Wealth Enhancement Advisory Services LLC Cuts Stake in James Hardie Industries PLC. $JHX

Key Points

• Wealth Enhancement Advisory Services LLC cut its stake in James Hardie (NYSE:JHX) by 62.7% in Q4, selling 71,288 shares and leaving it with 42,393 shares worth about $908,000.
• James Hardie reported Q results of $0.24 EPS (beat by $0.01) on $1.24 billion revenue, up 30.1% YoY; the stock opened at $19.00, has a market cap of $8.17 billion and a PE of 70.39.
• Wall Street sentiment is mostly positive with a consensus "Moderate Buy" and a $26.63 price target, alongside recent upgrades and higher targets from firms like Truist and JPMorgan.

Wealth Enhancement Advisory Services LLC lowered its stake in shares of James Hardie Industries PLC. (NYSE:JHX - Free Report) by 62.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,393 shares of the construction company's stock after selling 71,288 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in James Hardie Industries were worth $908,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Green Alpha Advisors LLC purchased a new stake in shares of James Hardie Industries during the fourth quarter worth about $464,000. Hilltop National Bank purchased a new stake in shares of James Hardie Industries during the fourth quarter worth about $47,000. Tudor Investment Corp ET AL increased its stake in shares of James Hardie Industries by 2,088.7% during the third quarter. Tudor Investment Corp ET AL now owns 350,760 shares of the construction company's stock worth $6,738,000 after purchasing an additional 334,734 shares in the last quarter. Morningstar Investment Management LLC purchased a new stake in shares of James Hardie Industries during the third quarter worth about $5,802,000. Finally, Zimmer Partners LP purchased a new stake in shares of James Hardie Industries during the third quarter worth about $5,283,000. Hedge funds and other institutional investors own 7.96% of the company's stock.

James Hardie Industries Stock Up 2.3%

Shares of NYSE JHX opened at $19.00 on Tuesday. James Hardie Industries PLC. has a 12-month low of $16.46 and a 12-month high of $29.83. The stock has a market cap of $8.17 billion, a PE ratio of 70.39, a P/E/G ratio of 3.48 and a beta of 1.84. 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 50-day moving average of $22.14 and a 200 day moving average of $21.08.

James Hardie Industries (NYSE:JHX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The construction company reported $0.24 earnings per share (EPS) 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 company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the prior year, the company earned $0.36 EPS. James Hardie Industries's revenue was up 30.1% compared to the same quarter last year. As a group, sell-side analysts predict that James Hardie Industries PLC. will post 1.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

JHX has been the subject of a number of research reports. Truist Financial boosted their target price on shares of James Hardie Industries from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. JPMorgan Chase & Co. raised shares of James Hardie Industries from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 11th. Zacks Research cut shares of James Hardie Industries from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Raymond James Financial set a $21.00 price objective on shares of James Hardie Industries in a research note on Monday, December 8th. Finally, Barclays upped their price objective on shares of James Hardie Industries from $21.00 to $26.00 and gave the company an "equal weight" rating in a research note on Thursday, February 12th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.63.

About James Hardie Industries

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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