James Hardie Industries plc (NYSE:JHX) Stake Raised by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. increased its holdings in James Hardie Industries plc (NYSE:JHX) by 7.1% during the fourth quarter, Holdings Channel reports. The firm owned 23,397 shares of the construction company’s stock after purchasing an additional 1,546 shares during the period. First Trust Direct Indexing L.P.’s holdings in James Hardie Industries were worth $905,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in JHX. Jennison Associates LLC acquired a new stake in shares of James Hardie Industries during the fourth quarter valued at approximately $4,532,000. Bleakley Financial Group LLC raised its stake in James Hardie Industries by 5.4% during the 4th quarter. Bleakley Financial Group LLC now owns 12,124 shares of the construction company’s stock valued at $469,000 after purchasing an additional 623 shares during the period. New York State Common Retirement Fund increased its holdings in James Hardie Industries by 357.7% in the third quarter. New York State Common Retirement Fund now owns 30,101 shares of the construction company’s stock worth $790,000 after buying an additional 23,524 shares during the last quarter. Ballentine Partners LLC acquired a new stake in James Hardie Industries in the fourth quarter valued at approximately $305,000. Finally, Acadian Asset Management LLC grew its position in James Hardie Industries by 754.0% in the third quarter. Acadian Asset Management LLC now owns 116,574 shares of the construction company’s stock worth $3,055,000 after acquiring an additional 102,923 shares in the last quarter. 7.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JHX shares. StockNews.com lowered shares of James Hardie Industries from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 16th. Bank of America cut James Hardie Industries from a “neutral” rating to an “underperform” rating and set a $35.50 price objective for the company. in a research report on Tuesday, January 23rd.

James Hardie Industries Trading Up 1.9 %

Shares of James Hardie Industries stock opened at $35.76 on Friday. James Hardie Industries plc has a 1 year low of $22.46 and a 1 year high of $41.98. The company’s fifty day simple moving average is $38.29 and its 200-day simple moving average is $35.36. The company has a market cap of $15.58 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 1.73 and a beta of 1.72. The company has a current ratio of 1.89, a quick ratio of 1.46 and a debt-to-equity ratio of 0.60.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings results on Monday, February 12th. The construction company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $978.30 million for the quarter, compared to analyst estimates of $960.23 million. James Hardie Industries had a net margin of 13.93% and a return on equity of 38.75%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period last year, the business posted $0.29 EPS. As a group, sell-side analysts expect that James Hardie Industries plc will post 1.6 EPS for the current year.

James Hardie Industries Company Profile

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.