Raymond James Financial Inc. Acquires New Position in James Hardie Industries plc (NYSE:JHX)

Raymond James Financial Inc. acquired a new stake in James Hardie Industries plc (NYSE:JHX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 35,705 shares of the construction company's stock, valued at approximately $1,100,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JHX. Versant Capital Management Inc acquired a new stake in shares of James Hardie Industries in the 4th quarter valued at approximately $25,000. R Squared Ltd purchased a new stake in shares of James Hardie Industries during the 4th quarter worth $27,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of James Hardie Industries during the 3rd quarter worth $71,000. Smartleaf Asset Management LLC grew its stake in shares of James Hardie Industries by 262.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,286 shares of the construction company's stock worth $101,000 after purchasing an additional 2,380 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of James Hardie Industries by 33.3% in the 4th quarter. Blue Trust Inc. now owns 4,323 shares of the construction company's stock valued at $133,000 after purchasing an additional 1,081 shares in the last quarter. Institutional investors and hedge funds own 7.96% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. StockNews.com raised shares of James Hardie Industries from a "hold" rating to a "buy" rating in a report on Friday, March 21st. Morgan Stanley raised James Hardie Industries from an "equal weight" rating to an "overweight" rating in a research note on Monday, March 24th. Truist Financial set a $45.00 price objective on James Hardie Industries in a research note on Monday, March 24th. Jefferies Financial Group reaffirmed a "buy" rating on shares of James Hardie Industries in a report on Thursday, January 30th. Finally, Raymond James set a $55.00 target price on James Hardie Industries in a report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $42.45.

James Hardie Industries Price Performance

Shares of JHX traded down $0.23 during mid-day trading on Tuesday, reaching $20.27. 8,270,917 shares of the company's stock were exchanged, compared to its average volume of 338,946. The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 0.52. James Hardie Industries plc has a 52-week low of $19.78 and a 52-week high of $43.57. The company has a market cap of $8.71 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 6.16 and a beta of 1.80. The company has a 50-day simple moving average of $29.67 and a two-hundred day simple moving average of $32.74.

James Hardie Industries (NYSE:JHX - Get Free Report) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. James Hardie Industries had a return on equity of 33.65% and a net margin of 11.15%. The firm had revenue of $953.30 million for the quarter, compared to analysts' expectations of $967.63 million. On average, sell-side analysts predict that James Hardie Industries plc will post 1.39 EPS for the current fiscal year.

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.