ArrowMark Colorado Holdings LLC Buys New Shares in James Hardie Industries PLC. $JHX

ArrowMark Colorado Holdings LLC bought a new position in shares of James Hardie Industries PLC. (NYSE:JHX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 188,000 shares of the construction company’s stock, valued at approximately $3,611,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in shares of James Hardie Industries by 259.7% during the 3rd quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company’s stock valued at $972,981,000 after acquiring an additional 36,567,726 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of James Hardie Industries by 241.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,718,075 shares of the construction company’s stock worth $341,989,000 after acquiring an additional 8,988,938 shares during the last quarter. Phoenix Financial Ltd. acquired a new position in shares of James Hardie Industries in the 3rd quarter worth $105,839,000. Capital World Investors acquired a new stake in shares of James Hardie Industries during the third quarter worth $86,121,000. Finally, Balyasny Asset Management L.P. raised its position in shares of James Hardie Industries by 1,883.6% during the second quarter. Balyasny Asset Management L.P. now owns 3,874,198 shares of the construction company’s stock worth $104,177,000 after purchasing an additional 3,678,889 shares during the period. Institutional investors and hedge funds own 7.96% of the company’s stock.

James Hardie Industries Price Performance

JHX opened at $19.62 on Monday. The stock has a fifty day moving average of $23.40 and a 200-day moving average of $21.16. The firm has a market capitalization of $8.43 billion, a P/E ratio of 72.66, a PEG ratio of 4.38 and a beta of 1.78. James Hardie Industries PLC. has a 12-month low of $16.46 and a 12-month high of $32.69. The company has a quick ratio of 0.95, a current ratio of 1.54 and a debt-to-equity ratio of 0.73.

James Hardie Industries (NYSE:JHX) last issued its earnings results on Tuesday, February 10th. The construction company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. James Hardie Industries had a return on equity of 13.52% and a net margin of 2.70%.The company’s revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 earnings per share. Equities analysts forecast that James Hardie Industries PLC. will post 1.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on JHX shares. JPMorgan Chase & Co. upgraded James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 11th. Zacks Research downgraded James Hardie Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Raymond James Financial set a $21.00 price objective on shares of James Hardie Industries in a research note on Monday, December 8th. Vertical Research upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Wednesday, November 19th. Finally, Robert W. Baird dropped their target price 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. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.71.

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.