Gradient Investments LLC Takes $13.68 Million Position in James Hardie Industries PLC. $JHX

Gradient Investments LLC acquired a new position in shares of James Hardie Industries PLC. (NYSE:JHX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 712,211 shares of the construction company’s stock, valued at approximately $13,682,000. Gradient Investments LLC owned approximately 0.17% of James Hardie Industries as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its stake in shares of James Hardie Industries by 67.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,576 shares of the construction company’s stock worth $67,000 after acquiring an additional 1,034 shares during the last quarter. Orion Porfolio Solutions LLC grew its holdings in shares of James Hardie Industries by 91.3% in the second quarter. Orion Porfolio Solutions LLC now owns 67,263 shares of the construction company’s stock valued at $1,809,000 after purchasing an additional 32,107 shares during the period. Hudson Bay Capital Management LP increased its position in James Hardie Industries by 430.8% during the second quarter. Hudson Bay Capital Management LP now owns 265,398 shares of the construction company’s stock worth $7,137,000 after purchasing an additional 215,398 shares during the last quarter. Rexford Capital Inc. acquired a new stake in James Hardie Industries during the second quarter worth about $129,000. Finally, Tower Research Capital LLC TRC raised its stake in James Hardie Industries by 95,062.5% during the second quarter. Tower Research Capital LLC TRC now owns 22,839 shares of the construction company’s stock worth $614,000 after purchasing an additional 22,815 shares during the period. Institutional investors and hedge funds own 7.96% of the company’s stock.

Analyst Upgrades and Downgrades

JHX has been the subject of a number of recent analyst reports. Vertical Research upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Wednesday, November 19th. Raymond James Financial set a $21.00 target price on James Hardie Industries in a research note on Monday, December 8th. Robert W. Baird decreased their price target on James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Truist Financial raised their price objective on James Hardie Industries from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, CLSA upgraded shares of James Hardie Industries to a “hold” rating in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, James Hardie Industries currently has a consensus rating of “Moderate Buy” and an average price target of $25.93.

James Hardie Industries Stock Performance

Shares of James Hardie Industries stock opened at $20.26 on Thursday. The stock has a market capitalization of $8.71 billion, a price-to-earnings ratio of 42.20, a price-to-earnings-growth ratio of 7.60 and a beta of 1.80. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.79 and a quick ratio of 1.23. The business has a 50-day moving average of $19.85 and a 200 day moving average of $22.64. James Hardie Industries PLC. has a 12 month low of $16.46 and a 12 month high of $34.96.

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, topping analysts’ consensus estimates of $0.25 by $0.01. James Hardie Industries had a net margin of 4.67% and a return on equity of 18.40%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. The business’s revenue for the quarter was up 34.5% compared to the same quarter last year. As a group, sell-side analysts forecast 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.