ING Groep NV Buys Shares of 252,700 James Hardie Industries PLC. $JHX

ING Groep NV bought a new stake in James Hardie Industries PLC. (NYSE:JHX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 252,700 shares of the construction company’s stock, valued at approximately $5,244,000. ING Groep NV owned approximately 0.06% of James Hardie Industries at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Wellington Management Group LLP increased its stake in shares of James Hardie Industries by 259.7% during the 3rd quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company’s stock worth $972,981,000 after purchasing an additional 36,567,726 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in shares of James Hardie Industries by 100.9% during the 3rd quarter. Alyeska Investment Group L.P. now owns 4,531,761 shares of the construction company’s stock worth $87,055,000 after purchasing an additional 2,275,762 shares in the last quarter. Capital World Investors purchased a new position in shares of James Hardie Industries during the 3rd quarter worth approximately $86,121,000. Goldman Sachs Group Inc. increased its stake in shares of James Hardie Industries by 160.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock worth $63,557,000 after purchasing an additional 1,662,743 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of James Hardie Industries by 74.9% during the 2nd quarter. Bank of America Corp DE now owns 2,204,888 shares of the construction company’s stock worth $59,289,000 after purchasing an additional 943,929 shares in the last quarter. 7.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JHX has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 11th. Barclays dropped their price objective on shares of James Hardie Industries from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Thursday, May 21st. Zacks Research cut shares of James Hardie Industries from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 21st. Finally, Truist Financial raised their price objective on shares of James Hardie Industries from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.00.

James Hardie Industries Stock Down 0.8%

Shares of JHX opened at $22.47 on Tuesday. The firm has a market cap of $13.04 billion, a PE ratio of 102.16, a price-to-earnings-growth ratio of 12.30 and a beta of 1.80. The company’s fifty day moving average is $20.86 and its two-hundred day moving average is $21.47. James Hardie Industries PLC. has a fifty-two week low of $16.46 and a fifty-two week high of $29.83. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.71.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings results on Wednesday, May 20th. The construction company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. James Hardie Industries had a net margin of 2.15% and a return on equity of 11.13%. James Hardie Industries’s revenue for the quarter was up 44.5% on a year-over-year basis. During the same quarter last year, the business earned $0.36 EPS. Analysts forecast that James Hardie Industries PLC. will post 1.24 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.