Millennium Management LLC Purchases 978,314 Shares of James Hardie Industries PLC. $JHX

Millennium Management LLC lifted its position in James Hardie Industries PLC. (NYSE:JHX) by 5,001.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 997,875 shares of the construction company’s stock after acquiring an additional 978,314 shares during the quarter. Millennium Management LLC owned 0.23% of James Hardie Industries worth $23,510,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. SVB Wealth LLC purchased a new position in James Hardie Industries in the 1st quarter worth about $57,000. Smartleaf Asset Management LLC increased its stake in James Hardie Industries by 12.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,683 shares of the construction company’s stock worth $89,000 after buying an additional 397 shares during the period. Russell Investments Group Ltd. increased its stake in James Hardie Industries by 49.0% in the 1st quarter. Russell Investments Group Ltd. now owns 7,776 shares of the construction company’s stock worth $183,000 after buying an additional 2,556 shares during the period. Versant Capital Management Inc increased its stake in James Hardie Industries by 854.5% in the 1st quarter. Versant Capital Management Inc now owns 7,875 shares of the construction company’s stock worth $186,000 after buying an additional 7,050 shares during the period. Finally, AdvisorNet Financial Inc increased its stake in James Hardie Industries by 672.7% in the 1st quarter. AdvisorNet Financial Inc now owns 8,500 shares of the construction company’s stock worth $200,000 after buying an additional 7,400 shares during the period. Institutional investors own 7.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Robert W. Baird reduced their price target on shares of James Hardie Industries from $32.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 20th. Truist Financial cut their target price on shares of James Hardie Industries from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 20th. Baird R W raised shares of James Hardie Industries to a “strong-buy” rating in a research report on Friday, July 11th. William Blair assumed coverage on shares of James Hardie Industries in a research report on Friday, June 27th. They set an “outperform” rating on the stock. Finally, Macquarie raised shares of James Hardie Industries from a “neutral” rating to an “outperform” rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $33.27.

James Hardie Industries Stock Up 0.0%

JHX stock opened at $20.02 on Friday. The firm has a 50 day moving average of $24.77 and a 200 day moving average of $25.34. The stock has a market capitalization of $8.61 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 2.36 and a beta of 1.74. The company has a quick ratio of 3.31, a current ratio of 3.76 and a debt-to-equity ratio of 1.12. James Hardie Industries PLC. has a 52 week low of $17.91 and a 52 week high of $43.57.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Tuesday, August 19th. The construction company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.07). James Hardie Industries had a net margin of 8.75% and a return on equity of 27.95%. The business had revenue of $899.90 million for the quarter, compared to analyst estimates of $982.60 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The business’s revenue was down 9.3% on a year-over-year basis. Sell-side analysts forecast that James Hardie Industries PLC. will post 1.39 earnings per share for the current year.

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.