Kornitzer Capital Management Inc. KS Sells 401,325 Shares of James Hardie Industries PLC. $JHX

Kornitzer Capital Management Inc. KS lessened its holdings in shares of James Hardie Industries PLC. (NYSE:JHX) by 80.5% during the 1st quarter, HoldingsChannel reports. The fund owned 97,200 shares of the construction company’s stock after selling 401,325 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in James Hardie Industries were worth $1,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in James Hardie Industries by 259.7% in the 3rd 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. Jacobs Levy Equity Management Inc. bought a new stake in James Hardie Industries during the fourth quarter valued at about $77,530,000. RDST Capital LLC purchased a new stake in James Hardie Industries in the fourth quarter worth about $55,893,000. Renaissance Technologies LLC purchased a new stake in James Hardie Industries in the fourth quarter worth about $53,641,000. Finally, Alyeska Investment Group L.P. raised its stake in shares of 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 worth $87,055,000 after buying an additional 2,275,762 shares during the period. Institutional investors own 7.96% of the company’s stock.

James Hardie Industries Trading Up 0.1%

James Hardie Industries stock opened at $24.81 on Monday. The stock has a market cap of $14.40 billion, a P/E ratio of 112.79 and a beta of 1.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.58 and a quick ratio of 1.03. James Hardie Industries PLC. has a 1 year low of $16.46 and a 1 year high of $29.83. The firm’s 50 day moving average price is $23.07 and its 200-day moving average price is $22.37.

James Hardie Industries (NYSE:JHX) last issued its earnings results on Wednesday, May 20th. The construction company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. James Hardie Industries had a net margin of 2.15% and a return on equity of 11.13%. James Hardie Industries’s revenue for the quarter was up 44.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. On average, equities analysts predict that James Hardie Industries PLC. will post 1.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Stephens began coverage on James Hardie Industries in a research report on Thursday, June 25th. They set an “overweight” rating and a $31.00 price objective on the stock. Barclays lowered their price target on shares of 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. Finally, Zacks Research cut shares of James Hardie Industries from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.56.

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.