Concentric Capital Strategies LP Makes New Investment in James Hardie Industries PLC. $JHX

Concentric Capital Strategies LP acquired a new position in James Hardie Industries PLC. (NYSE:JHX) in the 1st quarter, HoldingsChannel reports. The firm acquired 145,133 shares of the construction company’s stock, valued at approximately $3,419,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aquatic Capital Management LLC purchased a new stake in James Hardie Industries in the 4th quarter worth approximately $55,000. SVB Wealth LLC purchased a new position in shares of James Hardie Industries in the 1st quarter valued at approximately $57,000. Smartleaf Asset Management LLC lifted its stake in shares of James Hardie Industries by 12.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,683 shares of the construction company’s stock valued at $89,000 after purchasing an additional 397 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of James Hardie Industries by 49.0% in the 1st quarter. Russell Investments Group Ltd. now owns 7,776 shares of the construction company’s stock valued at $183,000 after purchasing an additional 2,556 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of James Hardie Industries by 854.5% in the 1st quarter. Versant Capital Management Inc now owns 7,875 shares of the construction company’s stock valued at $186,000 after purchasing an additional 7,050 shares during the period. Hedge funds and other institutional investors own 7.96% of the company’s stock.

James Hardie Industries Stock Down 1.2%

Shares of NYSE:JHX opened at $19.40 on Thursday. The stock has a fifty day simple moving average of $25.87 and a two-hundred day simple moving average of $25.92. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 2.37 and a beta of 1.74. James Hardie Industries PLC. has a 12-month low of $17.91 and a 12-month high of $43.57. The company has a current ratio of 3.76, a quick ratio of 3.31 and a debt-to-equity ratio of 1.12.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Tuesday, August 19th. The construction company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The company had revenue of $899.90 million for the quarter, compared to analysts’ expectations of $982.60 million. James Hardie Industries had a net margin of 8.75% and a return on equity of 27.95%. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, research analysts anticipate that James Hardie Industries PLC. will post 1.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wall Street Zen cut James Hardie Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Macquarie upgraded James Hardie Industries from a “neutral” rating to an “outperform” rating in a research note on Monday, July 28th. UBS Group restated a “neutral” rating on shares of James Hardie Industries in a research note on Thursday, August 21st. Truist Financial lowered their target price on James Hardie Industries from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Finally, Robert W. Baird lowered their target price on James Hardie Industries from $32.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, James Hardie Industries currently has an average rating of “Buy” and an average target price of $33.27.

James Hardie Industries Company Profile

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.