Tudor Investment Corp ET AL Raises Stake in James Hardie Industries PLC. $JHX

Key Points

• Tudor Investment Corp increased its stake in James Hardie by 2,088.7% in Q3, buying an additional 334,734 shares to hold 350,760 shares worth about $6.74 million (roughly 0.08% of the company).
• Other institutional investors including Goldman Sachs, Jane Street and RBC also significantly raised positions, and hedge funds/institutions now own about 7.96% of JHX.
• Analyst sentiment is broadly positive with an average rating of "Moderate Buy" and a $26.63 target price after recent upgrades and price-target raises from firms like JPMorgan, Truist and Barclays.

Tudor Investment Corp ET AL grew its stake in shares of James Hardie Industries PLC. (NYSE:JHX - Free Report) by 2,088.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 350,760 shares of the construction company's stock after purchasing an additional 334,734 shares during the period. Tudor Investment Corp ET AL owned approximately 0.08% of James Hardie Industries worth $6,738,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in JHX. Royal Bank of Canada boosted its position in shares of James Hardie Industries by 17.0% during the 1st quarter. Royal Bank of Canada now owns 50,801 shares of the construction company's stock worth $1,197,000 after purchasing an additional 7,396 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of James Hardie Industries by 160.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company's stock worth $63,557,000 after purchasing an additional 1,662,743 shares in the last quarter. Jane Street Group LLC raised its stake in shares of James Hardie Industries by 222.4% during the 1st quarter. Jane Street Group LLC now owns 279,009 shares of the construction company's stock worth $6,573,000 after buying an additional 192,478 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of James Hardie Industries by 49.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 11,603 shares of the construction company's stock worth $312,000 after buying an additional 3,827 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 buying an additional 1,461 shares during the last quarter. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on JHX. Barclays lifted their price target 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. JPMorgan Chase & Co. raised James Hardie Industries from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 11th. Zacks Research downgraded James Hardie Industries from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Finally, Truist Financial lifted their price target on James Hardie Industries from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.63.

James Hardie Industries Trading Down 1.4%

NYSE:JHX opened at $18.75 on Wednesday. The company has a market capitalization of $8.06 billion, a PE ratio of 69.43, a price-to-earnings-growth ratio of 3.48 and a beta of 1.84. The company has a quick ratio of 0.95, a current ratio of 1.54 and a debt-to-equity ratio of 0.73. James Hardie Industries PLC. has a 52-week low of $16.46 and a 52-week high of $29.83. The stock has a fifty day simple moving average of $22.03 and a 200-day simple moving average of $21.08.

James Hardie Industries (NYSE:JHX - Get Free Report) last announced its earnings results on Tuesday, February 10th. The construction company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. James Hardie Industries had a net margin of 2.70% and a return on equity of 13.52%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the company posted $0.36 EPS. The firm's revenue for the quarter was up 30.1% on a year-over-year basis. On average, equities research analysts expect that James Hardie Industries PLC. will post 1.39 earnings per share for the current fiscal year.

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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