Tabor Asset Management LP Acquires New Position in James Hardie Industries PLC. $JHX

Tabor Asset Management LP bought a new position in James Hardie Industries PLC. (NYSE:JHX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 206,091 shares of the construction company’s stock, valued at approximately $5,542,000. James Hardie Industries makes up approximately 3.8% of Tabor Asset Management LP’s investment portfolio, making the stock its 8th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of JHX. Smartleaf Asset Management LLC boosted its holdings 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. TD Private Client Wealth LLC boosted its holdings in shares of James Hardie Industries by 70.4% in the second quarter. TD Private Client Wealth LLC now owns 1,101 shares of the construction company’s stock worth $30,000 after acquiring an additional 455 shares during the period. Legacy Wealth Asset Management LLC grew its position in shares of James Hardie Industries by 2.9% in the second quarter. Legacy Wealth Asset Management LLC now owns 19,203 shares of the construction company’s stock valued at $516,000 after purchasing an additional 540 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of James Hardie Industries by 7.2% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 10,687 shares of the construction company’s stock valued at $252,000 after purchasing an additional 719 shares during the period. Finally, Rhumbline Advisers lifted its holdings in James Hardie Industries by 10.3% during the 1st quarter. Rhumbline Advisers now owns 10,694 shares of the construction company’s stock worth $252,000 after purchasing an additional 999 shares in the last quarter. Institutional investors own 7.96% of the company’s stock.

James Hardie Industries Trading Up 0.2%

Shares of James Hardie Industries stock opened at $17.38 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 3.76 and a quick ratio of 3.31. James Hardie Industries PLC. has a 1 year low of $16.64 and a 1 year high of $37.65. The firm has a market cap of $7.47 billion, a PE ratio of 22.57, a PEG ratio of 14.34 and a beta of 1.82. The company has a 50 day simple moving average of $20.31 and a two-hundred day simple moving average of $23.65.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings data on Tuesday, August 19th. The construction company reported $0.29 earnings per share 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 company had revenue of $899.90 million for the quarter, compared to analysts’ expectations of $982.60 million. During the same quarter last year, the business posted $0.41 EPS. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. Analysts expect that James Hardie Industries PLC. will post 1.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on JHX shares. Vertical Research assumed coverage on James Hardie Industries in a report on Monday, October 20th. They set a “hold” rating for the company. Macquarie raised shares of James Hardie Industries from a “neutral” rating to an “outperform” rating in a research note on Monday, July 28th. Citigroup raised shares of James Hardie Industries from a “neutral” rating to a “buy” rating in a report on Tuesday. Oppenheimer set a $28.00 price target on shares of James Hardie Industries and gave the company an “outperform” rating in a report on Wednesday, October 29th. Finally, UBS Group reaffirmed a “neutral” rating on shares of James Hardie Industries in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.91.

James Hardie Industries 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.