UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 210,729 Shares of James Hardie Industries PLC. $JHX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of James Hardie Industries PLC. (NYSE:JHX) by 107.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 407,485 shares of the construction company’s stock after buying an additional 210,729 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in James Hardie Industries were worth $10,668,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JHX. Northwestern Mutual Wealth Management Co. increased its stake in James Hardie Industries by 11,238.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock worth $40,000 after acquiring an additional 1,461 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of James Hardie Industries during the 1st quarter valued at about $28,000. Modus Advisors LLC purchased a new position in shares of James Hardie Industries during the fourth quarter worth about $31,000. Global Retirement Partners LLC increased its position in shares of James Hardie Industries by 3,431.1% in the fourth 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. bought a new position in shares of James Hardie Industries in the fourth quarter worth approximately $41,000. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

James Hardie Industries Stock Down 0.1%

Shares of JHX opened at $30.35 on Monday. The firm has a market cap of $17.61 billion, a P/E ratio of 121.40, a P/E/G ratio of 2.61 and a beta of 1.77. The stock has a 50 day simple moving average of $27.74 and a two-hundred day simple moving average of $23.88. 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 PLC. has a 1 year low of $16.46 and a 1 year high of $31.35.

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. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate 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 was up 63.9% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. On average, analysts forecast that James Hardie Industries PLC. will post 1.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

JHX has been the subject of several research analyst reports. Oppenheimer lifted their target price on shares of James Hardie Industries from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Truist Financial increased their price target on shares of James Hardie Industries from $30.00 to $40.00 and gave the stock a “buy” rating in a report 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. Stephens upped their target price on shares of James Hardie Industries from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Barclays raised James Hardie Industries from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $26.00 to $35.00 in a research note 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 data from MarketBeat, James Hardie Industries has a consensus rating of “Moderate Buy” and a consensus target price 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.