James Hardie Industries plc (NYSE:JHX) Declares $0.40 Semi-annual Dividend

James Hardie Industries plc (NYSE:JHX – Get Rating) announced a semi-annual dividend on Wednesday, May 18th, Wall Street Journal reports. Stockholders of record on Friday, May 27th will be given a dividend of 0.40 per share by the construction company on Friday, July 29th. This represents a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, May 26th.

James Hardie Industries has a dividend payout ratio of 42.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect James Hardie Industries to earn $1.87 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 42.8%.

Shares of JHX traded down $0.69 during midday trading on Wednesday, reaching $26.11. 92,590 shares of the stock were exchanged, compared to its average volume of 65,143. James Hardie Industries has a twelve month low of $26.02 and a twelve month high of $41.85. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 0.70. The company has a market cap of $11.63 billion, a P/E ratio of 25.45 and a beta of 1.29. The stock’s 50 day simple moving average is $30.24 and its 200 day simple moving average is $34.73.

A number of brokerages recently commented on JHX. Zacks Investment Research cut James Hardie Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, April 5th. StockNews.com initiated coverage on James Hardie Industries in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Morgan Stanley upgraded James Hardie Industries from an “equal weight” rating to an “overweight” rating in a report on Tuesday. Finally, CLSA upgraded James Hardie Industries from an “underperform” rating to an “outperform” rating in a report on Monday, February 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $45.00.

A number of institutional investors have recently made changes to their positions in JHX. Goldman Sachs Group Inc. grew its holdings in James Hardie Industries by 14.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 862,410 shares of the construction company’s stock worth $35,091,000 after buying an additional 111,388 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of James Hardie Industries by 2.3% during the 4th quarter. Parametric Portfolio Associates LLC now owns 1,828,034 shares of the construction company’s stock valued at $74,383,000 after buying an additional 41,805 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in James Hardie Industries during the 4th quarter worth about $585,000. Jane Street Group LLC purchased a new stake in James Hardie Industries during the 1st quarter worth about $351,000. Finally, Natixis Advisors L.P. lifted its holdings in James Hardie Industries by 50.5% during the 1st quarter. Natixis Advisors L.P. now owns 27,726 shares of the construction company’s stock worth $836,000 after purchasing an additional 9,305 shares in the last quarter. Institutional investors and hedge funds own 17.17% of the company’s stock.

About James Hardie Industries (Get Rating)

James Hardie Industries plc, together with its subsidiaries, manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, the Philippines, and Canada.

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