167,480 Shares of James Hardie Industries PLC. $JHX Bought by Ritholtz Wealth Management

Ritholtz Wealth Management bought a new stake in shares of James Hardie Industries PLC. (NYSE:JHX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 167,480 shares of the construction company’s stock, valued at approximately $4,239,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Engineers Gate Manager LP raised its stake in James Hardie Industries by 153.8% during the 2nd quarter. Engineers Gate Manager LP now owns 739,441 shares of the construction company’s stock valued at $19,359,000 after purchasing an additional 448,047 shares during the last quarter. RDST Capital LLC boosted its holdings in James Hardie Industries by 24.0% in the 2nd quarter. RDST Capital LLC now owns 4,015,067 shares of the construction company’s stock valued at $105,114,000 after purchasing an additional 776,950 shares during the period. Fund 1 Investments LLC bought a new stake in James Hardie Industries in the 2nd quarter valued at $1,047,000. Handelsbanken Fonder AB bought a new stake in James Hardie Industries in the 2nd quarter valued at $5,459,000. Finally, Capula Management Ltd bought a new stake in James Hardie Industries in the 1st quarter valued at $6,620,000. Institutional investors own 7.96% of the company’s stock.

James Hardie Industries Trading Down 2.8%

Shares of James Hardie Industries stock opened at $27.62 on Friday. The firm has a market capitalization of $16.07 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 2.83 and a beta of 1.78. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.12 and a quick ratio of 1.69. The company’s fifty day moving average price is $26.79 and its two-hundred day moving average price is $24.58. James Hardie Industries PLC. has a 52-week low of $16.46 and a 52-week high of $31.43.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings data on Thursday, November 5th. The construction company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. James Hardie Industries had a net margin of 6.36% and a return on equity of 11.85%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the firm earned $0.26 EPS. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts expect that James Hardie Industries PLC. will post 1.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Stephens dropped their price objective on shares of James Hardie Industries from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, November 6th. Raymond James Financial set a $36.00 price objective on shares of James Hardie Industries in a research report on Tuesday, October 6th. Citigroup cut shares of James Hardie Industries from a “buy” rating to a “neutral” rating in a research note on Monday, September 28th. Melius Research initiated coverage on James Hardie Industries in a research report on Tuesday, October 6th. They set a “buy” rating and a $36.00 target price on the stock. Finally, Truist Financial decreased their target price on James Hardie Industries from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, November 6th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.44.

About James Hardie Industries

James Hardie Industries plc is a global building-materials company best known for manufacturing fiber-cement products for residential and commercial construction. Its offerings include exterior siding and cladding, trim, and interior products such as backerboard used in tile installations. The company traces its history to 1888, when James Hardie established a business in Melbourne, Australia. It later developed and expanded its fiber-cement product business, becoming a major supplier of building products in several markets.