Fairvoy Private Wealth LLC Makes New $1.10 Million Investment in James Hardie Industries PLC. $JHX

Fairvoy Private Wealth LLC acquired a new stake in James Hardie Industries PLC. (NYSE:JHX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,338 shares of the construction company’s stock, valued at approximately $1,097,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Breakwater Capital Group increased its position in James Hardie Industries by 45.1% during the 3rd quarter. Breakwater Capital Group now owns 15,135 shares of the construction company’s stock worth $383,000 after purchasing an additional 4,705 shares in the last quarter. GAMMA Investing LLC increased its stake in James Hardie Industries by 21.9% during the third quarter. GAMMA Investing LLC now owns 4,384 shares of the construction company’s stock worth $111,000 after acquiring an additional 787 shares during the last quarter. Green Alpha Advisors LLC increased its stake in James Hardie Industries by 61.9% during the third quarter. Green Alpha Advisors LLC now owns 33,763 shares of the construction company’s stock worth $855,000 after acquiring an additional 12,912 shares during the last quarter. SkyView Investment Advisors LLC acquired a new stake in James Hardie Industries during the second quarter worth about $196,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of James Hardie Industries in the 2nd quarter worth about $248,000. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

James Hardie Industries Stock Down 0.8%

James Hardie Industries stock traded down $0.21 during trading on Monday, reaching $25.61. 6,428,530 shares of the company’s stock were exchanged, compared to its average volume of 7,760,215. The company’s 50-day moving average is $27.83 and its two-hundred day moving average is $24.86. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.59. James Hardie Industries PLC. has a 52-week low of $16.46 and a 52-week high of $31.43. The firm has a market cap of $14.86 billion, a price-to-earnings ratio of 102.42, a PEG ratio of 2.48 and a beta of 1.79.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings results on Thursday, August 6th. The construction company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. James Hardie Industries had a return on equity of 10.56% and a net margin of 2.69%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm earned $0.29 EPS. The firm’s quarterly revenue was up 63.9% compared to the same quarter last year. On average, analysts predict that James Hardie Industries PLC. will post 1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays raised James Hardie Industries from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $26.00 to $35.00 in a research note on Monday, August 10th. Melius Research initiated coverage on shares of James Hardie Industries in a research report on Tuesday, October 6th. They set a “buy” rating and a $36.00 target price for the company. Raymond James Financial set a $36.00 target price on shares of James Hardie Industries in a research report on Tuesday, October 6th. Oppenheimer restated an “outperform” rating and issued a $36.00 price target on shares of James Hardie Industries in a report on Wednesday, September 16th. Finally, Zacks Research cut shares of James Hardie Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 6th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, James Hardie Industries currently has an average rating of “Moderate Buy” and an average price target of $33.89.

About James Hardie Industries

James Hardie Industries plc is a global building materials manufacturer specializing in fiber cement products. Its portfolio includes exterior siding, trim, soffits, backer board and related solutions used in residential and commercial construction, remodeling and repair projects.

The company markets products under brands including James Hardie, HardiePlank, HardiePanel and HardieBacker. Fiber cement is designed to provide durability and resistance to moisture, fire, pests and changing weather conditions, making it an alternative to materials such as wood, vinyl and traditional cement products.

Founded in Australia in 1888, James Hardie has expanded into an international building products business serving customers across North America, Australia and New Zealand, Europe and other selected markets.