Squarepoint Ops LLC Makes New Investment in James Hardie Industries PLC. $JHX

Key Points

• Squarepoint Ops LLC acquired 1.82 million James Hardie Industries shares worth approximately $47.7 million, representing about 0.31% of the company. Institutional investors collectively own 7.96% of JHX.
• James Hardie reported quarterly EPS of $0.36, beating estimates of $0.32, while revenue rose 63.9% year over year to $1.47 billion.
• Analyst sentiment is bullish: nine analysts rate JHX a Buy and two a Hold, producing a “Moderate Buy” consensus and an average price target of $32.50 versus the reported share price of $29.84.

Squarepoint Ops LLC bought a new stake in shares of James Hardie Industries PLC. (NYSE:JHX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,820,142 shares of the construction company's stock, valued at approximately $47,651,000. Squarepoint Ops LLC owned about 0.31% of James Hardie Industries at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in shares of James Hardie Industries by 11,238.5% during the second 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 in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in James Hardie Industries during the 1st quarter worth $28,000. Modus Advisors LLC acquired a new stake in James Hardie Industries during the 4th quarter worth $31,000. Global Retirement Partners LLC boosted its stake in James Hardie Industries by 3,431.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the construction company's stock worth $33,000 after purchasing an additional 1,544 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of James Hardie Industries during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 7.96% of the company's stock.

James Hardie Industries Stock Down 1.8%

Shares of JHX opened at $29.84 on Wednesday. James Hardie Industries PLC. has a 52-week low of $16.46 and a 52-week high of $31.43. The company has a quick ratio of 1.03, a current ratio of 1.59 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $27.90 and a two-hundred day simple moving average of $23.94. The company has a market capitalization of $17.31 billion, a PE ratio of 119.34, a price-to-earnings-growth ratio of 2.61 and a beta of 1.77.

James Hardie Industries (NYSE:JHX - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.04. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter in the previous year, the company posted $0.29 EPS. The company's revenue was up 63.9% compared to the same quarter last year. As a group, equities analysts forecast that James Hardie Industries PLC. will post 1.41 EPS for the current year.

Analyst Upgrades and Downgrades

JHX has been the subject of a number of recent research reports. Stephens increased their target price on shares of James Hardie Industries from $33.00 to $34.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Raymond James Financial set a $35.00 price target on shares of James Hardie Industries in a research report on Monday, August 10th. Oppenheimer upped their price objective on shares of James Hardie Industries from $32.00 to $36.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Truist Financial increased their price objective on shares of James Hardie Industries from $30.00 to $40.00 and gave the company a "buy" rating in a report on Friday, August 7th. Finally, Barclays raised shares of James Hardie Industries from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $26.00 to $35.00 in a research note on Monday, August 10th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.50.

James Hardie Industries Company 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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