20,834 Shares in James Hardie Industries PLC. $JHX Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC purchased a new stake in shares of James Hardie Industries PLC. (NYSE:JHX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 20,834 shares of the construction company’s stock, valued at approximately $545,000.

A number of other large investors also recently bought and sold shares of the stock. Wellington Management Group LLP increased its holdings in shares of James Hardie Industries by 259.7% during the 3rd quarter. Wellington Management Group LLP now owns 50,649,731 shares of the construction company’s stock valued at $972,981,000 after purchasing an additional 36,567,726 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of James Hardie Industries in the 4th quarter valued at $77,530,000. RDST Capital LLC purchased a new stake in James Hardie Industries during the fourth quarter worth $55,893,000. Renaissance Technologies LLC purchased a new stake in James Hardie Industries during the fourth quarter worth $53,641,000. Finally, Alyeska Investment Group L.P. grew its position in James Hardie Industries by 100.9% during the third quarter. Alyeska Investment Group L.P. now owns 4,531,761 shares of the construction company’s stock valued at $87,055,000 after buying an additional 2,275,762 shares during the period. 7.96% of the stock is owned by institutional investors and hedge funds.

James Hardie Industries Stock Up 0.6%

JHX opened at $30.38 on Wednesday. The company has a market cap of $17.63 billion, a PE ratio of 121.52, a price-to-earnings-growth ratio of 2.60 and a beta of 1.77. James Hardie Industries PLC. has a twelve month low of $16.46 and a twelve month high of $31.35. The company has a 50-day moving average price of $27.05 and a 200 day moving average price of $23.60. The company has a quick ratio of 1.03, a current ratio of 1.59 and a debt-to-equity ratio of 0.66.

James Hardie Industries (NYSE:JHX) last posted its quarterly earnings data on Thursday, August 6th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.04. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.42 billion. James Hardie Industries had a return on equity of 10.56% and a net margin of 2.69%.James Hardie Industries’s revenue was up 63.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.29 EPS. Sell-side analysts expect that James Hardie Industries PLC. will post 1.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on JHX. Robert W. Baird set a $34.00 price objective on shares of James Hardie Industries in a report on Friday, August 7th. Stephens increased their target price on shares of James Hardie Industries from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Raymond James Financial set a $35.00 target price on James Hardie Industries in a research report on Monday, August 10th. Truist Financial lifted their price target on James Hardie Industries from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Zacks Research upgraded James Hardie Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

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.