Kinetic Partners Management LP Sells 412,100 Shares of James Hardie Industries PLC. $JHX

Kinetic Partners Management LP trimmed its holdings in shares of James Hardie Industries PLC. (NYSE:JHX) by 24.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,300,000 shares of the construction company’s stock after selling 412,100 shares during the period. James Hardie Industries makes up about 0.8% of Kinetic Partners Management LP’s investment portfolio, making the stock its 26th biggest position. Kinetic Partners Management LP’s holdings in James Hardie Industries were worth $34,034,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Handelsbanken Fonder AB acquired a new stake in James Hardie Industries in the 2nd quarter valued at $5,459,000. Capula Management Ltd acquired a new position in James Hardie Industries during the first quarter worth $6,620,000. Renaissance Technologies LLC raised its stake in James Hardie Industries by 48.5% during the first quarter. Renaissance Technologies LLC now owns 3,839,489 shares of the construction company’s stock worth $72,720,000 after acquiring an additional 1,254,400 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of James Hardie Industries by 42.9% during the first quarter. Sei Investments Co. now owns 718,202 shares of the construction company’s stock valued at $13,603,000 after acquiring an additional 215,752 shares during the period. Finally, TimesSquare Capital Management LLC lifted its holdings in shares of James Hardie Industries by 25.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 2,003,166 shares of the construction company’s stock valued at $41,566,000 after acquiring an additional 401,435 shares during the period. 7.96% of the stock is currently owned by institutional investors and hedge funds.

James Hardie Industries Stock Up 0.6%

Shares of NYSE:JHX opened at $30.38 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.59 and a debt-to-equity ratio of 0.66. The firm has a market cap of $17.63 billion, a P/E ratio of 121.52, a P/E/G ratio of 2.60 and a beta of 1.77. James Hardie Industries PLC. has a 12 month low of $16.46 and a 12 month high of $31.35. The company’s 50-day moving average price is $27.05 and its two-hundred day moving average price is $23.60.

James Hardie Industries (NYSE:JHX) last announced its earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. The company’s revenue was up 63.9% on a year-over-year basis. As a group, research analysts forecast that James Hardie Industries PLC. will post 1.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JHX. Zacks Research raised shares of James Hardie Industries from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Stephens lifted their price target on shares of James Hardie Industries from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Truist Financial boosted their price target on shares of James Hardie Industries from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Raymond James Financial set a $35.00 price objective on shares of James Hardie Industries in a research note on Monday, August 10th. Finally, Robert W. Baird set a $34.00 target price on shares of James Hardie Industries in a research note on Friday, August 7th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.50.

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.