Northwestern Mutual Wealth Management Co. Boosts Stake in James Hardie Industries PLC. $JHX

Northwestern Mutual Wealth Management Co. boosted its stake in James Hardie Industries PLC. (NYSE:JHX) by 1,366.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,294 shares of the construction company’s stock after buying an additional 78,546 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in James Hardie Industries were worth $1,749,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JHX. New York State Common Retirement Fund purchased a new position in shares of James Hardie Industries during the 3rd quarter worth $1,115,000. Ionic Capital Management LLC purchased a new stake in James Hardie Industries during the third quarter valued at about $1,760,000. Wealth Enhancement Advisory Services LLC acquired a new stake in James Hardie Industries in the 3rd quarter valued at $2,184,000. Gilliland Jeter Wealth Management LLC acquired a new stake in James Hardie Industries in the 4th quarter valued at $1,038,000. Finally, Rhumbline Advisers increased its holdings in James Hardie Industries by 1,427.1% in the 3rd quarter. Rhumbline Advisers now owns 168,496 shares of the construction company’s stock valued at $3,237,000 after purchasing an additional 157,462 shares in the last quarter. Hedge funds and other institutional investors own 7.96% of the company’s stock.

James Hardie Industries Price Performance

NYSE JHX opened at $22.78 on Thursday. James Hardie Industries PLC. has a 12 month low of $16.46 and a 12 month high of $29.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.58 and a quick ratio of 1.03. The firm has a market capitalization of $9.79 billion, a PE ratio of 103.55, a P/E/G ratio of 11.66 and a beta of 1.79. The company’s 50 day simple moving average is $20.30 and its 200 day simple moving average is $21.13.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on JHX. Truist Financial raised their target price 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 cut shares of James Hardie Industries from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. raised shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 11th. Finally, Barclays cut their target price on shares of James Hardie Industries from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, May 21st. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, James Hardie Industries has a consensus rating of “Moderate Buy” and an average price target of $26.00.

James Hardie Industries 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.