Maverick Capital Ltd. Acquires New Shares in James Hardie Industries PLC. $JHX

Maverick Capital Ltd. bought a new stake in shares of James Hardie Industries PLC. (NYSE:JHX) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 35,531 shares of the construction company’s stock, valued at approximately $673,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quantinno Capital Management LP lifted its holdings in shares of James Hardie Industries by 9.8% during the first quarter. Quantinno Capital Management LP now owns 275,257 shares of the construction company’s stock valued at $5,213,000 after purchasing an additional 24,606 shares in the last quarter. Union Square Park Capital Management LLC bought a new stake in James Hardie Industries in the 1st quarter worth about $852,000. Renaissance Technologies LLC increased its holdings in James Hardie Industries by 48.5% in the 1st quarter. Renaissance Technologies LLC now owns 3,839,489 shares of the construction company’s stock worth $72,720,000 after buying an additional 1,254,400 shares in the last quarter. Beaconlight Capital LLC raised its position in James Hardie Industries by 31.9% in the 1st quarter. Beaconlight Capital LLC now owns 153,863 shares of the construction company’s stock worth $2,914,000 after buying an additional 37,223 shares during the last quarter. Finally, Cloverfields Capital Group LP purchased a new position in James Hardie Industries in the 1st quarter worth about $1,512,000. Institutional investors own 7.96% of the company’s stock.

James Hardie Industries Trading Up 0.8%

James Hardie Industries stock opened at $26.87 on Wednesday. James Hardie Industries PLC. has a 52-week low of $16.46 and a 52-week high of $29.83. The company has a market cap of $15.59 billion, a P/E ratio of 122.13 and a beta of 1.77. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.71. The business has a 50-day simple moving average of $24.42 and a two-hundred day simple moving average of $22.79.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on JHX shares. Stephens raised their price target on shares of James Hardie Industries from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays reissued a “positive” rating on shares of James Hardie Industries in a report on Friday. Finally, Zacks Research upgraded shares of James Hardie Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $27.33.

About James Hardie Industries

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.