Royal Bank of Canada Sells 120,301 Shares of James Hardie Industries PLC. $JHX

Key Points

• Royal Bank of Canada cut its James Hardie Industries stake by 51.7% in the first quarter, selling 120,301 shares and retaining 112,432 shares valued at approximately $2.13 million.
• James Hardie reported quarterly EPS of $0.36 versus the $0.32 consensus estimate, while revenue reached $1.47 billion, up 63.9% year over year and above expectations.
• Wall Street sentiment remains positive, with nine analysts rating the stock a Buy and three a Hold; the consensus rating is Moderate Buy with an average price target of $32.50.

Royal Bank of Canada decreased its position in James Hardie Industries PLC. (NYSE:JHX - Free Report) by 51.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 112,432 shares of the construction company's stock after selling 120,301 shares during the period. Royal Bank of Canada's holdings in James Hardie Industries were worth $2,129,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its holdings in James Hardie Industries by 11,238.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company's stock worth $40,000 after purchasing an additional 1,461 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of James Hardie Industries during the 1st quarter worth $28,000. Modus Advisors LLC bought a new position in shares of James Hardie Industries during the 4th quarter worth $31,000. Global Retirement Partners LLC increased its stake in shares of James Hardie Industries by 3,431.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the construction company's stock valued at $33,000 after buying an additional 1,544 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of James Hardie Industries during the fourth quarter valued at $41,000. Institutional investors own 7.96% of the company's stock.

James Hardie Industries Price Performance

Shares of JHX stock opened at $30.47 on Tuesday. James Hardie Industries PLC. has a 1-year low of $16.46 and a 1-year high of $31.35. The stock's 50-day moving average is $26.32 and its 200 day moving average is $23.32. The company has a market cap of $17.68 billion, a P/E ratio of 121.88, a PEG ratio of 1.95 and a beta of 1.77. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.59 and a quick ratio of 1.03.

James Hardie Industries (NYSE:JHX - Get Free Report) last announced its earnings results on Thursday, August 6th. The construction company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.42 billion. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The firm's revenue was up 63.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 earnings per share. Research analysts predict that James Hardie Industries PLC. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

JHX has been the subject of a number of research reports. Oppenheimer upped their price objective on shares of James Hardie Industries from $32.00 to $36.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Barclays upgraded shares of James Hardie Industries from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $26.00 to $35.00 in a report on Monday, August 10th. Truist Financial upped their price target on shares of James Hardie Industries from $30.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Robert W. Baird set a $34.00 price objective on shares of James Hardie Industries in a research note on Friday, August 7th. Finally, Raymond James Financial set a $35.00 price objective on shares of James Hardie Industries in a report on Monday, August 10th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, James Hardie Industries currently has a consensus rating of "Moderate Buy" and an average target price of $32.50.

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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