Maverick Capital Ltd. Invests $673,000 in James Hardie Industries PLC. $JHX

Maverick Capital Ltd. bought a new stake in shares of James Hardie Industries PLC. (NYSE:JHX) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 35,531 shares of the construction company’s stock, valued at approximately $673,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Gilliland Jeter Wealth Management LLC bought a new position in shares of James Hardie Industries in the 4th quarter worth approximately $1,038,000. Tudor Investment Corp ET AL lifted its stake in shares of James Hardie Industries by 2,088.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 350,760 shares of the construction company’s stock valued at $6,738,000 after purchasing an additional 334,734 shares during the period. TimesSquare Capital Management LLC boosted its position in shares of James Hardie Industries by 25.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 2,003,166 shares of the construction company’s stock valued at $41,566,000 after purchasing an additional 401,435 shares in the last quarter. ING Groep NV bought a new stake in shares of James Hardie Industries during the fourth quarter valued at approximately $5,244,000. Finally, Calamos Advisors LLC grew its stake in James Hardie Industries by 26.4% in the first quarter. Calamos Advisors LLC now owns 993,270 shares of the construction company’s stock worth $18,813,000 after purchasing an additional 207,567 shares during the period. Hedge funds and other institutional investors own 7.96% of the company’s stock.

James Hardie Industries Trading Up 0.8%

James Hardie Industries stock opened at $26.87 on Wednesday. James Hardie Industries PLC. has a 12 month low of $16.46 and a 12 month high of $29.83. The company has a market capitalization of $15.59 billion, a price-to-earnings ratio of 122.13 and a beta of 1.77. The business’s fifty day simple moving average is $24.42 and its two-hundred day simple moving average is $22.79. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.71.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings results on Wednesday, May 20th. The construction company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. James Hardie Industries had a return on equity of 11.13% and a net margin of 2.15%.The company’s revenue was up 44.5% on a year-over-year basis. During the same period last year, the company earned $0.36 earnings per share. As a group, equities analysts predict that James Hardie Industries PLC. will post 1.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

JHX has been the subject of a number of research reports. Stephens increased their price objective on James Hardie Industries from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday. Zacks Research upgraded shares of James Hardie Industries from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Barclays reaffirmed a “positive” rating on shares of James Hardie Industries in a research report on Friday. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, James Hardie Industries currently has an average rating of “Moderate Buy” and an average target price of $27.33.

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.