Clearline Capital LP lifted its position in shares of James Hardie Industries PLC. (NYSE:JHX – Free Report) by 28.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 867,262 shares of the construction company’s stock after buying an additional 190,860 shares during the quarter. James Hardie Industries accounts for approximately 0.9% of Clearline Capital LP’s holdings, making the stock its 22nd largest position. Clearline Capital LP’s holdings in James Hardie Industries were worth $17,996,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of JHX. Wellington Management Group LLP grew its holdings in shares of James Hardie Industries by 259.7% during the third quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company’s stock worth $972,981,000 after buying an additional 36,567,726 shares in the last quarter. Capital World Investors purchased a new stake in shares of James Hardie Industries during the third quarter worth about $86,121,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of James Hardie Industries during the fourth quarter worth about $77,530,000. Renaissance Technologies LLC purchased a new stake in James Hardie Industries in the fourth quarter valued at approximately $53,641,000. Finally, Alyeska Investment Group L.P. grew its holdings in James Hardie Industries by 100.9% in the third quarter. Alyeska Investment Group L.P. now owns 4,531,761 shares of the construction company’s stock valued at $87,055,000 after purchasing an additional 2,275,762 shares during the period. 7.96% of the stock is currently owned by hedge funds and other institutional investors.
James Hardie Industries Trading Down 4.1%
NYSE JHX opened at $24.58 on Thursday. The company’s fifty day simple moving average is $21.63 and its 200-day simple moving average is $21.73. James Hardie Industries PLC. has a 52 week low of $16.46 and a 52 week high of $29.83. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.71. The stock has a market cap of $14.26 billion, a P/E ratio of 111.71, a PEG ratio of 13.92 and a beta of 1.80.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. Barclays lowered their target price on shares of James Hardie Industries from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. Zacks Research downgraded shares of James Hardie Industries from a “hold” rating to a “strong sell” rating in a report on Thursday, May 21st. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, James Hardie Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.
Get Our Latest Stock Report on JHX
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.
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