Clearline Capital LP Purchases 402,034 Shares of James Hardie Industries PLC. $JHX

Clearline Capital LP increased its position in James Hardie Industries PLC. (NYSE:JHX) by 146.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 676,402 shares of the construction company’s stock after buying an additional 402,034 shares during the quarter. Clearline Capital LP’s holdings in James Hardie Industries were worth $12,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. New York State Common Retirement Fund acquired a new position in James Hardie Industries in the 3rd quarter valued at approximately $1,115,000. Phoenix Financial Ltd. acquired a new position in shares of James Hardie Industries during the third quarter worth $105,839,000. Massachusetts Financial Services Co. MA grew its stake in shares of James Hardie Industries by 6.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,600,870 shares of the construction company’s stock worth $261,273,000 after purchasing an additional 882,795 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in shares of James Hardie Industries in the third quarter worth $9,577,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in James Hardie Industries in the third quarter valued at $2,184,000. Institutional investors own 7.96% of the company’s stock.

Wall Street Analyst Weigh In

JHX has been the subject of several analyst reports. Zacks Research lowered James Hardie Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. JPMorgan Chase & Co. upgraded James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 11th. Truist Financial increased their price target on James Hardie Industries from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Robert W. Baird lowered their price objective on James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Finally, Barclays lifted their price objective on James Hardie Industries from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 12th. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.71.

James Hardie Industries Trading Down 0.2%

NYSE JHX opened at $19.62 on Friday. The stock has a market capitalization of $8.43 billion, a P/E ratio of 72.66, a P/E/G ratio of 4.38 and a beta of 1.78. The business has a 50 day simple moving average of $23.40 and a 200 day simple moving average of $21.16. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.54 and a quick ratio of 0.95. James Hardie Industries PLC. has a one year low of $16.46 and a one year high of $32.69.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings results on Tuesday, February 10th. The construction company reported $0.24 earnings per share (EPS) for the quarter, beating 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 business’s revenue was up 30.1% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. Research analysts expect that James Hardie Industries PLC. will post 1.39 earnings per share for the current year.

About James Hardie Industries

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.