Calamos Advisors LLC Buys New Position in James Hardie Industries PLC. $JHX

Calamos Advisors LLC purchased a new position in shares of James Hardie Industries PLC. (NYSE:JHX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 785,703 shares of the construction company’s stock, valued at approximately $15,093,000.

A number of other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA grew its stake in James Hardie Industries by 241.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,718,075 shares of the construction company’s stock worth $341,989,000 after acquiring an additional 8,988,938 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of James Hardie Industries by 1,883.6% during the second quarter. Balyasny Asset Management L.P. now owns 3,874,198 shares of the construction company’s stock worth $104,177,000 after purchasing an additional 3,678,889 shares during the last quarter. Eminence Capital LP acquired a new stake in shares of James Hardie Industries during the second quarter worth $83,249,000. Moore Capital Management LP purchased a new stake in shares of James Hardie Industries in the second quarter valued at $48,927,000. Finally, Goldman Sachs Group Inc. increased its stake in James Hardie Industries by 160.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,697,663 shares of the construction company’s stock valued at $63,557,000 after purchasing an additional 1,662,743 shares during the last quarter. Institutional investors and hedge funds own 7.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on JHX shares. Wolfe Research assumed coverage on James Hardie Industries in a report on Tuesday, September 30th. They issued an “outperform” rating and a $25.00 price target for the company. Citigroup raised shares of James Hardie Industries from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 4th. Vertical Research upgraded shares of James Hardie Industries from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Wednesday, November 19th. Oppenheimer upped their price objective on James Hardie Industries from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Finally, Zacks Research lowered James Hardie Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.93.

James Hardie Industries Price Performance

James Hardie Industries stock opened at $20.87 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.79 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $8.97 billion, a P/E ratio of 43.47, a PEG ratio of 7.87 and a beta of 1.80. The firm has a fifty day moving average of $19.67 and a 200-day moving average of $22.28. James Hardie Industries PLC. has a 52-week low of $16.46 and a 52-week high of $34.96.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings results on Monday, November 17th. The construction company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. James Hardie Industries had a net margin of 4.67% and a return on equity of 18.40%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the company earned $0.36 EPS. The firm’s revenue was up 34.5% on a year-over-year basis. As a group, analysts predict that James Hardie Industries PLC. will post 1.39 EPS for the current year.

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.