Public Employees Retirement System of Ohio Makes New Investment in James Hardie Industries PLC. $JHX

Public Employees Retirement System of Ohio purchased a new position in James Hardie Industries PLC. (NYSE:JHX) in the 2nd quarter, Holdings Channel reports. The firm purchased 42,543 shares of the construction company’s stock, valued at approximately $1,114,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JHX. Corient Private Wealth LP increased its holdings in James Hardie Industries by 122.0% in the 2nd quarter. Corient Private Wealth LP now owns 26,351 shares of the construction company’s stock worth $690,000 after buying an additional 14,480 shares in the last quarter. Fund 1 Investments LLC purchased a new stake in shares of James Hardie Industries during the 2nd quarter valued at about $1,047,000. Castleark Management LLC bought a new stake in shares of James Hardie Industries in the second quarter worth approximately $6,120,000. RDST Capital LLC grew its stake in shares of James Hardie Industries by 24.0% in the second quarter. RDST Capital LLC now owns 4,015,067 shares of the construction company’s stock worth $105,114,000 after acquiring an additional 776,950 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of James Hardie Industries during the second quarter valued at approximately $248,000. 7.96% of the stock is owned by institutional investors.

James Hardie Industries Trading Down 1.8%

Shares of James Hardie Industries stock opened at $29.84 on Wednesday. The company’s fifty day simple moving average is $27.90 and its 200-day simple moving average is $23.94. The stock has a market capitalization of $17.31 billion, a PE ratio of 119.34, a P/E/G ratio of 2.61 and a beta of 1.77. James Hardie Industries PLC. has a 1-year low of $16.46 and a 1-year high of $31.43. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $1.47 billion during 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 company’s revenue for the quarter was up 63.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 EPS. As a group, equities analysts anticipate that James Hardie Industries PLC. will post 1.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

JHX has been the topic of a number of research analyst reports. Truist Financial increased their price objective on shares of James Hardie Industries from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Stephens boosted their target price on shares of James Hardie Industries from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Barclays raised James Hardie Industries from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $26.00 to $35.00 in a report on Monday, August 10th. Robert W. Baird set a $34.00 price target on James Hardie Industries in a research note on Friday, August 7th. Finally, Zacks Research raised James Hardie Industries from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, James Hardie Industries has an average rating of “Moderate Buy” and an average price target of $32.50.

James Hardie Industries 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.