James Hardie Industries (NYSE:JHX) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

James Hardie Industries (NYSE:JHX) posted its quarterly earnings data on Tuesday. The construction company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01, Zacks reports. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. James Hardie Industries had a return on equity of 13.52% and a net margin of 2.70%.

James Hardie Industries Stock Down 5.6%

NYSE JHX traded down $1.11 on Tuesday, reaching $18.71. 11,055,163 shares of the stock traded hands, compared to its average volume of 6,723,581. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.54. The company has a fifty day moving average price of $20.25 and a 200-day moving average price of $21.09. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 69.29, a PEG ratio of 4.50 and a beta of 1.79. James Hardie Industries has a 12 month low of $16.46 and a 12 month high of $29.83.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Truist Financial raised their price objective on James Hardie Industries from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Zacks Research lowered James Hardie Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. raised James Hardie Industries from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 11th. Finally, Barclays decreased their price target on James Hardie Industries from $26.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $26.13.

Institutional Investors Weigh In On James Hardie Industries

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

James Hardie Industries Company Profile

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.