James Hardie Industries PLC. $JHX Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its holdings in shares of James Hardie Industries PLC. (NYSE:JHX) by 6.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,600,870 shares of the construction company’s stock after purchasing an additional 882,795 shares during the quarter. Massachusetts Financial Services Co. MA owned 3.16% of James Hardie Industries worth $261,273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Balyasny Asset Management L.P. boosted its stake in shares of James Hardie Industries by 1,883.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 3,874,198 shares of the construction company’s stock valued at $104,177,000 after buying an additional 3,678,889 shares during the last quarter. Eminence Capital LP bought a new stake in shares of James Hardie Industries in the second quarter worth $83,249,000. Stephens Investment Management Group LLC acquired a new stake in James Hardie Industries in the third quarter valued at $38,552,000. Moore Capital Management LP bought a new position in James Hardie Industries during the 2nd quarter valued at $48,927,000. Finally, Goldman Sachs Group Inc. grew its holdings in James Hardie Industries by 160.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock worth $63,557,000 after acquiring an additional 1,662,743 shares in the last quarter. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. CLSA upgraded shares of James Hardie Industries to a “hold” rating in a research note on Wednesday, October 8th. Barclays started coverage on James Hardie Industries in a report on Monday, December 8th. They issued an “equal weight” rating and a $21.00 price objective for the company. Vertical Research upgraded 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. Wolfe Research started coverage on James Hardie Industries in a research note on Tuesday, September 30th. They set an “outperform” rating and a $25.00 price objective on the stock. Finally, Truist Financial lifted their price objective on shares of James Hardie Industries from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, James Hardie Industries currently has a consensus rating of “Moderate Buy” and an average target price of $25.93.

James Hardie Industries Price Performance

Shares of JHX opened at $23.67 on Tuesday. James Hardie Industries PLC. has a 12 month low of $16.46 and a 12 month high of $34.96. 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 stock has a fifty day moving average price of $20.20 and a 200 day moving average price of $21.91. The company has a market cap of $10.17 billion, a P/E ratio of 49.31, a PEG ratio of 7.61 and a beta of 1.80.

James Hardie Industries (NYSE:JHX) last announced 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 company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. James Hardie Industries had a net margin of 4.67% and a return on equity of 18.40%. The company’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. On average, research analysts forecast that James Hardie Industries PLC. will post 1.39 earnings per share for the current year.

James Hardie Industries Profile

James Hardie Industries plc (NYSE: JHX) is a global manufacturer of high-performance fiber cement building products. The company specializes in exterior cladding, trim and soffit, as well as interior backerboard solutions designed for residential and commercial construction. By combining cement, sand and cellulose fibers, James Hardie produces durable, low-maintenance materials that resist moisture, fire and termite damage, catering to builders, contractors and homeowners through a network of distributors and retail channels.

The company’s flagship products include Hardie® Plank® and Hardie® Panel® siding systems, Hardie® BackerBoard® for tile applications, and a range of architectural trim solutions.