Franklin Resources Inc. Boosts Stake in James Hardie Industries plc (NYSE:JHX)

Franklin Resources Inc. increased its position in shares of James Hardie Industries plc (NYSE:JHX) by 10.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,416 shares of the construction company’s stock after buying an additional 865 shares during the quarter. Franklin Resources Inc.’s holdings in James Hardie Industries were worth $290,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in JHX. HighTower Advisors LLC purchased a new position in shares of James Hardie Industries during the third quarter worth about $202,000. Sanctuary Advisors LLC acquired a new position in shares of James Hardie Industries in the third quarter valued at approximately $708,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of James Hardie Industries during the third quarter worth $71,000. JPMorgan Chase & Co. grew its position in James Hardie Industries by 156.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 12,327 shares of the construction company’s stock valued at $495,000 after buying an additional 7,526 shares during the last quarter. Finally, Versant Capital Management Inc purchased a new position in James Hardie Industries during the 4th quarter worth $25,000. Institutional investors and hedge funds own 7.96% of the company’s stock.

James Hardie Industries Price Performance

Shares of JHX stock opened at $22.58 on Friday. James Hardie Industries plc has a twelve month low of $19.72 and a twelve month high of $43.57. The company has a market capitalization of $9.71 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 6.16 and a beta of 1.80. The company has a current ratio of 2.18, a quick ratio of 1.50 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $27.68 and a 200-day simple moving average of $31.79.

James Hardie Industries (NYSE:JHX) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. The company had revenue of $953.30 million during the quarter, compared to the consensus estimate of $967.63 million. Equities research analysts anticipate that James Hardie Industries plc will post 1.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on JHX shares. Bank of America upgraded James Hardie Industries from an “underperform” rating to a “buy” rating and decreased their price target for the company from $27.40 to $27.35 in a research note on Thursday, March 27th. Raymond James set a $55.00 target price on shares of James Hardie Industries in a research note on Monday, March 24th. Morgan Stanley raised shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating in a research note on Monday, March 24th. Truist Financial set a $45.00 target price on shares of James Hardie Industries in a report on Monday, March 24th. Finally, StockNews.com upgraded James Hardie Industries from a “hold” rating to a “buy” rating in a report on Friday, March 21st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, James Hardie Industries has an average rating of “Moderate Buy” and an average target price of $42.45.

About James Hardie Industries

James Hardie Industries plc 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, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.