Fort Baker Capital Management LP Takes Position in James Hardie Industries PLC. $JHX

Fort Baker Capital Management LP bought a new position in shares of James Hardie Industries PLC. (NYSE:JHX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 323,046 shares of the construction company’s stock, valued at approximately $8,687,000. James Hardie Industries makes up approximately 1.5% of Fort Baker Capital Management LP’s portfolio, making the stock its 22nd largest position.

A number of other hedge funds have also recently bought and sold shares of JHX. Massachusetts Financial Services Co. MA increased its position in shares of James Hardie Industries by 241.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,718,075 shares of the construction company’s stock worth $341,989,000 after purchasing an additional 8,988,938 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of James Hardie Industries by 1,883.6% in the second quarter. Balyasny Asset Management L.P. now owns 3,874,198 shares of the construction company’s stock valued at $104,177,000 after buying an additional 3,678,889 shares in the last quarter. Wellington Management Group LLP acquired a new position in James Hardie Industries during the first quarter worth $90,526,000. Eminence Capital LP bought a new stake in James Hardie Industries during the second quarter worth $83,249,000. Finally, Goldman Sachs Group Inc. grew its position in shares of James Hardie Industries by 160.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock valued at $63,557,000 after acquiring an additional 1,662,743 shares during the period. 7.96% of the stock is currently owned by institutional investors.

James Hardie Industries Price Performance

Shares of NYSE JHX opened at $20.60 on Friday. The firm has a market cap of $8.85 billion, a P/E ratio of 42.91, a price-to-earnings-growth ratio of 7.63 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 PLC. has a 1-year low of $16.46 and a 1-year high of $34.96. The business’s 50 day moving average is $19.90 and its 200-day moving average is $22.70.

James Hardie Industries (NYSE:JHX) last released its quarterly earnings results on Monday, November 17th. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. The business 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 quarterly revenue was up 34.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 EPS. Equities research analysts predict that James Hardie Industries PLC. will post 1.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on JHX shares. Vertical Research raised shares of James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, November 19th. Oppenheimer upped their price objective on James Hardie Industries from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Truist Financial lifted their target price on James Hardie Industries from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Wolfe Research initiated coverage on James Hardie Industries in a report on Tuesday, September 30th. They set an “outperform” rating and a $25.00 target price on the stock. Finally, Barclays assumed coverage on James Hardie Industries in a report on Monday, December 8th. They set an “equal weight” rating and a $21.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, James Hardie Industries presently has a consensus rating of “Moderate Buy” and an average target price of $25.93.

James Hardie Industries Company Profile

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.