Tobam Invests $1.72 Million in James Hardie Industries PLC. $JHX

Tobam acquired a new stake in James Hardie Industries PLC. (NYSE:JHX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 89,373 shares of the construction company’s stock, valued at approximately $1,717,000.

Several other large investors have also added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd acquired a new stake in James Hardie Industries in the second quarter valued at $654,000. New York State Common Retirement Fund acquired a new position in James Hardie Industries during the third quarter worth approximately $1,115,000. Phoenix Financial Ltd. acquired a new stake in shares of James Hardie Industries in the third quarter valued at approximately $105,839,000. Massachusetts Financial Services Co. MA boosted its stake in shares of James Hardie Industries by 6.9% during 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 stake in James Hardie Industries in the 2nd quarter valued at $5,542,000. Institutional investors and hedge funds own 7.96% of the company’s stock.

Wall Street Analyst Weigh In

JHX has been the topic of several research analyst reports. JPMorgan Chase & Co. raised shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 11th. Truist Financial raised their price objective on shares of James Hardie Industries from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird decreased their target price on James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Vertical Research upgraded James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, November 19th. Finally, Raymond James Financial set a $21.00 price target on James Hardie Industries in a research note on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.71.

James Hardie Industries Stock Performance

NYSE:JHX opened at $25.86 on Monday. The company has a market cap of $11.11 billion, a price-to-earnings ratio of 95.76, a PEG ratio of 5.77 and a beta of 1.80. James Hardie Industries PLC. has a fifty-two week low of $16.46 and a fifty-two week high of $33.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.54. The stock has a fifty day moving average price of $22.32 and a 200-day moving average price of $21.49.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings results on Tuesday, February 10th. The construction company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates 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 had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the firm earned $0.36 earnings per share. James Hardie Industries’s revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, equities analysts anticipate that James Hardie Industries PLC. will post 1.39 EPS for the current fiscal year.

James Hardie Industries 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.