Quantbot Technologies LP Makes New Investment in James Hardie Industries PLC. $JHX

Key Points

• Quantbot Technologies LP acquired a new stake of 70,581 shares in James Hardie Industries (NYSE: JHX) during Q3, valued at about $1.36 million.
• Several large institutions also moved into JHX—Massachusetts Financial Services dramatically increased its position to 12.72 million shares and others (Phoenix, Balyasny, Eminence, Stephens) added sizable stakes, with institutional ownership reported at ~7.96%.
• James Hardie is trading with a market cap of ~$9.5B and a high PE (~81.85), recently posted an EPS beat and 30.1% revenue growth year-over-year, and carries a consensus analyst rating of “Moderate Buy” with an average target of $26.71.

Quantbot Technologies LP acquired a new stake in James Hardie Industries PLC. (NYSE:JHX - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 70,581 shares of the construction company's stock, valued at approximately $1,356,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in JHX. Massachusetts Financial Services Co. MA lifted its stake in shares of James Hardie Industries by 241.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 12,718,075 shares of the construction company's stock valued at $341,989,000 after acquiring an additional 8,988,938 shares during the period. Phoenix Financial Ltd. bought a new stake in James Hardie Industries during the 3rd quarter worth about $105,839,000. Balyasny Asset Management L.P. lifted its position in James Hardie Industries by 1,883.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 3,874,198 shares of the construction company's stock valued at $104,177,000 after purchasing an additional 3,678,889 shares during the period. Eminence Capital LP acquired a new position in James Hardie Industries during the 2nd quarter valued at about $83,249,000. Finally, Stephens Investment Management Group LLC bought a new position in shares of James Hardie Industries in the 3rd quarter valued at about $38,552,000. 7.96% of the stock is owned by institutional investors and hedge funds.

James Hardie Industries Stock Performance

Shares of James Hardie Industries stock opened at $22.10 on Friday. The stock's fifty day simple moving average is $23.44 and its 200 day simple moving average is $21.24. The company has a current ratio of 1.54, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $9.50 billion, a PE ratio of 81.85, a PEG ratio of 5.01 and a beta of 1.78. James Hardie Industries PLC. has a 12 month low of $16.46 and a 12 month high of $32.69.

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

Analysts Set New Price Targets

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

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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