Teachers Retirement System of The State of Kentucky Purchases New Position in James Hardie Industries PLC. $JHX

Teachers Retirement System of The State of Kentucky acquired a new stake in James Hardie Industries PLC. (NYSE:JHX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 72,384 shares of the construction company’s stock, valued at approximately $1,390,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of James Hardie Industries by 6.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,600,870 shares of the construction company’s stock worth $261,273,000 after buying an additional 882,795 shares in the last quarter. Phoenix Financial Ltd. acquired a new position in James Hardie Industries in the 3rd quarter worth about $105,839,000. Balyasny Asset Management L.P. increased its holdings in James Hardie Industries by 1,883.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 3,874,198 shares of the construction company’s stock worth $104,177,000 after purchasing an additional 3,678,889 shares in the last quarter. Eminence Capital LP acquired a new position in James Hardie Industries in the 2nd quarter worth about $83,249,000. Finally, Goldman Sachs Group Inc. raised its position in James Hardie Industries by 160.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock valued at $63,557,000 after purchasing an additional 1,662,743 shares during the last quarter. Institutional investors own 7.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on JHX shares. Truist Financial upped their price objective on James Hardie Industries from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Raymond James Financial set a $21.00 target price on James Hardie Industries in a research report on Monday, December 8th. Oppenheimer raised their price objective on James Hardie Industries from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Zacks Research cut James Hardie Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Barclays raised their price target on shares of James Hardie Industries from $21.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.71.

James Hardie Industries Trading Down 1.6%

NYSE JHX opened at $22.10 on Friday. The stock has a market capitalization of $9.50 billion, a P/E ratio of 81.85, a P/E/G ratio of 5.01 and a beta of 1.78. The business has a 50 day simple moving average of $23.44 and a 200 day simple moving average of $21.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.54 and a quick ratio of 0.95. James Hardie Industries PLC. has a one year low of $16.46 and a one year high of $32.69.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings results on Tuesday, February 10th. The construction company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. James Hardie Industries had a return on equity of 13.52% and a net margin of 2.70%.James Hardie Industries’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. Research analysts expect that James Hardie Industries PLC. will post 1.39 earnings per share for the current 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.