167,480 Shares in James Hardie Industries PLC. $JHX Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management bought a new position in James Hardie Industries PLC. (NYSE:JHX) in the third quarter, HoldingsChannel.com reports. The fund bought 167,480 shares of the construction company’s stock, valued at approximately $4,239,000.

Several other hedge funds and other institutional investors have also modified their holdings of JHX. Engineers Gate Manager LP boosted its stake in James Hardie Industries by 153.8% in the 2nd quarter. Engineers Gate Manager LP now owns 739,441 shares of the construction company’s stock valued at $19,359,000 after buying an additional 448,047 shares in the last quarter. RDST Capital LLC grew its position in James Hardie Industries by 24.0% in the second quarter. RDST Capital LLC now owns 4,015,067 shares of the construction company’s stock valued at $105,114,000 after acquiring an additional 776,950 shares during the period. Fund 1 Investments LLC bought a new stake in James Hardie Industries in the second quarter valued at $1,047,000. Handelsbanken Fonder AB acquired a new position in James Hardie Industries during the second quarter worth $5,459,000. Finally, Capula Management Ltd acquired a new position in James Hardie Industries during the first quarter worth $6,620,000. Institutional investors own 7.96% of the company’s stock.

James Hardie Industries Stock Down 2.8%

Shares of JHX opened at $27.62 on Friday. The company has a market capitalization of $16.07 billion, a P/E ratio of 45.28, a PEG ratio of 2.83 and a beta of 1.78. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.12 and a quick ratio of 1.69. James Hardie Industries PLC. has a one year low of $16.46 and a one year high of $31.43. The business’s 50 day simple moving average is $26.79 and its 200-day simple moving average is $24.58.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings results on Thursday, November 5th. The construction company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. James Hardie Industries had a return on equity of 11.85% and a net margin of 6.36%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the company earned $0.26 EPS. James Hardie Industries’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, sell-side analysts predict that James Hardie Industries PLC. will post 1.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on JHX. Raymond James Financial set a $36.00 price objective on James Hardie Industries in a report on Tuesday, October 6th. Barclays raised shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $26.00 to $35.00 in a report on Monday, August 10th. Loop Capital began coverage on shares of James Hardie Industries in a report on Monday, September 14th. They issued a “buy” rating and a $35.00 target price on the stock. Truist Financial dropped their target price on shares of James Hardie Industries from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, November 6th. Finally, Robert W. Baird cut their price target on shares of James Hardie Industries from $34.00 to $32.00 and set an “outperform” rating for the company in a report on Tuesday, October 13th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.44.

James Hardie Industries Profile

James Hardie Industries plc is a global building-materials company best known for manufacturing fiber-cement products for residential and commercial construction. Its offerings include exterior siding and cladding, trim, and interior products such as backerboard used in tile installations. The company traces its history to 1888, when James Hardie established a business in Melbourne, Australia. It later developed and expanded its fiber-cement product business, becoming a major supplier of building products in several markets.