Tidal Investments LLC Invests $1.18 Million in James Hardie Industries PLC. $JHX

Key Points

• Tidal Investments acquired 45,188 shares of James Hardie Industries worth approximately $1.18 million during the second quarter. Institutional investors collectively own 7.96% of the company.
• Analysts remain generally bullish, with 11 Buy ratings and two Holds; the stock has a consensus “Moderate Buy” rating and an average price target of $32.78.
• James Hardie exceeded quarterly expectations, reporting $0.36 in EPS versus a $0.32 estimate and $1.47 billion in revenue, up 63.9% year over year. Shares recently opened at $25.88.

Tidal Investments LLC bought a new stake in James Hardie Industries PLC. (NYSE:JHX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 45,188 shares of the construction company's stock, valued at approximately $1,183,000.

Several other large investors have also modified their holdings of JHX. Blue Trust Inc. increased its holdings in James Hardie Industries by 14.7% in the first quarter. Blue Trust Inc. now owns 6,890 shares of the construction company's stock valued at $130,000 after buying an additional 884 shares during the last quarter. Parallel Advisors LLC lifted its holdings in James Hardie Industries by 46.5% during the 1st quarter. Parallel Advisors LLC now owns 4,532 shares of the construction company's stock worth $86,000 after buying an additional 1,439 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in James Hardie Industries during the 1st quarter worth approximately $28,000. Modus Advisors LLC acquired a new position in shares of James Hardie Industries in the 4th quarter worth approximately $31,000. Finally, Dimensional Fund Advisors LP grew its position in shares of James Hardie Industries by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 169,788 shares of the construction company's stock worth $3,205,000 after acquiring an additional 1,721 shares in the last quarter. Institutional investors own 7.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JHX shares. Robert W. Baird set a $34.00 price target on James Hardie Industries in a research report on Friday, August 7th. Barclays raised shares of James Hardie Industries from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $26.00 to $35.00 in a report on Monday, August 10th. Oppenheimer reiterated an "outperform" rating and set a $36.00 target price on shares of James Hardie Industries in a research note on Wednesday. Loop Capital initiated coverage on shares of James Hardie Industries in a report on Monday. They set a "buy" rating and a $35.00 target price on the stock. Finally, Truist Financial increased their target price on shares of James Hardie Industries from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, James Hardie Industries presently has a consensus rating of "Moderate Buy" and an average target price of $32.78.

James Hardie Industries Stock Down 0.1%

NYSE:JHX opened at $25.88 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.03 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $28.25 and a 200-day moving average of $24.10. The firm has a market capitalization of $15.02 billion, a PE ratio of 103.51, a price-to-earnings-growth ratio of 2.14 and a beta of 1.77. James Hardie Industries PLC. has a 52 week low of $16.46 and a 52 week high of $31.43.

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 (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.04. James Hardie Industries had a return on equity of 10.56% and a net margin of 2.69%.The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the business posted $0.29 EPS. The business's revenue was up 63.9% on a year-over-year basis. Analysts predict that James Hardie Industries PLC. will post 1.47 EPS for the current year.

James Hardie Industries Company Profile

James Hardie Industries plc is a building materials company specializing in fiber cement and fiber gypsum products. Its products are used in residential and commercial construction, remodeling and repair applications, including exterior siding, trim, soffits, weatherboard, roofing components and interior wall systems.

The company markets products under brands that include Hardie and Fermacell. Its fiber cement materials are designed to provide durability and resistance to fire, moisture, pests and weather, serving applications where alternatives such as wood, vinyl or traditional gypsum may be used.

Founded in Australia in 1888, James Hardie has developed into an international manufacturer and supplier serving customers across North America, Australia and New Zealand, Europe and other markets.

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