498,525 Shares in James Hardie Industries PLC. $JHX Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS acquired a new stake in shares of James Hardie Industries PLC. (NYSE:JHX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 498,525 shares of the construction company’s stock, valued at approximately $9,577,000.

A number of other large investors have also recently modified their holdings of the business. Sage Mountain Advisors LLC acquired a new position in shares of James Hardie Industries during the 3rd quarter worth $231,000. Wealth Enhancement Advisory Services LLC bought a new position in James Hardie Industries in the third quarter valued at about $2,184,000. Amalgamated Bank acquired a new position in James Hardie Industries during the third quarter worth about $199,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of James Hardie Industries by 6.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,600,870 shares of the construction company’s stock worth $261,273,000 after acquiring an additional 882,795 shares during the last quarter. Finally, Evergreen Capital Management LLC acquired a new stake in shares of James Hardie Industries in the 3rd quarter valued at approximately $222,000. Institutional investors and hedge funds own 7.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Zacks Research raised shares of James Hardie Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. Barclays began coverage on James Hardie Industries in a research note on Monday, December 8th. They issued an “equal weight” rating and a $21.00 price target for the company. Vertical Research upgraded James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Wednesday, November 19th. CLSA upgraded James Hardie Industries to a “hold” rating in a research report on Wednesday, October 8th. Finally, Oppenheimer boosted their price target on James Hardie Industries from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.93.

James Hardie Industries Stock Down 0.6%

Shares of JHX opened at $24.37 on Tuesday. The stock’s 50-day moving average price is $20.93 and its two-hundred day moving average price is $21.77. James Hardie Industries PLC. has a 12 month low of $16.46 and a 12 month high of $34.75. The company has a market capitalization of $10.48 billion, a PE ratio of 50.77, a PEG ratio of 7.88 and a beta of 1.80. The company has a current ratio of 1.79, a quick ratio of 1.23 and a debt-to-equity ratio of 0.80.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings data on Monday, November 17th. The construction company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. James Hardie Industries had a return on equity of 18.40% and a net margin of 4.67%.The firm’s revenue was up 34.5% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. On average, analysts anticipate that James Hardie Industries PLC. will post 1.39 EPS for the current year.

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.