Elevation Point Wealth Partners LLC Invests $545,000 in James Hardie Industries PLC. $JHX

Elevation Point Wealth Partners LLC purchased a new position in shares of James Hardie Industries PLC. (NYSE:JHX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,834 shares of the construction company’s stock, valued at approximately $545,000.

Several other large investors also recently bought and sold shares of JHX. Northwestern Mutual Wealth Management Co. raised its holdings in James Hardie Industries by 25.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 12,387 shares of the construction company’s stock valued at $324,000 after acquiring an additional 2,520 shares during the last quarter. Farringdon Capital Ltd. acquired a new position in shares of James Hardie Industries during the 2nd quarter worth approximately $203,000. Landscape Capital Management L.L.C. acquired a new position in shares of James Hardie Industries during the 2nd quarter worth approximately $210,000. Callan Family Office LLC purchased a new stake in shares of James Hardie Industries in the second quarter valued at approximately $221,000. Finally, Handelsbanken Fonder AB purchased a new stake in shares of James Hardie Industries in the second quarter valued at approximately $5,459,000. Hedge funds and other institutional investors own 7.96% of the company’s stock.

James Hardie Industries Price Performance

Shares of JHX opened at $30.38 on Wednesday. James Hardie Industries PLC. has a 1-year low of $16.46 and a 1-year high of $31.35. The stock has a market cap of $17.63 billion, a PE ratio of 121.52, a P/E/G ratio of 2.60 and a beta of 1.77. The firm has a 50-day simple moving average of $27.05 and a two-hundred day simple moving average of $23.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.59 and a quick ratio of 1.03.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings data on Thursday, August 6th. The construction company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.42 billion. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The business’s revenue for the quarter was up 63.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 EPS. As a group, analysts forecast that James Hardie Industries PLC. will post 1.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on JHX shares. Zacks Research raised James Hardie Industries from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Stephens boosted their price objective on James Hardie Industries from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Barclays upgraded James Hardie Industries from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $26.00 to $35.00 in a report on Monday, August 10th. 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 shares of James Hardie Industries in a research report on Monday, August 10th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, James Hardie Industries currently 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.