Invenomic Capital Management LP Acquires 176,776 Shares of James Hardie Industries PLC. $JHX

Invenomic Capital Management LP increased its holdings in shares of James Hardie Industries PLC. (NYSE:JHX) by 72.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420,705 shares of the construction company’s stock after purchasing an additional 176,776 shares during the period. Invenomic Capital Management LP’s holdings in James Hardie Industries were worth $8,730,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in JHX. Royal Bank of Canada raised its holdings in shares of James Hardie Industries by 17.0% during the first 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. raised its holdings in shares of James Hardie Industries by 160.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock worth $63,557,000 after acquiring an additional 1,662,743 shares during the period. Jane Street Group LLC raised its holdings in shares of 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 acquiring an additional 192,478 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of 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 acquiring an additional 3,827 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of 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 acquiring an additional 1,461 shares during the period. 7.96% of the stock is currently owned by institutional investors and hedge funds.

James Hardie Industries Trading Down 4.1%

NYSE:JHX opened at $24.58 on Thursday. James Hardie Industries PLC. has a twelve month low of $16.46 and a twelve month 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. The business has a 50 day moving average price of $21.63 and a two-hundred day moving average price of $21.73. The company has a market cap of $14.26 billion, a P/E ratio of 111.71, a price-to-earnings-growth ratio of 13.92 and a beta of 1.80.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings results on Wednesday, May 20th. The construction company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. James Hardie Industries had a return on equity of 11.13% and a net margin of 2.15%.The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the firm posted $0.36 EPS. The business’s revenue was up 44.5% on a year-over-year basis. As a group, analysts expect that James Hardie Industries PLC. will post 1.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on JHX. Zacks Research lowered shares of James Hardie Industries from a “hold” rating to a “strong sell” rating in a report on Thursday, May 21st. Barclays dropped their price objective on shares of James Hardie Industries from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, May 21st. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, James Hardie Industries has an average rating of “Moderate Buy” and an average price target of $26.00.

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.