HighTower Advisors LLC Takes Position in James Hardie Industries plc (NYSE:JHX)

HighTower Advisors LLC acquired a new stake in James Hardie Industries plc (NYSE:JHX) in the third quarter, Holdings Channel reports. The fund acquired 5,126 shares of the construction company’s stock, valued at approximately $202,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in James Hardie Industries by 46.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the construction company’s stock valued at $55,000 after purchasing an additional 432 shares during the period. Huntington National Bank bought a new stake in James Hardie Industries in the 3rd quarter worth about $55,000. Cubist Systematic Strategies LLC purchased a new stake in James Hardie Industries in the 2nd quarter valued at about $66,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of James Hardie Industries by 144.2% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,828 shares of the construction company’s stock worth $89,000 after buying an additional 1,670 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of James Hardie Industries by 55.6% in the 3rd quarter. CWM LLC now owns 2,751 shares of the construction company’s stock worth $110,000 after buying an additional 983 shares during the last quarter. Institutional investors and hedge funds own 7.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on JHX. JPMorgan Chase & Co. raised James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 6th. Truist Financial started coverage on James Hardie Industries in a report on Tuesday, December 10th. They set a “buy” rating and a $45.00 price objective for the company. Finally, StockNews.com cut James Hardie Industries from a “buy” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $40.25.

James Hardie Industries Stock Up 1.0 %

Shares of NYSE:JHX opened at $31.87 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.02 and a quick ratio of 1.50. The company has a market cap of $13.70 billion, a price-to-earnings ratio of 31.55, a PEG ratio of 4.35 and a beta of 1.77. The firm has a fifty day moving average price of $34.19 and a two-hundred day moving average price of $34.59. James Hardie Industries plc has a one year low of $29.88 and a one year high of $43.57.

James Hardie Industries (NYSE:JHX) last announced its earnings results 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 business had revenue of $960.80 million during the quarter, compared to the consensus estimate of $973.49 million. James Hardie Industries had a net margin of 11.16% and a return on equity of 35.93%. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. Analysts anticipate that James Hardie Industries plc will post 1.47 EPS for the current fiscal year.

James Hardie Industries Profile

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.