Capital World Investors Cuts Stake in James Hardie Industries PLC. $JHX

Capital World Investors trimmed its position in James Hardie Industries PLC. (NYSE:JHX) by 30.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,114,408 shares of the construction company’s stock after selling 1,368,709 shares during the quarter. Capital World Investors’ holdings in James Hardie Industries were worth $64,624,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Jones Financial Companies Lllp raised its holdings in shares of James Hardie Industries by 7.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 8,029 shares of the construction company’s stock worth $151,000 after purchasing an additional 525 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of James Hardie Industries by 16.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,684 shares of the construction company’s stock worth $139,000 after purchasing an additional 936 shares during the period. Osaic Holdings Inc. raised its holdings in shares of James Hardie Industries by 67.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,576 shares of the construction company’s stock worth $67,000 after purchasing an additional 1,034 shares during the period. Modus Advisors LLC purchased a new position in shares of James Hardie Industries in the 4th quarter worth about $31,000. Finally, Global Retirement Partners LLC raised its holdings in shares of James Hardie Industries by 3,431.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the construction company’s stock worth $33,000 after purchasing an additional 1,544 shares during the period. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JHX has been the topic of a number of research reports. Zacks Research downgraded James Hardie Industries from a “hold” rating to a “strong sell” rating in a report on Thursday, May 21st. Truist Financial raised their price objective on James Hardie Industries from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. upgraded James Hardie Industries from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 11th. Finally, Barclays cut their price objective 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. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

James Hardie Industries Stock Performance

Shares of NYSE:JHX opened at $23.26 on Wednesday. The company has a market cap of $13.50 billion, a P/E ratio of 105.75, a PEG ratio of 12.21 and a beta of 1.80. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.03 and a current ratio of 1.58. James Hardie Industries PLC. has a one year low of $16.46 and a one year high of $29.83. The business’s 50-day simple moving average is $20.96 and its 200 day simple moving average is $21.50.

James Hardie Industries (NYSE:JHX) last announced its earnings results on Wednesday, May 20th. The construction company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.29 by $0.01. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. James Hardie Industries had a return on equity of 11.13% and a net margin of 2.15%.The company’s revenue was up 44.5% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. On average, sell-side analysts forecast that James Hardie Industries PLC. will post 1.24 earnings per share for the current fiscal 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.