PEAK6 LLC Makes New Investment in James Hardie Industries PLC. $JHX

PEAK6 LLC bought a new stake in James Hardie Industries PLC. (NYSE:JHX) in the 2nd quarter, HoldingsChannel reports. The firm bought 90,116 shares of the construction company’s stock, valued at approximately $2,359,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Royal Bank of Canada raised its holdings 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 acquiring an additional 7,396 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of James Hardie Industries by 160.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock valued at $63,557,000 after purchasing an additional 1,662,743 shares during the period. Jane Street Group LLC increased its position in James Hardie Industries by 222.4% during the first 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 during the last quarter. Russell Investments Group Ltd. increased its position in James Hardie Industries by 49.2% during the second quarter. Russell Investments Group Ltd. now owns 11,603 shares of the construction company’s stock worth $312,000 after purchasing an additional 3,827 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in James Hardie Industries by 11,238.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock worth $40,000 after purchasing an additional 1,461 shares during the period. 7.96% of the stock is owned by institutional investors and hedge funds.

James Hardie Industries Trading Down 0.2%

Shares of JHX stock opened at $30.38 on Monday. James Hardie Industries PLC. has a 1-year low of $16.46 and a 1-year high of $31.35. The firm has a market cap of $17.63 billion, a PE ratio of 121.52, a price-to-earnings-growth ratio of 1.91 and a beta of 1.77. The company has a 50-day moving average of $26.85 and a two-hundred day moving average of $23.51. 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 released its quarterly earnings results 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. James Hardie Industries had a net margin of 2.69% and a return on equity of 10.56%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm earned $0.29 EPS. The business’s revenue was up 63.9% on a year-over-year basis. On average, analysts predict that James Hardie Industries PLC. will post 1.43 EPS for the current year.

Analyst Upgrades and Downgrades

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

About James Hardie Industries

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.