ABC Arbitrage SA Makes New Investment in James Hardie Industries plc (NYSE:JHX)

ABC Arbitrage SA purchased a new stake in shares of James Hardie Industries plc (NYSE:JHX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 47,298 shares of the construction company’s stock, valued at approximately $1,457,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Natixis Advisors LLC raised its stake in shares of James Hardie Industries by 317.2% during the third quarter. Natixis Advisors LLC now owns 172,460 shares of the construction company’s stock valued at $6,924,000 after acquiring an additional 131,120 shares in the last quarter. FMR LLC raised its stake in shares of James Hardie Industries by 22.5% during the third quarter. FMR LLC now owns 160,273 shares of the construction company’s stock valued at $6,435,000 after acquiring an additional 29,401 shares in the last quarter. Creative Planning raised its stake in shares of James Hardie Industries by 16.3% during the third quarter. Creative Planning now owns 77,168 shares of the construction company’s stock valued at $3,098,000 after acquiring an additional 10,803 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of James Hardie Industries during the third quarter valued at approximately $2,369,000. Finally, Quantinno Capital Management LP raised its stake in shares of James Hardie Industries by 49.0% during the third quarter. Quantinno Capital Management LP now owns 58,576 shares of the construction company’s stock valued at $2,352,000 after acquiring an additional 19,268 shares in the last quarter. Institutional investors own 7.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on JHX. StockNews.com downgraded shares of James Hardie Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, December 25th. Truist Financial began coverage on shares of James Hardie Industries in a research note on Tuesday, December 10th. They issued a “buy” rating and a $45.00 price objective for the company. JPMorgan Chase & Co. raised shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of James Hardie Industries in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.00.

James Hardie Industries Price Performance

NYSE JHX opened at $32.44 on Friday. The firm’s fifty day simple moving average is $32.77 and its two-hundred day simple moving average is $34.52. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.57. James Hardie Industries plc has a 12-month low of $29.88 and a 12-month high of $43.57. The firm has a market capitalization of $13.94 billion, a P/E ratio of 32.11, a P/E/G ratio of 4.92 and a beta of 1.81.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Tuesday, November 12th. The construction company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $960.80 million for the quarter, compared to analyst estimates of $973.49 million. James Hardie Industries had a net margin of 11.16% and a return on equity of 35.93%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. Analysts forecast that James Hardie Industries plc will post 1.4 EPS for the current fiscal year.

About James Hardie Industries

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.