Clearline Capital LP Has $12.99 Million Stake in James Hardie Industries PLC. $JHX

Clearline Capital LP raised its holdings in James Hardie Industries PLC. (NYSE:JHX) by 146.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 676,402 shares of the construction company’s stock after purchasing an additional 402,034 shares during the period. Clearline Capital LP owned approximately 0.16% of James Hardie Industries worth $12,994,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in JHX. California Public Employees Retirement System bought a new position in shares of James Hardie Industries during the third quarter worth approximately $3,561,000. Aristotle Capital Boston LLC bought a new stake in shares of James Hardie Industries in the third quarter valued at approximately $14,019,000. ArrowMark Colorado Holdings LLC acquired a new stake in James Hardie Industries during the third quarter worth approximately $3,611,000. Alliancebernstein L.P. acquired a new stake in James Hardie Industries during the third quarter worth approximately $1,090,000. Finally, Ameriprise Financial Inc. increased its stake in James Hardie Industries by 687.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 90,562 shares of the construction company’s stock worth $1,736,000 after acquiring an additional 79,060 shares during the period. Institutional investors and hedge funds own 7.96% of the company’s stock.

Analysts Set New Price Targets

JHX has been the subject of several analyst reports. Barclays lifted their price objective on James Hardie Industries from $21.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, February 12th. Vertical Research upgraded James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Wednesday, November 19th. Zacks Research downgraded James Hardie Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Robert W. Baird cut their price objective on shares of James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Finally, Truist Financial upped their price objective on shares of James Hardie Industries from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.71.

James Hardie Industries Stock Down 0.2%

Shares of NYSE:JHX opened at $19.62 on Friday. James Hardie Industries PLC. has a 52-week low of $16.46 and a 52-week high of $32.69. The company has a market capitalization of $8.43 billion, a PE ratio of 72.66, a price-to-earnings-growth ratio of 4.38 and a beta of 1.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.54. The company has a fifty day moving average of $23.40 and a 200-day moving average of $21.16.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings data on Tuesday, February 10th. The construction company reported $0.24 earnings per share for the quarter, beating the consensus estimate 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 revenue for the quarter was up 30.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 EPS. On average, equities analysts predict that James Hardie Industries PLC. will post 1.39 EPS for the current fiscal year.

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.