ABC Arbitrage SA Purchases New Shares in James Hardie Industries plc (NYSE:JHX)

ABC Arbitrage SA purchased a new position in James Hardie Industries plc (NYSE:JHX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 47,298 shares of the construction company's stock, valued at approximately $1,457,000.

Other large investors have also made changes to their positions in the company. Natixis Advisors LLC lifted its position in James Hardie Industries by 317.2% during the third quarter. Natixis Advisors LLC now owns 172,460 shares of the construction company's stock worth $6,924,000 after buying an additional 131,120 shares during the period. FMR LLC boosted its position in shares of James Hardie Industries by 22.5% in the third quarter. FMR LLC now owns 160,273 shares of the construction company's stock worth $6,435,000 after acquiring an additional 29,401 shares during the last quarter. Creative Planning grew its holdings in James Hardie Industries by 16.3% in the third quarter. Creative Planning now owns 77,168 shares of the construction company's stock valued at $3,098,000 after purchasing an additional 10,803 shares during the period. Mediolanum International Funds Ltd acquired a new position in James Hardie Industries during the third quarter worth approximately $2,369,000. Finally, Quantinno Capital Management LP raised its stake in James Hardie Industries by 49.0% during the third quarter. Quantinno Capital Management LP now owns 58,576 shares of the construction company's stock worth $2,352,000 after purchasing an additional 19,268 shares during the period. Institutional investors and hedge funds own 7.96% of the company's stock.

James Hardie Industries Stock Performance

NYSE JHX traded up $0.78 during trading hours on Wednesday, hitting $32.61. The company had a trading volume of 77,283 shares, compared to its average volume of 95,884. The business has a fifty day simple moving average of $32.65 and a 200-day simple moving average of $34.48. James Hardie Industries plc has a fifty-two week low of $29.88 and a fifty-two week high of $43.57. The firm has a market cap of $14.02 billion, a P/E ratio of 32.29, a price-to-earnings-growth ratio of 4.67 and a beta of 1.81. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.57.

James Hardie Industries (NYSE:JHX - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. The firm had revenue of $953.30 million during the quarter, compared to analyst estimates of $967.63 million. James Hardie Industries had a return on equity of 35.93% and a net margin of 11.16%. Equities analysts predict that James Hardie Industries plc will post 1.4 EPS for the current year.

Wall Street Analyst Weigh In

JHX has been the subject of a number of research analyst reports. StockNews.com downgraded James Hardie Industries from a "buy" rating to a "hold" rating in a report on Wednesday, December 25th. Truist Financial started coverage on James Hardie Industries in a report on Tuesday, December 10th. They set a "buy" rating and a $45.00 target price for the company. Jefferies Financial Group restated a "buy" rating on shares of James Hardie Industries in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. upgraded shares of James Hardie Industries from a "neutral" rating to an "overweight" rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.00.

James Hardie Industries 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.