) by 402.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 167,258 shares of the construction company's stock after buying an additional 133,994 shares during the quarter. OLD Mission Capital LLC's holdings in James Hardie Industries were worth $3,941,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Citigroup Inc. increased its stake in shares of James Hardie Industries by 59,775.3% in the first quarter. Citigroup Inc. now owns 5,325,912 shares of the construction company's stock valued at $125,478,000 after purchasing an additional 5,317,017 shares during the period. Wellington Management Group LLP bought a new position in shares of James Hardie Industries in the first quarter worth $90,526,000. Massachusetts Financial Services Co. MA acquired a new position in shares of James Hardie Industries during the first quarter valued at $87,858,000. Private Advisory Group LLC acquired a new stake in James Hardie Industries in the first quarter worth about $9,345,000. Finally, Northern Trust Corp grew its position in James Hardie Industries by 76.3% in the 4th quarter. Northern Trust Corp now owns 374,164 shares of the construction company's stock valued at $11,528,000 after buying an additional 161,899 shares in the last quarter. 7.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

JHX has been the subject of several recent analyst reports. UBS Group reiterated a "neutral" rating on shares of James Hardie Industries in a report on Thursday, August 21st. Macquarie raised shares of James Hardie Industries from a "neutral" rating to an "outperform" rating in a research note on Monday, July 28th. Robert W. Baird lowered their price objective on shares of James Hardie Industries from $32.00 to $25.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 20th. Baird R W raised shares of James Hardie Industries to a "strong-buy" rating in a research note on Friday, July 11th. Finally, William Blair initiated coverage on shares of James Hardie Industries in a research note on Friday, June 27th. They issued an "outperform" rating on the stock. One investment 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, James Hardie Industries presently has an average rating of "Buy" and an average target price of $33.27.

James Hardie Industries Stock Up 0.3%

NYSE JHX traded up $0.05 during trading on Thursday, reaching $19.45. The company's stock had a trading volume of 2,637,237 shares, compared to its average volume of 4,308,677. The company has a current ratio of 3.76, a quick ratio of 3.31 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $8.36 billion, a PE ratio of 25.27, a PEG ratio of 2.37 and a beta of 1.74. The business has a 50-day moving average price of $25.87 and a 200-day moving average price of $25.92. James Hardie Industries PLC. has a 1-year low of $17.91 and a 1-year high of $43.57.

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