Cercano Management LLC Invests $4.57 Million in James Hardie Industries PLC. $JHX

Cercano Management LLC purchased a new stake in shares of James Hardie Industries PLC. (NYSE:JHX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 237,647 shares of the construction company’s stock, valued at approximately $4,565,000.

A number of other hedge funds and other institutional investors have also modified their holdings of JHX. Y Intercept Hong Kong Ltd bought a new position in James Hardie Industries in the 2nd quarter valued at about $654,000. New York State Common Retirement Fund bought a new stake in shares of James Hardie Industries during the 3rd quarter worth about $1,115,000. Phoenix Financial Ltd. bought a new stake in shares of James Hardie Industries during the 3rd quarter worth about $105,839,000. Massachusetts Financial Services Co. MA lifted its stake in shares of James Hardie Industries by 6.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,600,870 shares of the construction company’s stock worth $261,273,000 after acquiring an additional 882,795 shares during the period. Finally, Tabor Asset Management LP bought a new position in shares of James Hardie Industries in the second quarter valued at approximately $5,542,000. 7.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

JHX has been the topic of several recent analyst reports. Truist Financial boosted their target price on James Hardie Industries from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Barclays lifted their price target on James Hardie Industries from $21.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Vertical Research raised James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Wednesday, November 19th. JPMorgan Chase & Co. upgraded James Hardie Industries from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 11th. Finally, Oppenheimer lifted their target price on James Hardie Industries from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.71.

James Hardie Industries Price Performance

NYSE JHX opened at $25.28 on Wednesday. James Hardie Industries PLC. has a 1 year low of $16.46 and a 1 year high of $32.99. The business’s fifty day moving average is $22.57 and its two-hundred day moving average is $21.48. The stock has a market capitalization of $10.87 billion, a P/E ratio of 93.63, a P/E/G ratio of 5.77 and a beta of 1.80. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.54.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings data on Tuesday, February 10th. The construction company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.21 billion. 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% compared to the same quarter last year. During the same period last year, the company posted $0.36 EPS. On average, research analysts forecast that James Hardie Industries PLC. will post 1.39 earnings per share for the current fiscal year.

James Hardie Industries Company 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.