Balyasny Asset Management L.P. Purchases 3,678,889 Shares of James Hardie Industries PLC. $JHX

Balyasny Asset Management L.P. increased its position in shares of James Hardie Industries PLC. (NYSE:JHX) by 1,883.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,874,198 shares of the construction company’s stock after buying an additional 3,678,889 shares during the period. Balyasny Asset Management L.P. owned 0.90% of James Hardie Industries worth $104,177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC increased its stake in shares of James Hardie Industries by 70.4% during the 2nd quarter. TD Private Client Wealth LLC now owns 1,101 shares of the construction company’s stock worth $30,000 after purchasing an additional 455 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in James Hardie Industries by 641.2% during the second quarter. Hantz Financial Services Inc. now owns 1,223 shares of the construction company’s stock worth $33,000 after purchasing an additional 1,058 shares during the period. MAI Capital Management grew its holdings in James Hardie Industries by 4,266.7% during the second quarter. MAI Capital Management now owns 1,310 shares of the construction company’s stock worth $35,000 after purchasing an additional 1,280 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in James Hardie Industries by 11,238.5% during the second 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. Finally, AlphaCore Capital LLC bought a new stake in James Hardie Industries in the second quarter valued at approximately $52,000. Institutional investors and hedge funds own 7.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on JHX shares. Barclays began coverage on James Hardie Industries in a report on Monday, December 8th. They set an “equal weight” rating and a $21.00 target price on the stock. Robert W. Baird dropped their price objective on shares of James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Zacks Research raised shares of James Hardie Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Raymond James Financial set a $21.00 price target on shares of James Hardie Industries in a report on Monday. Finally, Wolfe Research initiated coverage on James Hardie Industries in a report on Tuesday, September 30th. They set an “outperform” rating and a $25.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.93.

James Hardie Industries Stock Performance

Shares of NYSE:JHX opened at $20.60 on Friday. James Hardie Industries PLC. has a 12-month low of $16.46 and a 12-month high of $34.96. The company’s 50 day moving average price is $19.90 and its two-hundred day moving average price is $22.70. The firm has a market cap of $8.85 billion, a PE ratio of 42.91, a PEG ratio of 7.63 and a beta of 1.80. The company has a quick ratio of 1.23, a current ratio of 1.79 and a debt-to-equity ratio of 0.80.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings results on Monday, November 17th. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. James Hardie Industries had a return on equity of 18.40% and a net margin of 4.67%.The firm’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. Equities research analysts predict that James Hardie Industries PLC. will post 1.39 earnings per share for the current year.

James Hardie Industries Company Profile

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.