Stephens Investment Management Group LLC Acquires Shares of 2,006,873 James Hardie Industries PLC. $JHX

Stephens Investment Management Group LLC bought a new position in shares of James Hardie Industries PLC. (NYSE:JHX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,006,873 shares of the construction company’s stock, valued at approximately $38,552,000. Stephens Investment Management Group LLC owned approximately 0.47% of James Hardie Industries as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of JHX. Royal Bank of Canada grew its position in shares of James Hardie Industries by 17.0% during the 1st quarter. Royal Bank of Canada now owns 50,801 shares of the construction company’s stock worth $1,197,000 after purchasing an additional 7,396 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in James Hardie Industries by 160.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock valued at $63,557,000 after acquiring an additional 1,662,743 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of James Hardie Industries by 222.4% during the 1st quarter. Jane Street Group LLC now owns 279,009 shares of the construction company’s stock worth $6,573,000 after purchasing an additional 192,478 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of James Hardie Industries by 10.3% during the 1st quarter. Rhumbline Advisers now owns 10,694 shares of the construction company’s stock worth $252,000 after purchasing an additional 999 shares in the last quarter. Finally, Ballentine Partners LLC bought a new position in shares of James Hardie Industries in the second quarter worth $281,000. 7.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Vertical Research upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Wednesday, November 19th. Robert W. Baird reduced their price target on shares of James Hardie Industries from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Truist Financial lifted their price objective on shares of James Hardie Industries from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Wolfe Research assumed coverage on James Hardie Industries in a research note on Tuesday, September 30th. They set an “outperform” rating and a $25.00 target price for the company. Finally, CLSA raised James Hardie Industries to a “hold” rating in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, James Hardie Industries has an average rating of “Moderate Buy” and a consensus target price of $25.93.

James Hardie Industries Stock Performance

NYSE JHX opened at $23.67 on Friday. The firm’s fifty day moving average price is $20.07 and its two-hundred day moving average price is $22.04. The stock has a market cap of $10.17 billion, a PE ratio of 49.31, a PEG ratio of 8.95 and a beta of 1.80. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.23 and a current ratio of 1.79. James Hardie Industries PLC. has a fifty-two week low of $16.46 and a fifty-two week high of $34.96.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings data on Monday, November 17th. The construction company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. James Hardie Industries had a return on equity of 18.40% and a net margin of 4.67%.The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the business posted $0.36 EPS. James Hardie Industries’s revenue for the quarter was up 34.5% on a year-over-year basis. On average, equities analysts expect that James Hardie Industries PLC. will post 1.39 EPS for the current fiscal year.

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.