James Hardie Industries PLC. $JHX Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its holdings in shares of James Hardie Industries PLC. (NYSE:JHX) by 51.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,432 shares of the construction company’s stock after selling 120,301 shares during the period. Royal Bank of Canada’s holdings in James Hardie Industries were worth $2,129,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in James Hardie Industries during the 1st quarter valued at about $28,000. Modus Advisors LLC purchased a new stake in shares of James Hardie Industries during the fourth quarter worth about $31,000. Global Retirement Partners LLC grew its stake in shares of James Hardie Industries by 3,431.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,589 shares of the construction company’s stock worth $33,000 after acquiring an additional 1,544 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of James Hardie Industries by 11,238.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock valued at $40,000 after acquiring an additional 1,461 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of James Hardie Industries during the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 7.96% of the company’s stock.

James Hardie Industries Trading Down 1.8%

Shares of NYSE:JHX opened at $30.47 on Tuesday. James Hardie Industries PLC. has a 12-month low of $16.46 and a 12-month high of $31.35. The company has a market capitalization of $17.68 billion, a PE ratio of 121.88, a PEG ratio of 1.95 and a beta of 1.77. The business has a 50 day moving average of $26.32 and a two-hundred day moving average of $23.32. The company has a current ratio of 1.59, a quick ratio of 1.03 and a debt-to-equity ratio of 0.66.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings results on Thursday, August 6th. The construction company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.32 by $0.04. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business earned $0.29 earnings per share. The firm’s revenue was up 63.9% on a year-over-year basis. As a group, analysts forecast that James Hardie Industries PLC. will post 1.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on JHX shares. Zacks Research upgraded shares of James Hardie Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Barclays raised shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $26.00 to $35.00 in a report on Monday, August 10th. Truist Financial upped their target price on James Hardie Industries from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Robert W. Baird set a $34.00 target price on James Hardie Industries in a research note on Friday, August 7th. Finally, Raymond James Financial set a $35.00 price target on James Hardie Industries in a research note on Monday, August 10th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.50.

James Hardie Industries Company 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.