Invenomic Capital Management LP increased its position in James Hardie Industries PLC. (NYSE:JHX – Free Report) by 72.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 420,705 shares of the construction company’s stock after purchasing an additional 176,776 shares during the quarter. Invenomic Capital Management LP owned approximately 0.10% of James Hardie Industries worth $8,730,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in James Hardie Industries by 259.7% in the third 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 during the period. JPMorgan Chase & Co. increased its position in James Hardie Industries by 22.2% in the fourth quarter. JPMorgan Chase & Co. now owns 9,690,174 shares of the construction company’s stock worth $201,071,000 after purchasing an additional 1,758,111 shares during the period. Alyeska Investment Group L.P. increased its position in James Hardie Industries by 14.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 5,166,115 shares of the construction company’s stock worth $107,197,000 after purchasing an additional 634,354 shares during the period. Hill City Capital LP boosted its holdings in James Hardie Industries by 21.4% during the fourth quarter. Hill City Capital LP now owns 5,120,200 shares of the construction company’s stock worth $106,244,000 after buying an additional 901,700 shares during the last quarter. Finally, Capital World Investors bought a new position in James Hardie Industries during the third quarter worth about $86,121,000. 7.96% of the stock is currently owned by institutional investors and hedge funds.
James Hardie Industries Price Performance
JHX opened at $24.58 on Thursday. 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 PLC. has a 12 month low of $16.46 and a 12 month high of $29.83. The company has a fifty day simple moving average of $21.63 and a 200 day simple moving average of $21.73. The stock has a market cap of $14.26 billion, a P/E ratio of 111.71, a P/E/G ratio of 13.92 and a beta of 1.80.
Analysts Set New Price Targets
A number of brokerages have issued reports on JHX. Barclays reduced their target price on 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. Zacks Research cut James Hardie Industries from a “hold” rating to a “strong sell” rating in a report on Thursday, May 21st. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.00.
Read Our Latest Analysis on JHX
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.
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