Gotham Asset Management LLC Purchases New Position in James Hardie Industries PLC. $JHX

Gotham Asset Management LLC purchased a new stake in shares of James Hardie Industries PLC. (NYSE:JHX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,564,473 shares of the construction company’s stock, valued at approximately $30,054,000. Gotham Asset Management LLC owned approximately 0.36% of James Hardie Industries as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund purchased a new stake in James Hardie Industries during the 3rd quarter valued at $1,115,000. Phoenix Financial Ltd. purchased a new position in shares of James Hardie Industries during the third quarter valued at approximately $105,839,000. Massachusetts Financial Services Co. MA raised its stake in 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 valued at $261,273,000 after buying an additional 882,795 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in James Hardie Industries during the third quarter valued at $9,577,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of James Hardie Industries during the 3rd quarter valued at about $2,184,000. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

James Hardie Industries Stock Performance

Shares of NYSE:JHX opened at $19.93 on Tuesday. The firm’s 50 day simple moving average is $23.38 and its 200-day simple moving average is $21.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.54. James Hardie Industries PLC. has a one year low of $16.46 and a one year high of $32.69. The firm has a market cap of $8.56 billion, a PE ratio of 73.80, a price-to-earnings-growth ratio of 4.38 and a beta of 1.78.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. JPMorgan Chase & Co. upgraded James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 11th. Barclays lifted their price target on shares of James Hardie Industries from $21.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, February 12th. Robert W. Baird decreased their price objective on James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Raymond James Financial set a $21.00 price target on shares of James Hardie Industries in a research note on Monday, December 8th. Finally, Oppenheimer increased their price objective on shares of James Hardie Industries from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $26.71.

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.