Capital World Investors Invests $86.12 Million in James Hardie Industries PLC. $JHX

Capital World Investors bought a new stake in James Hardie Industries PLC. (NYSE:JHX) during the third quarter, HoldingsChannel.com reports. The fund bought 4,483,117 shares of the construction company’s stock, valued at approximately $86,121,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Russell Investments Group Ltd. raised its position in James Hardie Industries by 230.3% in the third quarter. Russell Investments Group Ltd. now owns 38,325 shares of the construction company’s stock valued at $736,000 after purchasing an additional 26,722 shares during the period. SPX Gestao de Recursos Ltda purchased a new stake in shares of James Hardie Industries in the third quarter worth about $1,952,000. Dimensional Fund Advisors LP grew its stake in shares of James Hardie Industries by 193.8% in the third quarter. Dimensional Fund Advisors LP now owns 187,131 shares of the construction company’s stock valued at $3,592,000 after buying an additional 123,442 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in shares of James Hardie Industries in the third quarter valued at about $378,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in shares of James Hardie Industries during the 3rd quarter valued at about $1,390,000. Institutional investors and hedge funds own 7.96% of the company’s stock.

James Hardie Industries Price Performance

Shares of NYSE JHX opened at $19.67 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.54 and a debt-to-equity ratio of 0.73. James Hardie Industries PLC. has a fifty-two week low of $16.46 and a fifty-two week high of $32.69. The business has a 50 day moving average price of $23.43 and a two-hundred day moving average price of $21.15. The firm has a market cap of $8.46 billion, a PE ratio of 72.85, a price-to-earnings-growth ratio of 4.59 and a beta of 1.78.

James Hardie Industries (NYSE:JHX) last announced its 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%.The business’s quarterly revenue was up 30.1% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. Sell-side analysts expect that James Hardie Industries PLC. will post 1.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

JHX has been the topic of several recent research reports. JPMorgan Chase & Co. raised James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 11th. Robert W. Baird dropped their price objective on shares of James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Barclays boosted their target price on shares of James Hardie Industries from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 12th. Zacks Research downgraded shares of James Hardie Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Truist Financial raised their price target on shares of James Hardie Industries from $28.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.71.

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.