James Hardie Industries (NYSE:JHX) Hits New 12-Month High – Here’s Why

Shares of James Hardie Industries PLC. (NYSE:JHX) reached a new 52-week high on Tuesday . The company traded as high as $31.43 and last traded at $30.4840, with a volume of 895580 shares trading hands. The stock had previously closed at $30.39.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Zacks Research raised James Hardie Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Robert W. Baird set a $34.00 target price on James Hardie Industries in a report on Friday, August 7th. Stephens boosted their target price on James Hardie Industries from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Barclays raised James Hardie Industries from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $26.00 to $35.00 in a research note on Monday, August 10th. Finally, Raymond James Financial set a $35.00 price target on shares of James Hardie Industries in a research report on Monday, August 10th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

James Hardie Industries Trading Down 0.4%

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 stock has a market capitalization of $17.57 billion, a P/E ratio of 120.90, a price-to-earnings-growth ratio of 2.61 and a beta of 1.77. The company has a fifty day simple moving average of $27.82 and a two-hundred day simple moving average of $23.91.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings results on Thursday, August 6th. The construction company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. James Hardie Industries had a return on equity of 10.56% and a net margin of 2.69%.The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm posted $0.29 earnings per share. James Hardie Industries’s revenue was up 63.9% compared to the same quarter last year. On average, sell-side analysts expect that James Hardie Industries PLC. will post 1.41 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of JHX. Wellington Management Group LLP grew its holdings in shares of James Hardie Industries by 259.7% during the third quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company’s stock worth $972,981,000 after buying an additional 36,567,726 shares in the last quarter. JPMorgan Chase & Co. boosted its position in James Hardie Industries by 22.2% during the 4th quarter. JPMorgan Chase & Co. now owns 9,690,174 shares of the construction company’s stock worth $201,071,000 after acquiring an additional 1,758,111 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in James Hardie Industries by 12.3% during the 2nd quarter. Alyeska Investment Group L.P. now owns 8,737,905 shares of the construction company’s stock worth $228,758,000 after acquiring an additional 954,317 shares during the last quarter. Hill City Capital LP grew its stake in shares of James Hardie Industries by 1.8% during the 2nd quarter. Hill City Capital LP now owns 5,723,900 shares of the construction company’s stock worth $149,852,000 after acquiring an additional 102,200 shares in the last quarter. Finally, RDST Capital LLC grew its stake in shares of James Hardie Industries by 24.0% during the 2nd quarter. RDST Capital LLC now owns 4,015,067 shares of the construction company’s stock worth $105,114,000 after acquiring an additional 776,950 shares in the last quarter. Institutional investors own 7.96% of the company’s stock.

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.