233,750 Shares in James Hardie Industries PLC. $JHX Bought by Castleark Management LLC

Castleark Management LLC bought a new stake in James Hardie Industries PLC. (NYSE:JHX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 233,750 shares of the construction company’s stock, valued at approximately $6,120,000.

Other large investors have also added to or reduced their stakes in the company. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in James Hardie Industries during the first quarter worth about $28,000. Modus Advisors LLC purchased a new position in shares of James Hardie Industries during the 4th quarter valued at about $31,000. Global Retirement Partners LLC raised its holdings in shares of James Hardie Industries by 3,431.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the construction company’s stock valued at $33,000 after buying an additional 1,544 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in James Hardie Industries by 11,238.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the construction company’s stock worth $40,000 after buying an additional 1,461 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in James Hardie Industries in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 7.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Oppenheimer increased their price target on shares of James Hardie Industries from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Robert W. Baird set a $34.00 price objective on shares of James Hardie Industries in a report on Friday, August 7th. Raymond James Financial set a $35.00 price objective on shares of James Hardie Industries in a research note on Monday, August 10th. Barclays upgraded shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $26.00 to $35.00 in a research report on Monday, August 10th. Finally, Zacks Research upgraded shares of James Hardie Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Nine analysts have rated the stock with a Buy rating and two 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 $32.50.

James Hardie Industries Price Performance

Shares of James Hardie Industries stock opened at $30.38 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.59 and a quick ratio of 1.03. The business’s 50 day simple moving average is $27.05 and its two-hundred day simple moving average is $23.60. The stock has a market capitalization of $17.63 billion, a P/E ratio of 121.52, a price-to-earnings-growth ratio of 2.60 and a beta of 1.77. James Hardie Industries PLC. has a one year low of $16.46 and a one year high of $31.35.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Thursday, August 6th. The construction company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.42 billion. James Hardie Industries had a return on equity of 10.56% and a net margin of 2.69%.The business’s revenue was up 63.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 earnings per share. Analysts forecast that James Hardie Industries PLC. will post 1.41 EPS for the current year.

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.