Squarepoint Ops LLC Acquires New Shares in James Hardie Industries PLC. $JHX

Squarepoint Ops LLC acquired a new position in James Hardie Industries PLC. (NYSE:JHX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,820,142 shares of the construction company’s stock, valued at approximately $47,651,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in James Hardie Industries by 11,238.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock valued at $40,000 after purchasing an additional 1,461 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of James Hardie Industries during the 1st quarter worth $28,000. Modus Advisors LLC purchased a new position in shares of James Hardie Industries during the 4th quarter worth $31,000. Global Retirement Partners LLC increased its position in shares of James Hardie Industries by 3,431.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the construction company’s stock worth $33,000 after purchasing an additional 1,544 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in James Hardie Industries in the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 7.96% of the company’s stock.

Wall Street Analyst Weigh In

JHX has been the subject of several research analyst reports. Oppenheimer increased their target price on shares of James Hardie Industries from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Robert W. Baird set a $34.00 price objective on shares of James Hardie Industries in a research report on Friday, August 7th. Barclays upgraded shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $26.00 to $35.00 in a report on Monday, August 10th. Truist Financial raised their price target on James Hardie Industries from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Raymond James Financial set a $35.00 price objective on James Hardie Industries in a report on Monday, August 10th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

James Hardie Industries Stock Down 1.8%

JHX stock opened at $29.84 on Wednesday. The company’s 50 day moving average price is $27.90 and its 200 day moving average price is $23.94. The firm has a market capitalization of $17.31 billion, a price-to-earnings ratio of 119.34, a PEG ratio of 2.61 and a beta of 1.77. James Hardie Industries PLC. has a fifty-two week low of $16.46 and a fifty-two week high of $31.43. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.59.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings results on Thursday, August 6th. The construction company reported $0.36 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business posted $0.29 EPS. The firm’s revenue was up 63.9% on a year-over-year basis. On average, equities research analysts anticipate that James Hardie Industries PLC. will post 1.41 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.