Gradient Investments LLC Reduces Stock Position in James Hardie Industries PLC. $JHX

Gradient Investments LLC cut its stake in James Hardie Industries PLC. (NYSE:JHX) by 92.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 56,736 shares of the construction company’s stock after selling 655,475 shares during the period. Gradient Investments LLC’s holdings in James Hardie Industries were worth $1,177,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in James Hardie Industries by 17.0% in the first quarter. Royal Bank of Canada now owns 50,801 shares of the construction company’s stock worth $1,197,000 after purchasing an additional 7,396 shares during the last quarter. Goldman Sachs Group Inc. grew its position in James Hardie Industries by 160.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock worth $63,557,000 after purchasing an additional 1,662,743 shares during the period. Jane Street Group LLC raised its stake in James Hardie Industries by 222.4% during the 1st quarter. Jane Street Group LLC now owns 279,009 shares of the construction company’s stock valued at $6,573,000 after buying an additional 192,478 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of James Hardie Industries by 0.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 521,981 shares of the construction company’s stock valued at $14,036,000 after buying an additional 4,763 shares during the period. Finally, MAI Capital Management lifted its holdings in shares of James Hardie Industries by 4,266.7% during the 2nd quarter. MAI Capital Management now owns 1,310 shares of the construction company’s stock valued at $35,000 after buying an additional 1,280 shares during the period. 7.96% of the stock is owned by hedge funds and other institutional investors.

James Hardie Industries Trading Down 0.7%

Shares of JHX stock opened at $19.38 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.54 and a quick ratio of 0.95. The company has a market cap of $8.33 billion, a price-to-earnings ratio of 71.76, a PEG ratio of 4.35 and a beta of 1.78. James Hardie Industries PLC. has a 1 year low of $16.46 and a 1 year high of $29.83. The firm has a fifty day moving average price of $23.08 and a 200-day moving average price of $21.15.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. JPMorgan Chase & Co. raised James Hardie Industries from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 11th. Raymond James Financial set a $21.00 target price on James Hardie Industries in a report on Monday, December 8th. Truist Financial raised their target price on James Hardie Industries from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Zacks Research downgraded James Hardie Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Barclays upped 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 research report on Thursday, February 12th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.