M&T Bank Corp Takes $293,000 Position in James Hardie Industries plc (NYSE:JHX)

M&T Bank Corp bought a new stake in James Hardie Industries plc (NYSE:JHX) in the third quarter, HoldingsChannel reports. The fund bought 7,308 shares of the construction company’s stock, valued at approximately $293,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC lifted its stake in James Hardie Industries by 145.8% in the third quarter. Orion Portfolio Solutions LLC now owns 29,150 shares of the construction company’s stock valued at $1,170,000 after buying an additional 17,290 shares during the last quarter. Quantinno Capital Management LP raised its position in James Hardie Industries by 49.0% in the 3rd quarter. Quantinno Capital Management LP now owns 58,576 shares of the construction company’s stock valued at $2,352,000 after purchasing an additional 19,268 shares during the last quarter. Pinpoint Asset Management Ltd acquired a new stake in James Hardie Industries during the 3rd quarter worth $64,000. HighTower Advisors LLC purchased a new position in James Hardie Industries during the 3rd quarter worth $202,000. Finally, Captrust Financial Advisors acquired a new position in James Hardie Industries in the third quarter valued at $447,000. Hedge funds and other institutional investors own 7.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. StockNews.com raised James Hardie Industries from a “hold” rating to a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. raised James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 6th. Finally, Truist Financial started coverage on James Hardie Industries in a report on Tuesday, December 10th. They issued a “buy” rating and a $45.00 target price on the stock. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.25.

James Hardie Industries Stock Down 3.4 %

Shares of NYSE:JHX opened at $32.53 on Thursday. James Hardie Industries plc has a fifty-two week low of $29.88 and a fifty-two week high of $43.57. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $34.66 and its 200-day simple moving average is $34.57. The company has a market cap of $13.97 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 4.35 and a beta of 1.77.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Tuesday, November 12th. The construction company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $960.80 million for the quarter, compared to analyst estimates of $973.49 million. James Hardie Industries had a return on equity of 35.93% and a net margin of 11.16%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 EPS. As a group, equities research analysts predict that James Hardie Industries plc will post 1.47 earnings per share for the current year.

About James Hardie Industries

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.